It’s Back-to-School & Time For Your Refund!

back to school

It’s back to school time, so here are some tips for tax time!

Attention parents:

  1. Get up to $1,000 for the Child Tax Credit if your child is under 17, resided for more than half the year with you, a dependent on your tax return, your relative, a U.S. citizen, national or resident alien.
  2. If your child is under 13, claim the child and dependent care credit for child care expenses.
  3. Depending on your income, you can claim the Earned Income Credit (EIC).
  4. The Adoption Tax Credit reduces your tax for fees related to court, attorney, travel and meal expenses. You can also claim the Special Needs Credits for all relating child’s special needs expenses.
  5. If you’re paying for your child’s college education, claim the Education Credit for tuition, mandatory supplies and related fees.

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What is the Tax Refund Schedule for 2018?

tax refund schedule 2018

Do you feel like you’re playing the waiting game?

You might be wondering how long it takes for you to receive your refund. Typically, the IRS issues tax refunds in less than 21 days as long as there are no discrepancies.

If you are due a refund, it may take longer depending on the situation or time your financial institution takes to direct deposit or mail it to you.

Here are some situations that may prevent you from receiving your refund:

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Can I Still File a Tax Extension for 2018?

tax extension 2018
Don’t wait until the last minute to file your 2017 tax return.

April 18th has passed for the 2018 tax season deadline. However, you can still e-file your tax return until October 15, 2018; the e-file and tax extension deadline. Even if the 2018 tax deadline has passed, those with refunds can still e-file their tax return without any penalties.

On the other hand, individuals with a tax due may end up facing interest, late filing penalties, and failure-to-pay penalties. We advise that you file your tax return as soon as possible so you receive your refund faster.

Can I still file a tax extension?

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