For young adults who are about to file tax returns for the first time, the prospect can be intimidating to say the least.
The good news is that first-time filers are less likely to have complex financial circumstances that would result in hundreds of pages of tax documentation.
"It's usually pretty easy if you're just getting started," said Greg Hammer, CEO and president of Hammer Financial Group in Schererville, Indiana.
The IRS expects to receive close to 155 million individual tax returns this season, with a due date of April 17 (not the usual April 15).
For first-time filers, some of what they learn now won't apply next year: 2017 tax returns are subject to laws in effect before the massive congressional tax bill took effect Jan. 1. With few exceptions, the tax changes created by the legislation will apply beginning with your 2018 returns.