Tax season begins under new tax code
Standard deduction increases
JACKSONVILLE, Fla. – Tax season officially starts Monday.
This year is the first year under the new tax code. Steve DuVal, a CPA at DuValFields CPA Group, said this year there are several changes to the tax law intended to simplify the process.
Among those, DuVal said, families with children will see changes and the standard deduction has increased. With the changes, DuVal said, people preparing their taxes should remember one thing.
"The biggest thing is we still need to have all your itemized deduction items because just in case it exceeds that standard deduction," DuVal explained. "That hasn't really changed, but a lot of people think they don't need to keep records or they need to do that."
Despite the lengthy shutdown before tax season started, the IRS said taxpayers will get their refunds on time.
Most taxpayers typically receive their refunds in less than 21 days. The deadline to file is Monday, April 15. If you have any questions, visit IRS.Gov
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