(Radio Iowa) – The deadline to file your federal tax returns is under a month away now, and a certified public accountant in central Iowa is urging people to get their shoeboxes full of receipts together, pronto. Jeff Strawhacker, a C-P-A in Urbandale, says the majority of his clients are very aware of the looming deadline but there are always a few procrastinators who will end up having to file for an extension. “There’s a combination of both,” Strawhacker says. “Most people are very good about getting us the materials we need. Obviously, a lot of people are waiting either for 1099s from brokerage firms, maybe K-1s from partnerships and S Corporations, so those kind of get pushed to the end, but that’s just part of the normal process.”

The I-R-S touts electronic filing as the most accurate method to use, in addition to e-filing bringing a faster refund check. While there were delays during the pandemic, Strawhacker says refunds are back on track this year. “Usually those refunds are coming out within about a two- to three-week period,” Strawhacker says. “The things that make that go faster is, make sure things are accurate on the return, that things aren’t missing, proper lines are filled in. If they want direct deposit, that information is put in there, because if you’re doing direct deposit, it’s speeding up the refunds. You want a paper check? It may take a few more weeks to get that paper check.”

Strawhacker says there were a few minor changes on the federal side that folks will want to note, and big shifts are likely on the state side next year. “There’s been some changes to the Child Tax Credit rules and Dependent Care rules. Those had some expanded provisions back in ’21 due to the pandemic. Those were not extended, so that could impact some people,” Strawhacker says. “And in Iowa, Iowa has not gone through a lot of changes for the ’22 returns, but 2023 is a whole different story, because they’re going through some massive tax reform.”

While practically everyone likes to get a big, fat refund check, Strawhacker says it’s his goal to get his clients’ withholdings adjusted so they’re close to breaking even every year. “If you’re getting a refund, that’s simply dollars that you have paid into the tax system during the year, either through payroll tax withholdings or estimated payments, but that’s your money that you’ve paid in, and you’ve just paid in more than you need to,” Strawhacker says. “So all they’re doing really at the end of the year is giving you back the excess funds, so think about it as an interest-free loan to the government.”

The deadline for filing federal taxes is April 18th this year, while state tax returns are due May 1st.