BOARDMAN, Ohio (WYTV) – Tax season is just getting started but the new law is adding to the confusion. The reform will change what your tax return looks like — but not until next year.
Tax analysts say they’re fielding a lot of questions about what the new tax reform will mean.
“A lot of them go into effect next year. Well, in 2018, which we’ll be preparing in 2019,” said Senior Tax Analyst Heidi Sipus.MORE: Could your tax refund be delayed?
Next tax season, expect to see changes in standard deductions, personal exemptions and child tax credit, among other things. Sipus said H&R Block has a tool to show you what those changes might look like.
“We have an estimator in our program that puts their information into next year to see what will happen.”
The new tax law affects everyone differently. That’s why it’s a good idea to get help when filing your taxes.
“So personal, taxes are, so we try to keep everybody with the same preparer because we get to know that person and we get to know their situation,” Sipus said.
While you won’t feel most of the changes in the new law until 2019, there is one difference you may see this year — more money in your paycheck. The Tax Cuts and Jobs Act slashed taxes in every bracket.
The deadline to fill out your taxes is April 17.