NEW YORK--(BUSINESS WIRE)--Apr 18, 2019--April 15 has come and gone. Taxpayers hopefully have either filed their returns, requested a filing extension, or are entitled to an extension without requesting one. Some taxpayers, such as those overseas, military personnel in a combat zone, or persons in designated disaster areas, may have an automatic extension to file without the need for a request.
However, a number of outstanding issues could still have an impact on 2018 tax returns. Some taxpayers filing for an extension may have been intentionally waiting for some of those issues to be resolved. Taxpayers who have already filed may have to consider filing an amended return if they are impacted by continuing changes that retroactively apply to 2018 tax returns.
“Even if you have already filed your tax return, it is a good idea to stay alert for additional changes impacting 2018 tax returns,” said Mark Luscombe, JD, LLM, CPA and Principal Federal Tax Analyst for Wolters Kluwer Tax & Accounting. “Your tax professional can be a big help in alerting you to these additional changes as they occur throughout the year.”
Possible changes to watch for that could still impact 2018 tax returns include:
As time passes, there will probably be greater pressure not to give retroactive application to further tax changes. However, as with expired provisions and technical corrections, some taxpayers are pushing for retroactive application. All taxpayers will need to stay alert for continuing developments with a possible impact on their 2018 tax returns.
About Wolters Kluwer
Wolters Kluwer Tax & Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy, and efficiency.
Wolters Kluwer Tax & Accounting is part of Wolters Kluwer (WKL), a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.
Wolters Kluwer reported 2018 annual revenues of €4.3 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
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SOURCE: Wolters Kluwer Tax & Accounting
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PUB: 04/18/2019 08:00 AM/DISC: 04/18/2019 08:00 AM