Things to know this year…
1. If you are paying alimony we will need the date of your separation/ divorce agreement, the recieving party’s scoial security number, and the amount you are paying.
2. If you are recieving alimony we will need the date of your separation/ divorce agreement and the amount recieving.
3. There is no longer a penalty for not having health insurance, however if you have ACA plan you should recieve a 1095-A and you still need to report this to reconcile on your tax return.
4. Medical Expense deductions do not start counting until after 10% of your AGI FOR EVERYONE NOW!
5. The new tax form requires you to disclose if you have any virtual currency transactions.
6. There are no longer any energy credit besides solar options.
ANYONE WITH EIC, CTC, and/ or OTHER DEPENDENT CREDIT CAN EXPECT A DELAY ON THEIR REFUND! SAME AS LAST YEAR.