Federal and any state returns are usually filed at the same time. This is what most taxpayers believe in most states. However, not so many people know that you can file your state taxes before your federal taxes through different options. There are a few factors that need to be considered if you decide to do this. Also, note that filing early doesn’t always mean you’ll receive your refund any sooner as well.
Are you thinking about filing paper forms for both our federal and state returns? If your answer is yes, then you file your state return before your federal return. This option is usually considered by taxpayers whose goal is to utilize their state refund to pay for their federal tax liability. This type of approach could work if you have enough time to receive the refund because you have to remember that you still need information from the federal return to complete the state return.
You won’t be able to e-file your state taxes before you e-file your federal taxes if you’re thinking about filing electronically through e-file. Generally, before you can even file any state returns, e-file programs will first ask you to file your federal return.
You are required to file your federal return first if you decide to file your federal and state returns through an online program. You need to wait until the Internal Revenue Service accepts your federal return before you are able to e-file your state return if your federal e-fule is pending.
As soon as you have all the necessary information and documents you need, you can file your federal tax return. You must receive your W-2s for your 2018 earnings from your employer until Jan. 31, 2019 as well as most 1099 forms.
The IRS won’t officially begin accepting tax returns for the 2019 tax year until Jan. 28, 2019, so don’t expect that they process your return as soon as you file. The IRS still needs to adjust with the new provisions of the Tax Cuts and Jobs Act which went into effect in January 2019.
Your personal tax return must be filed by April 15, 2019, unless you’re a resident of Main or Massachuessets. Your deadline will be April 17 for these states since April 15 is Patriots Day and on April 16, the IRS is closed for Emancipation Day in the District of Colombia.
If you’re not ready to prepare and file your tax return by April 15, you are allowed to request a six-month extension from the IRS which will push your filing deadline back to Oct. 15, 2019. Be sure to pay on time because the IRS will charge your interest and sometimes late payments.
Although the IRS issues refunds in less than 21 days for most returns, it can take up to six weeks from the day you mail in a paper return before you receive your refund.
It’s also best for you to be aware of the delaying of refunds caused by the Protecting Americans from Tax Hikes Act of 2015, also known as “PATH ACT” that began in 2017. It doesn’t matter when you file, the IRS won’t be able to issue a refund before mid-February 2019 if you’ve claimed the Earned Income Tax Credit (EITC). Your return will still be examined by the IRS as provided by the PATH Act to those who are claiming the EITC to make sure fraud is being avoided. It’s a big problem when there is fraud because it could lead to tax hikes to all taxpayers across the board.
If you need help in filing for your state and federal tax return, you may consider consulting a tax professional who’s experienced and knowledgeable with tax regulations. You no longer have to decide which one to file first because a tax professional will do all the preparation for you which could also save you more money and time instead of doing it all yourself.
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