The IRS today announced the opening of the 2019 tax filing season for individual taxpayers. The IRS has started accepting and processing federal income tax returns for tax year 2018.
The IRS release (IR-2019-07) states that with the end of the partial government shutdown, “the IRS is working to promptly resume normal operations.” The IRS stated that it expects the first tax refunds to be sent to taxpayers in the first week of February, with many tax refunds to be paid by mid to late February. Most refunds are expected to be issued in less than 21 days.
As noted in today’s IRS release, Form 1040 has been redesigned for tax year 2018 to reflect changes made to the Code by the tax law enacted in December 2017. The revised form consolidates Forms 1040, 1040A, and 1040-EZ into one form that all individual taxpayers will use to file their 2018 federal income tax return. The new Form 1040 uses a “building block” approach that can be supplemented with additional schedules as needed.
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