Top Questions Answered About Your 2018 Taxes!

April 5, 2019

April 15th is quickly approaching. You need to speak with Encino tax advisors right away to get everything organized and to make sure you do not make a disastrous mistake. It is natural to have a lot of questions about your forms, and Encino tax consultants are here to help. Here are some of the most frequently asked questions answered for your convenience.

When Will I Get My Refund?

Many Americans can expect to receive a refund this year. A lot of people depend on these refunds to make essential purchases, so it is natural to wonder when that money will be in your bank account. The IRS processes approximately 90 percent of refunds in under 21 days. You can also use the IRS’ tool called Where’s My Refund to track the progress of your refund.

What Filing Status Should I Use If I Just Got Married?

Your filing status is completely dependent on what your marital status was on December 31st. Therefore, if you married your partner on December 30th, then you would file as though you were married the entire year. Similarly, if you divorced on December 30th, then you would file as though you were single throughout all of 2018.

Do I Need To Pay a Penalty If I Did Not Have Health Insurance in 2018?

Under the new tax reform law, Americans will not have to pay a penalty for not having the minimum level of health insurance starting in 2019. However, you still needed healthcare coverage in 2018 and will need to pay a penalty if you went without it. This is the case if you did not qualify for an exemption.

There is no time to waste, so make sure you submit your taxes on time. Los Angeles tax preparation services are available to help Californians get their taxes ready before the deadline. Contact a service immediately to get started.

 

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