Federal Tax, Tax

Avoid Tax-Time Surprises and Plan Now!

When it comes to planning for next year’s tax return filing, the IRS urges taxpayers to wait no longer. To avoid tax-time surprises on their 2019 federal tax returns, taxpayers should start by using the IRS withholding estimator and adjust withholding or estimated payments if necessary. This is important for those who received a smaller refund or higher tax bill than expected for 2018 or had a key life event (such as marriage, divorce, a home purchase or entering college). Taxpayers, especially those with investment or self-employment (or gig economy) income, need to monitor their tax situations and begin gathering documents. Here’s more. Contact the Cg Team to get started. © 2019

“Get Ready for Taxes: Get Ready Today to File 2019 Federal Income Tax Returns.” Internal Revenue Service. IR-2019-178, October 31, 2019. https://www.irs.gov/newsroom/get-ready-for-taxes-get-ready-today-to-file-2019-federal-income-tax-returns.