With the second week of tax filing in full swing, there’s still some confusion looming around on how to file taxes.
Iris Mena says she just filed her taxes over the weekend.
“It did cause a smidgen of confusion,” Mena said. ” You’re right, the TurboTax was giving us more, more layers of work to do than prior.”
Bill Clark, enrolled agent at TaxPro, says it’s a matter of reading and understanding your taxes.
“Bascially, they’ve fundamentally changed the way we do our taxes,” Clark said.
Such as the change in personal exemptions. As well as people who file under the Earned Income Tax Credit and Child Tax Credit, who will not see returns until after Feb. 15.
Clark says the Earned Income Tax Credit has been the most vulnerable in previous years.
“It’s based upon earnings, so if I don’t report all my earnings, the government hasn’t matched all these earnings up at this point,” Clark said. “Or, I claim kids that I’m not entitled to claim. Identification theft is another one. So they try to get these things in and give them time to get the data from the employers.”
Clark says all of this just takes extra time.
As for the potential risk of another government shutdown, Clark says it’s best to file taxes electronically and sooner, rather than later.
“They have said that refunds will be issued,” Clark said. “Now that was in the last shutdown, they have not addressed anything now because everything is speculative.”
For more information on the EITC and CTC, you can see our most recent story here(https://kristv.com/news/national-news/2019/01/28/tax-season-begins-certain-refunds-to-be-on-hold-til-mid-february/)
