The Internal Revenue Service will begin to accept and process 1040 applications on January 30th because of the recent tax law changes enacted by Congress in early January. However, there are several forms that require more extensive programming and testing because of the late legislation. At this time these forms are expected to be accepted in late February or March.
The Summit offers free Tax-Aide counseling through AARP as part of an IRS-sponsored program for seniors. Trained and certified volunteer counselors assist people of low-to-middle income with special attention to those 60 and over for both federal and state returns. Call (734) 394-5460 for an appointment at the Summit Senior Center. Find more locations near you.
Millions of taxpayers started taking home more money in their paychecks this past April thanks to the Making Work Pay Tax Credit. However, changes to the IRS withholding tables cannot take into account single workers with multiple jobs or dual-income married couples for example. All these changes could mean a smaller refund or larger balance due next year. Now is the time to review and adjust your W-4 and ensure that you are withholding the correct amount. This IRS Withholding Calculator can help you avoid an unpleasant surprise come tax time.