Now that tax season is in full swing, many people have a lot of questions and are wondering how the tax overhaul will impact their returns.
Candace Bates is a future mom of two and said she was hoping for a little more of a refund this year for new baby expenses, but with a combination of new tax code and the shutdown, she's concerned.
"I'm expecting and we were hoping to get that money around the time we are expecting, so I hope it doesn't hold it up too much," she said. "I'm a little worried about it."
Some people said they don't know what to expect this tax season. Joseph Bearden, a certified public accountant, said the top three things that will affect people are higher standard deductions for almost everyone, personal and dependent exemptions being gone and change to deductions for business income.
"There's going to be some unexpected new rules this year because of all the new rules from the Trump tax reform," Bearden said.
Most people WAAY 31 spoke to Wednesday said they are planning to file taxes online, which is something Bearden said will make the process quicker. They were hopeful their returns will be hefty this year.
"If they withheld too much tax, you'll get a bigger refund ... If they withheld too little, you might owe the IRS some money," Bearden said. "They may be a little backed up at the moment, because they're just getting back from the government shutdown."
Bearden said it typically will take about two weeks for people to get their refunds, but as we enter new territory this tax season, it will vary person to person.
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