{"id":644,"date":"2019-11-07T17:09:57","date_gmt":"2019-11-07T17:09:57","guid":{"rendered":"https:\/\/ayoub-associates.com\/blog\/?p=644"},"modified":"2019-11-07T17:10:04","modified_gmt":"2019-11-07T17:10:04","slug":"get-ready-taxes-important-things-know-tax-credits","status":"publish","type":"post","link":"https:\/\/ayoub-associates.com\/blog\/get-ready-taxes-important-things-know-tax-credits\/","title":{"rendered":"Get Ready for Taxes: Important things to know about tax credits"},"content":{"rendered":"

Here you’ll find items of current interest \u2014 new programs, recent guidance or timely reminders.<\/p>\n

October 15 filing extension deadline<\/h2>\n

Taxpayers who requested an extension to file their 2018 tax return have until Tuesday, October 15 to file.
\nTaxpayers can file their tax return electronically for free through IRS Free File. The program is available on IRS.gov through Oct. 15.<\/p>\n

The fastest way for taxpayers to get their refund is to file electronically and use direct deposit.<\/p>\n

See IRS Tax Tip 2019-132<\/a>.<\/p>\n

Tax Relief in Disaster Situations<\/h2>\n

The IRS extended deadlines that apply to filing returns, paying taxes, and performing certain other time-sensitive acts for certain taxpayers affected by Hurricane Florence. The federally declared disaster areas include hurricane victims in certain counties in North Carolina and South Carolina. The extension applies to deadlines – either an original or extended due date – that occurred on or after September 7, 2018 and before January 31, 2019.<\/p>\n

The IRS often updates its information on disaster relief efforts. For the latest news,\u00a0see the IRS disaster relief page<\/a> frequently.<\/p>\n

Where’s My Refund?<\/h2>\n

Taxpayers who filed their tax returns should know that the easiest way to check on their tax refund is to use “Where\u2019s My Refund?<\/a>” This tool is available on IRS.gov and through the IRS2Go app<\/a>. The fastest way to get that tax refund is to use IRS e-file and direct deposit.<\/p>\n

Taxpayers can use Where\u2019s My Refund? to start checking on the status of their tax return within 24 hours after the IRS receives an e-filed return. For a paper return, it\u2019s four weeks after the taxpayer mailed it.<\/p>\n

See:\u00a0 Online tool lets taxpayers check the status of their refund for more information<\/a>.<\/p>\n

Tax Reform<\/h2>\n

The IRS is working on implementing the\u00a0Tax Cuts and Jobs Act.\u00a0This new law includes major tax legislation that will affect both individuals and businesses. Check the Tax Reform<\/a> page for the latest updates.<\/p>\n

Tax Withholding<\/h2>\n

The Tax Cuts and Jobs Act changed the way tax is calculated. The IRS encourages taxpayers to perform a quick \u201cpaycheck checkup\u201d by using the Withholding Estimator<\/a> to check if they have the right amount of withholding for their personal situation.<\/p>\n

Consumer Alerts on Tax Scams<\/h2>\n

\u202aNote that the IRS will never:<\/p>\n