Leesville tax seminar - KALB-TV News Channel 5 & CBS 2

Leesville tax seminar

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LEESVILLE, La. (KALB News Channel 5) - It's never too early for tax season. Residents in Leesville took part in a seminar held by H&R Block to learn about changes for 2014 as well as tips for filing this year

"As far as tax law changes the main thing has been the increase in the standard deduction, personal exemption that goes up every year. With the furlough, the IRS is not accepting returns until the 31st Of January," said Rhonda Midkiff.

"I really didn't realize that there were some exemptions that will be phased out so that was good information as well as finding out about other resources that might be available to assist me if I find myself in a slump," said Delores Tricewilson.

One of the most drastic changes is of course, the healthcare law.

"That does not affect the 2013 return. It starts January 1, 2014 and it will affect 2014 returns. Everyone has to have their healthcare or face a penalty," said Midkiff.

There are some tips for businesses as well.

"As business expenses, they need to keep good records. That is something that the IRS has been looking at the last two or three years and good records is an absolute must," said Midkiff.

If you received any other income during year, experts suggest you wait until you get all of the information you need before you file.

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