The end of January means that it is tax season. Today is the day you can actually start filing your taxes, and there are some changes that will probably help you get a bigger refund.
CPA and tax specialist Lydia Desnoyers says the tax rates have changed because of tax reform. That means there has also been a change to your standardized deduction.
“It’s going to double to about $12,000. More people will use it and find it a lot easier to do their tax returns,” Desnoyers said.
The good news is that operations are back to normal now that the shutdown is over. The question is whether the shutdown has impacted when you will get your refund check. Mattie Duppler with the National Taxpayers Union says there’s good news and bad news when it comes to that.
“Even when the government was shut down the IRS recalled its workers and Mick Mulvaney had said refund will be delivered,” Duppler explained.
But, the shutdown may have created a backlog. And there could be another shutdown next month. So you still might experience some delay in getting your tax check.