Here are some essentials to help you get through tax season, whether you do your taxes yourself or get some help:
More time to file
Good news for procrastinators: You have until Monday, April 18. You can thank Emancipation Day, a holiday observed in Washington, D.C., which falls on April 15. By law, D.C. holidays impact tax deadlines. State taxes are also due April 18 and most municipalities have also set that date, but confirm to be sure.
You’ll have until Oct. 17 if you ask for an extension. The extension is only for the time to file, not to pay taxes due.
Important things to know
• The IRS will process nine out of 10 refunds within 21 days. States have their own refund processing time frames that will vary.
• Missing tax forms? Contact your employer first, but you can also call the IRS at 800-829-1040.
• Need the 1040 or other forms? About 95 percent of last year’s federal individual income tax returns were prepared using tax software, the IRS said. You can print out forms at www.irs.gov or libraries have limited forms available.
• Free filing: If your adjusted gross income is $62,000 or less, you can use one of 13 tax software companies who offer IRS Free File. If you make more, you can use free fillable forms. Last year, more than 144,000 Ohioans took advantage of IRS Free File. Go to www.irs.gov/freefile.
• Refunds: You can split your direct deposit refund into three accounts. New this year is an option into a new retirement savings program called myRA. Visit www.myRA.gov.
• Need help? The IRS website, www.irs.gov, has lots of information. You can also call the IRS, but be forewarned that wait times could be long. 800-829-1040 from 7 a.m. to 7 p.m. Monday through Friday. Victims of ID theft can call: 800-908-4490.
There is also a local IRS office for face-to-face questions in Akron and Canton. It is first come, first served. Akron, 2 S. Main St., Monday through Friday 8:30 a.m. to 4:30 p.m. Canton, 301 McKinley Ave. SW, Monday through Friday 8:30 a.m. to 4:30 p.m. (closed for lunch 12:30 p.m. to 1:30 p.m.)
Who must file?
Whether you’re required to file a return depends on the type and amount of your gross income, filing status, age, and whether someone is eligible to claim you as a dependent. A taxpayer who is not the dependent of another taxpayer is required to file if his or her gross income exceeds the dollar amounts in the below chart. (In determining gross income, do not include social security benefits received.)
This year’s general filing requirements are:
•Single: $10,300
•Single (65 and over): $11,850
•Head of Household: $13,250
•Head of Household (65 or over): $14,800
•Married Joint (under 65): $20,600
•Married Joint (One 65 or over): $21,850
•Married Joint (Both 65 or over): $23,100
•Married Separate (any age): $4,000
•Qualifying Widow(er) (under 65): $16,600
•Qualifying Widow(er) (65 or over): $17,850
Standard deductions
• Single or Married filing separately: $6,300
• Married filing joint or qualifying widow(er): $12,600
• Head of Household: $9,250
Betty Lin-Fisher can be reached at 330-996-3724 or blinfisher@thebeaconjournal.com. Follow her @blinfisherABJ on Twitter or www.facebook.com/BettyLinFisherABJ and see all her stories at www.ohio.com/betty