Political gridlock notwithstanding, here’s one thing you can count on: The start of tax season.
The IRS has said it will begin receiving your 2018 tax returns on Monday, Jan. 28. The revenue agency also said that it would pay refunds to eligible tax payers.
How smooth the process will actually be remains to be seen. Federal employees are coming back to work on Monday after a month-long partial federal shutdown.
The IRS had warned filers that its service may suffer during the shutdown, with fewer hands on deck to answer filers’ questions.
President Donald Trump signed a bill to reopen the government for three weeks — until Feb. 15 — while Congress continues to hash out a deal on immigration.
Amid the negotiations in Washington, accountants are recommending that you gather your data and prepare to file as early as you can.
“A lot of people hear that the IRS is taking returns on Jan. 28th, but they won’t file until April,” said Amy Wang, CPA and senior manager on the American Institute of CPAs’ tax policy and advocacy team.
“Always file as soon as possible if you have all of the information available,” she said.
Here’s what you’ll need to get your 2018 return to the taxman as quickly as you can.