> Get Ready for Taxes: What to Do Before the Tax Year Ends Dec. 31

Get Ready for Taxes: What to Do Before the Tax Year Ends Dec. 31

For most taxpayers, Dec. 31 is the last day to take actions that will impact their 2017 tax returns. For example, charitable contributions are deductible in the year made. Donations charged to a credit card before the end of 2017 count for the 2017 tax year, even if the bill isn’t paid until 2018. Checks to a charity count for 2017 as long as they are mailed by the last day of the year.

Taxpayers who are over age 70 1/2 are generally required to receive payments from their individual retirement accounts and workplace retirement plans by the end of 2017, though a special rule allows those who reached 70 1/2 in 2017 to wait until April 1, 2018, to receive them.

Most workplace retirement account contributions should be made by the end of the year, but taxpayers can make 2017 IRA contributions until April 18, 2018. For 2018, the limit for a 401(k) is $18,500. For traditional and Roth IRAs, the limit is $6,500 if age 50 or older and up to $15,500 for a Simple IRA for age 50 or older. Check IRS.gov for more information about cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018.

Taxpayers should be careful not to count on getting a refund by a certain date, especially when making major purchases or paying other financial obligations. Taxpayers can take steps now to make sure the IRS can process their return next year.

Taxpayers who have moved should tell the US Postal Service, employers and the IRS. To notify the IRS, mail IRS Form 8822, Change of Address, to the address listed on the form’s instructions. For taxpayers who purchase health insurance through the Health Insurance Marketplace, they should also notify the Marketplace when they move out of the area covered by their current Marketplace plan.

For name changes due to marriage or divorce, notify the Social Security Administration so the new name will match IRS and SSA records. Also notify the SSA if a dependent’s name changed. A mismatch between the name shown on your tax return and the SSA records can cause problems in the processing of a return and may even delay a refund.

Some refunds cannot be issued before mid-February. By law, the IRS cannot issue refunds before mid-February for tax returns that claim the Earned Income Tax Credit or the Additional Child Tax Credit. The IRS expects the earliest EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards starting on Feb 27, 2018, if they chose direct deposit and there are no other issues with the tax return.

Some Individual Taxpayer Identification Numbers must be renewed. Any Individual Taxpayer Identification Number not used on a tax return at least once in the past three years will expire on December 31, 2017. Additionally, all ITINs issued before 2013 with middle digits of 70, 71, 72 or 80 (Example: 9XX-70-XXXX) will also expire at the end of the year. As a reminder, ITINs with middle digits 78 and 79 that expired in 2016 can also be renewed. Only taxpayers who need to file a U.S. federal tax return or are claiming a refund in 2018 must renew their expired ITINs. Affected ITIN holders can avoid delays by starting the renewal process now.

Those who fail to renew before filing a return could face a delayed refund and may be ineligible for some important tax credits. More information, including answers to frequently asked questions is available on IRS.gov/ITIN.

Keeping copies of tax returns is important. Taxpayers may need a copy of their 2016 tax return to make it easier to fill out a 2017 tax return. Some taxpayers using a software product for the first time may need to provide their 2016 Adjusted Gross Income, or AGI, to e-file their 2017 tax return.
Taxpayers who do not have a copy of their 2016 return and are existing users can log in to IRS.gov/account if they need their AGI. Otherwise the IRS will mail a Tax Return Transcript if requested online or by calling 800-908-9946. Plan ahead. Allow five to 10 days for delivery. Learn more about identification verification and electronically signing tax returns.

The IRS has a special page on IRS.gov with steps to take now for the 2018 tax filing season.


