NASHVILLE, Tenn. (WTVF) — Get your W2 ready, you can start filing your taxes starting Monday morning. Experts say it's important to get a head start because there are some changes this year.
Most people will see a smaller tax return – about 2 percent less – because of the Tax Cuts and Jobs Act of 2017.
It takes away personal and dependent exemptions and puts a limit on itemized deductions. So, there's not a lot of options for people to get as much back as they used to.
For those of you who have children, you'll get a lot more. The child tax credit is double what it used to be – that’s $2,000 per child under 17.
The federal income tax form is also new and won't look as familiar to you this year.
Again, experts say because of these changes give yourself some extra time this year.
If you want to hire someone, make sure that person has a preparer tax ID number. They'll also typically have a set fee. The IRS says to be wary of people who want a percentage of your refund.
