Thread: Tax law question

I'll be getting a refund this year (go, earned income credit, go GO!) so I want to file as early as humanly possible.

But there's so much talk about changes to the tax laws, and even about making things retroactive. Should I wait to file? Might there still be changes that will affect 2008 taxes?

Good question...

IRS Changes '08 This is a good reference, (as is the turbo tax website)

My day job is in finance, and I can't give detailed advice out but I would hold off on filing your return for at least a month. Often times financial institutions don't have your necessary forms prepared at the start of the new year (things like year end close effects customer retail accounts.) Also if you currently hold any accounts with financial institutions that have been merged (or forced to merge) with other banks you may want to wait for the aquired entity to roll into the new parent company before asking for your forms so that they are not doubly reporting your income. If you request for a direct deposit of your refund you will spend less time waiting for your cash no matter when you file.

Eh, I don't know your personal situation but I don't think it will affect you. They still haven't finalized forms, lol.

Thanks Amity! So good to have you around.