Experts Say To Get Your Taxes Filed This Week
I think we're all hoping at this point that we can avoid another government shutdown. But another one is possible as of February 15th. That is the deadline that was given by the President and lawmakers to get a deal worked out over border security. Now, the President could also declare a national emergency and avoid a shutdown too. But experts say just to be safe, you might want to get your taxes filed this week.
Yes, April 15th is the technical deadline to get your taxes filed, but because of another looming shutdown and a large number of changes in this year's tax code, experts say to get organized and file now. Tax experts say that filing before the 15th is a smart move. Even with the previous government shutdown, the IRS says that everything as of now is going out as scheduled. Tax returns were officially accepted as of January 28th.
The IRS says they expect 90% of returns this year to be filed electronically. That should also help speed up returns unless there is another shutdown. There are some new things to remember this tax season too. There are no more personal exemptions, but the standard deduction is much higher for single and married taxpayers. The child tax credit also has doubled to $2,000.