Professional News

Preparing for Tax Season

LEXINGTON, Ky. (Nov. 8, 2018)  As tax filing time approaches, University Financial Services is providing information about resources available from the IRS.

The Internal Revenue Service has issued a notification reminder to help taxpayers prepare for the upcoming 2018 tax filing season.  

The IRS notification includes information to assist individual taxpayers with “Steps to Take Now to Get a Jump on Next Year’s Taxes” resulting from the 2017 Tax Cuts and Jobs Act enacted Dec. 22, 2017. The link has materials on employee withholding, tax refunds, the new 1040 form/electronic filing and IRS help.

Additionally, University of Kentucky employees are encouraged to review additional information by checking Publication 5307 — "Tax Reform Basics for Individuals and Families." An IRS Withholding Calculator to be used to perform a “paycheck checkup” in preparation for tax filing season is also provided.

You may also want to contact a tax professional about how tax reform impacts your personal 2018 tax filing.

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