Attention Texans, you have a date. Unfortunately, this is not the kind of date any of us are looking forward to. The date we’re talking about is with the Internal Revenue Service.
For residents of Texas cities large and small, the promise of a refund from the Federal Government is reason enough to spend a few hours gathering W-2s, W-9s, Social Security Cards, and receipts so taxes can be filed and refunds returned.
Tax professionals in Houston, Beaumont, Montgomery, Jasper, Lufkin, and other cities and towns will tell you that if you plan your finances wisely you won’t owe taxes at the end of the year nor will you be getting an extraordinarily large refund. You did know there was a downside to getting a large refund, right?
Now if you are expecting a tax refund from the IRS you should know some folks in Texas will not be getting that money even if their tax preparer says they are owed one. There are several reasons why that refund could be delayed, reduced, or even canceled…