Events

e-Passport to Summer Fun in Windsor
June 22 - Aug 31 at Town of Windsor
Tour Windsor Rocks!
through Aug 23 at TourWindsorCT.org Locations
Local Artist Art Exhibit
through Labor Day
2018 Annual Mums Sale
Aug 3 at Windsor Woman’s Club
Surf and Turf
Saturdays in August at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
Blessing of the Animals
Aug 19 at Palisado Green on Palisado Ave. Windsor, CT 06095
The Breakfast Club & Brunch All Day
Sundays at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
China Trip Orientation
Aug 20 at Windsor Public Library
Learn About Our China Trip
Aug 20 at Town Hall
Learn to Crochet
Tuesdays at Windsor Public Library
Summer Classic Movie Series
Aug 21 at Windsor Public Library
Bring Your Gadgets to the Geeks
Wednesdays at Windsor Public Library
Yoga on the Green
Aug 23 at Windsor Town Green
Concert on the Green
Aug 23 at Windsor Town Green
Farmers’ Market
Aug 23 at 240 Broad Street
New Teachers Reception
Aug 23 at Windsor Historical Society
Northwest Park"Nature Book Club"
4th Thurday of the month at Northwest Park, 145 Lang Road, Windsor, CT 0695
Park Here - Fly There
Aug 24 at Hampton Inn located at 2168 Poquonock Avenue • Windsor, CT
Study Spencer Repeating Rifles!
Aug 24 at Windsor Historical Society
Surf and Turf
Saturdays in August at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
The Breakfast Club & Brunch All Day
Sundays at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
Monday Morning Book Club
Aug 27 at Windsor Public Library
Learn to Crochet
Tuesdays at Windsor Public Library
Mobile Mammography
Aug 28 at Windsor Town Hall, 275 Broad Street, Windsor
Summer Classic Movie Series
Aug 28 at Windsor Public Library
Bring Your Gadgets to the Geeks
Wednesdays at Windsor Public Library
Farmers’ Market
Aug 30 at 240 Broad Street
Lobster Roll Mania
Sep 1 at The Tavern at Keney Park 171 Windsor Avenue Windsor CT 06095
The Breakfast Club & Brunch All Day
Sundays at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
Learn to Crochet
Tuesdays at Windsor Public Library
Still Young Book Club
Sep 4 at Union Street Tavern, 20 Union Street
Bring Your Gadgets to the Geeks
Sep 5 at Windsor Public Library
Ukulele for Beginners-B
Sep 5 at Windsor High School J113
Windsor Business Connections
1st Wednesday unless noted
Farmers’ Market
Sep 6 at 240 Broad Street
Wine Bottle Bingo
Sep 7 at Northwest Park Pavilion, Windsor, CT
Serial Surface Design Paint Play
Sep 8 at Windsor Art Center, 40 Mechanic Street, Windsor, CT 06095
Windsor Fife & Drum Parade & Muster
Sep 8 at Windsor Town Green
The Breakfast Club & Brunch All Day
Sundays at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
Keeping You & Your Heart Healthy
Sep 10 at Windsor Town Hall, 275 Broad Street, Windsor
Learn to Crochet
Tuesdays at Windsor Public Library
YPW Meeting
2nd Tuesdays at 261 Broad Street, Windsor
Bring Your Gadgets to the Geeks
Sep 12 at Windsor Public Library
Financial Talk with John Sheerin
Sep 12 at LP Wilson Community Center, All Purpose One Room
Alzheimer's Support Group
2nd Thursdays at Kimberly Hall North
Farmers’ Market
Sep 13 at 240 Broad Street
Jan's Sewing Hour
Sep 13 at Windsor Public Library
Connect with Spirit Under the Stars
Sep 14 at Brown's Harvest
The Breakfast Club & Brunch All Day
Sundays at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
Learn to Crochet
Tuesdays at Windsor Public Library
TVCA Table Top Expo
Sep 18 at La Notte, 17 Thompson Rd, East Windsor
Bring Your Gadgets to the Geeks
Sep 19 at Windsor Public Library
Farmers’ Market
Sep 20 at 240 Broad Street
Windsor Citizens Academy
Sep 20 at Various Town of Windsor faciliities
Free Film Friday
Sep 21 at Windsor Art Center, 40 Mechanic St, Windsor, CT 06095
Touch-A-Truck
Sep 22 at Brown's Harvest
British Wives & the American Rev
Sep 23 at Oliver Ellsworth Homestead
The Breakfast Club & Brunch All Day
Sundays at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
Cut the Cord
Sep 24 at Windsor Public Library
Grand Opening and Ribbon Cutting
Sep 24 at 97 B Pierson Lane
Monday Morning Book Club
Sep 24 at Windsor Public Library
Park Here - Fly There
Sep 24 at Hampton Inn located at 2168 Poquonock Avenue • Windsor, CT
Learn to Crochet
Tuesdays at Windsor Public Library
Bring Your Gadgets to the Geeks
Sep 26 at Windsor Public Library
Farmers’ Market
Sep 27 at 240 Broad Street
From Jazz to Soul
Sep 27 at Windsor Public Library
Windsor Citizens Academy
Sep 27 at Various Town of Windsor faciliities
Ray of Hope Celebration Bash
Sep 28 at The North House 1 Nod Road Avon, CT 06001
Maple To Table Fundraising Dinner
Sep 28 at Northwest Park
Take Apart Workshop
Sep 29 at Windsor Public Library
The Breakfast Club & Brunch All Day
Sundays at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
Learn to Crochet
Tuesdays at Windsor Public Library
Still Young Book Club
Oct 2 at Tunxis Grill, 3 Tunxis Avenue
Bring Your Gadgets to the Geeks
Oct 3 at Windsor Public Library
Windsor Business Connections
1st Wednesday unless noted
Farmers’ Market
Oct 4 at 240 Broad Street
Windsor Citizens Academy
Oct 4 at Various Town of Windsor faciliities
Chili Challenge
Oct 6 at Windsor Town Green
Windsor Lions Fall Craft Fair
Oct 6 at Town Greene
The Breakfast Club & Brunch All Day
Sundays at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
Essential Oils 101
Oct 9 at Windsor Public Library
Learn to Crochet
Tuesdays at Windsor Public Library
YPW Meeting
2nd Tuesdays at 261 Broad Street, Windsor
Bring Your Gadgets to the Geeks
Oct 10 at Windsor Public Library
Ukulele for Beginners-B
Oct 10 at Windsor High School J113
Alzheimer's Support Group
2nd Thursdays at Kimberly Hall North
Farmers’ Market
Oct 11 at 240 Broad Street
Windsor Citizens Academy
Oct 11 at Various Town of Windsor faciliities
The Breakfast Club & Brunch All Day
Sundays at The Tavern at Keney Park, 171 Windsor Avenue Windsor CT 06095
Healthy Minds
Oct 16 at Windsor Public Library
Learn to Crochet
Tuesdays at Windsor Public Library
Magic of Communication
Oct 16 at Windsor Public Library