Tax Tips: Getting started and new changes this year ahead of Tax Day on April 18

PHILADELPHIA (WPVI) — ‘Tis the season for tax filing – and this year you have a few extra days to submit.

“It’s usually April 15th, but because of a weekend and because of a holiday Emancipation Day in D.C., it got pushed back to April 18th,” said Ted Rossman from

As you get ready to do your taxes, gather your income documents – such as W-2s and 1099S – as well as your bank statements if you earned interest on your bank accounts.

“Basically, anything that you get that says important tax documents enclosed in the mail. You want to make sure you gather that up,” said Luis Garcia, IRS spokesman.

And make sure you have personal identifying information for you and your dependents, like social security numbers and driver’s licenses.

If you are hiring a tax professional, check the Better Business Bureau for any complaints and verify their preparer tax identification number in the directory on

This year, the biggest change you’ll notice is that the pandemic-era tax breaks have expired.

“So that means no more stimulus payments. The child tax credit, which was expanded last year, is now back to its normal level. There also used to be an expanded child and dependent care credit. That’s no more. Charity deductions you now have to itemize to claim those,” said Rossman.

As a result ,your tax refund may be lower this year.

“Most people get a refund when they file and those people are going to be experiencing a little bit lighter of refund check this year. Right now, they’re running an average of about 11% less than they were the year before,” said Garcia.

Tax Day is April 18, 2023.

Source link

Scroll to Top