Page 26 - AreaNewsletters "Jan'20" issue

Pro Accounting
& Tax Services, LLC
Janell D. Ball, Accountant Castle Rock, CO 80108
(303) 324-8617 Work
(303) 223-3303 Fax jdball65@gmail.com proaccountingtaxservices.com
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January 2020 • Castle Rock “AreaNewsletters” 26
Tax Tips
By Janell Ball, RTRP, Pro Accounting & Tax Services, llc
Tax Season is Underway!
The IRS will start processing most returns on January 20, 2020, but will not start processing returns with the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) until mid-February 2020.
When to expect your refund if you aren’t expecting any EITC or ACTC credit you will get your direct deposit refund within 21 days of ling your return. If you do have EITC or ACTC credit your tax return refund will not be processed until February 15, 2020. e goal is to cut down on the fraud and make sure that duplicate returns are not being led.
Tax returns are still being revamped so your return may look di erent from last year. ere are still schedules instead of forms but the 1040 looks similar to 2018 return. ere is a new 1040-SR which is a simpli ed form for the seniors.
Early January you will start to receive organizers from your tax preparer and then W-2’s and 1099’s will be mailed out or posted to your employer website by January 31st, 2020.
If you need help with tax planning now is the time to get on that task, give me a call at 303-324-8617 to discuss your tax needs.
F I NA NCE & B US I NE S S
I’m happy to help you
in 2020!