Williams DUI & Risk Reduction School
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IMPORTANT TAX UPDATES
Update on new date's coming within the week, awaiting IRS release!!!
Last years dates below
The first day to electronically file you tax returns stated by the IRS is January 29th, 2018
(you can still process your tax returns prior to that date).
If you are claiming the "Earned Income Credit" and the "Additional Child Tax Credit", returns won't be processed until February 15th, 2018 and most refund deposits won't be available until February 27th, 2018 or beyond.
Most changes to the "New Tax Law Bill" will take effect starting January 1st, 2019 for the 2018 tax year!!!
REMEMBER!!! The actual filing date for business returns are DUE by March 15th,2018 (Partnerships - Form 1065, Corporate Returns - Form 1120S and LLC taxed as an S corporation)
Form 1120 C (Corporate Return) will be due by April 15th, 2018 and Form 990 (Non Profit exempt organizations) are DUE by May 15th, 2018.
NEW TAX BILL ALERT!!! The one thing that will be in effect for this year is - The Medical and Dental Expense Deduction is going back to 7.5% of you Adjusted Gross Income (Down from 10%) **ONLY for 2018 & 2019.