Tax season filing begins Monday

Throughout the year, you pay taxes on the money you earn – either by having it withheld from your paycheck or by making estimated payments.

Starting Monday, the Internal Revenue Service will begin accepting 2017 returns.

The S.C. Department of Revenue (SCDOR) says filing taxes online is the most efficient way to file taxes. The tax deadline to file individual tax returns this year is April 17. Refunds should start showing up in about 21 days.

Please imagine you got a tax refund in 2018.Which of the following would you do with your tax refund? In particular, there are three reasons why it’s not dumb to want a bigger tax refund, even if the common wisdom is to take steps to avoid large refunds from the IRS. Another 35 percent said they complete their taxes in February and 23 percent in March, while 18 percent file in April or later.

While it’s become normal to post selfies and broadcast your every thought on social media, don’t offer personal details – e.g., your address, your bank, your maiden name, or anything else that makes it easier for criminals to hijack your identity along with data they may already have on you. For all other locations and times, individuals may call 2-1-1. There’s also a relatively new delay if you claim either the earned income tax credit, or the additional child tax credit.

Taxpayers should be very careful when choosing tax preparers. He’s expecting his refund bounty in 3 weeks. For those who usually file early in the year and are ready to file a complete and accurate return, there is no need to wait to file.

Ryan Dodson with Liberty Tax Advisors is joining 2WTK to answer several of the top questions.

And the sooner you file, the quicker you get your return. “They are definitely masters of the disappearing act”, said Lester Crawford, chair of the California Tax Education Council (CTEC), a state-mandated nonprofit organization that manages the registration of more than 40,000 unlicensed tax preparers.

Though a lot of people see them as a hefty windfall, the truth is the money you get back when you file your taxes is your money.