What You Need to Know About Tax Season
As tax season approaches this week, we want to ensure our readers are well informed about the process.
Despite uncertainty of the recent government shutdown and temporary extension, the Illinois Department of Revenue will still start accepting 2018 state individual income tax returns January 28. The Internal Revenue Service (IRS) will be accepting federal individual income tax returns that same day.
To ensure your process is as stress-free as possible, here are some helpful pointers:
- The filing deadline to submit 2018 tax returns is April 15. (IRS.gov)
- The fastest, most secure way to file tax returns is online with direct deposit. (WGNTV.com)
- Illinoisan taxpayers can file forms I.L-1040 for free using MyTax Illinois. (Illinois.gov)
- Everyone in Illinois pays the same tax rate regardless of income. (TheBalance.com)
- File on time to avoid a late-filing penalty.
- If you make less than $66,000, you can use a free tax software. (IRS.gov)
- People with the lowest incomes are not required to file a tax return. (Rand.org)
- Make sure that your employer files your tax related documents by January 31. (Businessinsider.com)
- Your tax refund should be in your bank account in 3 weeks of filing if you have direct deposit. (Businessinsider.com)
For more information on taxes, including how to file income taxes as an undocumented immigrant or paying taxes for dependents, visit Illinois Legal Aid Online. For questions on your taxes, reach out to ILAO.