Local tax professional offers tips for filing

Published: Jan. 23, 2023 at 5:11 PM EST
Email This Link
Share on Pinterest
Share on LinkedIn

MORGANTOWN, W.Va (WDTV) - Tax filing season officially kicked off Monday.

Danny Fink is a tax expert with Premier Tax Consulting in Morgantown.

He says you’re looking to get your refund sooner than later, you may want to consider filing early, but if you have a business or own properties, you may have to wait.

“A lot of people, if they are expecting a refund, are anxious to get their return filed right away. Generally, if someone has a more complicated return, like they have a business or own rental properties, they have a lot of investments, it sometimes takes a little longer for the third-party documents to get to them, so they have to file in February,” Fink said.

A lot of people got tax break enhancements in 2022. For example, child tax credits and some charitable contributions, but Finks says many of those have now gone away.

“There were some laws that went into place because of COVID, and they increased the amount child tax credit and the amount for childcare tax credit. Both of those have been lowered back to their previous levels, so those tax credits are going to be going down,” Fink said.

Fink says using third-party sites are fine for simple returns, but if you feel your return is a little more complicated, you should reach out to a professional. For first time filers, Fink recommends waiting until you receive all the proper paperwork.

“You need to wait until you get all your documents, so the W2, 1099, etc. If you purchase your health insurance through the exchange, there will be a 1095a, so you have to make sure you receive all your documents before you file your return. If you file and something is missing, that’s going to generate a letter from the IRS when they do their matching,” Fink said.

The last day to file without penalties and interest is April 18th.