Category Archives for "Taxes"

Jan 09

Happy New Year 2018

By Eddie Cargor | Blog , Taxes , Uncategorized

SWYFTS TAX NEWS

Welcome to the tax filing season

The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late February.

The IRS will begin accepting tax returns on Jan. 29,WASHINGTON ― The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late February.

The IRS reminds taxpayers that, by law, the IRS cannot issue refunds claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) before mid-February. While the IRS will process those returns when received, it cannot issue related refunds before mid-February. The IRS expects the earliest EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards starting on Feb. 27, 2018, if they chose direct deposit and there are no other issues with the tax return.  The IRS also reminds taxpayers that they should keep copies of their prior-year tax returns for at least three years. Taxpayers who are using a tax software product for the first time will need their adjusted gross income from their 2016 tax return to file electronically. Taxpayers who are using the same tax software they used last year will not need to enter prior-year information to electronically sign their 2017 tax return. Using an electronic filing PIN is no longer an option.

2015 Tax Season Tips
May 09

The End of Tax Season

By Eddie Cargor | Blog , Taxes

As we transition into the spring after a long record breaking winter now would be a great time to reflect on tax strategies that can be implemented for next year. One recommended tax strategy would be to start spring cleaning by getting rid of those clothes that you no longer wear and donate them to a charitable organization (ie. Salvation Army, Purple Heart, etc…)