2018 is practically upon us, and even though the deadline to file your tax returns for the 2017 tax year isn’t until Tuesday, April 17, you may be anxious to get your taxes done and get your tax refund. The IRS has not announced the first day it will accept tax returns, but it’s never too early to start thinking about your tax returns, gathering materials, or even putting together your paperwork. If you need help with your tax planning or filing, now is the time to contact a tax attorney. NewPoint Group’s Roseville and Sacramento tax lawyers can help you with the intricate details of filing your tax return, especially if you have a complex tax situation, such as paying taxes for a small business or paying taxes on foreign accounts.
First Day to File Taxes in 2018
At the time of writing this article, the IRS has not announced when it will start accepting taxes. In 2017, the first day to file taxes was January 23, but with the 2018 tax filing deadline falling one day earlier than the 2017 deadline, we may expect the 2018 tax season to open a bit earlier.
Even though the deadline hasn’t been announced, you can start taking some important planning steps. First, it is important to schedule the time to do your taxes. Especially if you will be getting help from a professional, you should schedule a time that you will sit down, collect the paperwork you need, and file. For some taxpayers, the task of filing your taxes means collecting W-2s from different workplaces, getting your spouse’s tax info, preparing self-employment reporting, preparing W-2s for employees, and performing other tasks before you can even sit down to file. This brings us to our second important planning point: gather the paperwork first.
Many taxpayers get excited about their tax refund and file early to claim their money as soon as possible. However, if you do not have all of your financial information, filing early will either mean incomplete or inaccurate filing. Don’t let this discourage you, though. Whether you’re using tax software or classic paper forms, you can begin filling in biographical and other information as early as you want.
However, one important point is that while many banks, software companies, and accounting firms may tell you that taxes open January 1 or 2, this is when their services open, not the IRS’ services. The IRS will not accept taxes until its first day of tax season. This means that anything you “submit” or “file” before that date will just be held by your tax professionals until that filing period opens. This may mean you need to take additional action later to get the taxes filed with the IRS.
Can I Start Working with a Tax Lawyer Before Tax Season Starts?
In short, you can start on your taxes as soon as you want. Tax season is a crowded, hectic time for tax professionals – but that’s a necessary part of the business. Contacting your tax professional as soon as you can and getting the appointments and information you need ahead of time can make tax season much easier. Though the deadline to file isn’t until the spring, you may be able to start making appointments, discussing tax strategies, and dealing with potential problems any time of the year.
Many tax problems are ongoing issues that are better handled when you catch them early. For those who are self-employed, many tax issues come from failing to make quarterly estimated payments. Others with international holdings often see issues when they fail to report income or transactions from those sources.
Underpaying taxes, significant errors, or failing to follow some tax rules can result in tax audits. If you think you might get audited, or you are already being audited, you shouldn’t wait until tax season to contact a tax professional. Our lawyers offer IRS tax audit defense to try to end tax audits, eliminate penalties, and lower your back taxes.
Even if you don’t have any issues right now, you may be able to improve your tax planning. The more sources of income and assets you have, the more complex your tax situation often is. You may be missing credits or deductions that could improve your tax situation. While a tax accountant is often helpful, there are some things that only a tax lawyer would think to look for to improve your tax planning.
Roseville Tax Attorneys
Everyone has to pay taxes – but not everyone takes advantage of a tax lawyer. While you may not be able to start filing with the IRS until the end of January, it’s never too early to contact a tax professional and get started on your 2018 tax returns. For a free consultation on your tax situation, contact the Roseville tax law offices at the NewPoint Group today at 800-358-0305.
