The 2018 Tax Reform. What should you know?

Surprise, it's Tax Day! So by now, you have more than likely filed your taxes. However, if you follow the news (which, let's admit, has become somewhat unavoidable for most of us with the presence of social media) you probably know that people appear to be significantly more stagnant this year, than they have in years prior, with filing their taxes. Now, no one really knows what is causing for this strange delay, but it may be possible that it's attributed to the 2018 Tax Reform that recently passed. Once again, you have probably heard about this reform, given the voice that the media now has in circulating news.

Now, I don't want to make any assumptions. Maybe you haven't heard about the reform or don't really understand what it means to you.  There are no judgments here if you haven't filed your taxes yet either.  Good news though, if the latter is true, you can file an extension pretty easily online for both your federal and state taxes. Some states will even file you a complimentary extension, without you having to do a thing, so check what the rules are on the state you reside in. Now, if the former is true, the good news there is that you are definitely not alone. Mostly, the reform has left us all with a lot of questions regarding the change and what it means to us. Now, I'm not a financial expert but what I do believe is that the reform should not impact your refund for 2017.  However, you should always check with a professional financial expert to be sure. Also, if you're reading this through your Employee Assistance Benefit, I also know that you do have access to an entire team of individuals who actually are financial experts who can potentially help in easing some of the anxiety felt regarding this change. Help is available 24/7, so if you do have questions regarding the reform or anything else Tax related, call us! We are here.