New IRS Withholding Tables Available

The Internal Revenue Service has released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the accuracy of withholding following major changes made by the new tax law.

The updated withholding information, posted on IRS.gov, shows the new rates for employers to use during 2018. Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018. They should continue to use the 2017 withholding tables until implementing the 2018 withholding tables.  For more information, see IRS Newswire Issue No. IR-2018-5.

Filing 2017 Tax Returns

IRS announced that it will begin accepting electronically filed tax returns on Monday, January 29, 2018.  The last day to timely file a 2017 individual income tax return or an extension of time to file will be April 17, 2018.   By law, the Dept. of Treasury cannot issue refunds including Earned Income Tax Credit (EIC or EITC) or the Additional Child Tax Credit until mid-February. 
In spite of those delays, the best protection against fraudulent returns filed under your social security number is to file your tax return as early as possible.  You should receive your W-2s and 1099s by the end of January and your K-1s by March 15. 
You can find more information about filing your tax return here.

Happy New Year 2018

Happy New Year from all of us at 

Varley Law Office PLC

We wish you all a Blessed and Prosperous 2018

Inclement Weather Policy

۞ A reminder as we brave the arctic cold snap, that our office will be closed or will close early or will delay its opening if the West Central Valley Community School District cancels classes or dismisses early or postpones the beginning of classes, respectively, due to inclement weather or hazardous road conditions.  School closing announcements are available on various media and there is a link to the schools' website here.  We wish you a safe and healthy new year, as well.