When can we begin filing our tax returns? The IRS will begin accepting individual tax returns today. You can file your taxes once you receive your W-2 form from your employer, or 1099 forms from every employer you had in 2019.
"It's really important to make sure you have all your forms and you are ready to go," said CPA Jay Rabalais who says there should be less anxiety than last year when many of the tax code changes made by President Trump went into effect. Not much has changed this year.
Last year was year one for the major federal tax overhaul that eliminated many itemized deductions in exchange for a higher standard deduction.
"Most if not all of the changes went into effect last year, a year ago as tax preparations returns," Rabalais said. "Most of the changes this year are just upping the standard deduction for the cost of living and that's is about it, but reflect the same as last year." The IRS offers a free filing tool called IRS Free File.
April 15 is the deadline when taxes are due for income earned from last year.