Where’s my tax refund? Pass the Kleenex and the chocolate, please. . .

It’s tax-filing time, and many filers are in a state of shock: “What happened to my refund?”

Everyone knows giving interest-free loans to the government may not be the best idea, yet the comfort derived from receiving that extra cash is reassuring, like a small pat on the head for being a good, honest taxpayer.

Tax preparers are pulling out all the stops. Many offer baskets filled with coffee, beer, extra tissues and chocolate during the tax interview to soften the blow of no refund — or worse, the possibility of owing more tax. A national tax firm provides “empathy training” to help CPAs coach clients distraught by a lower refund or unexpected tax bill.

As we enter the home stretch to April 15, remember that you have options, even though deduction limits and caps on mortgage and home equity interest are in effect, and deductions for state and local taxes are limited.

▪ IRA contributions are allowed until the tax filing deadline, including the traditional IRA, non-deductible IRA, and highly desirable Roth IRA, if you qualify.

▪ Premiums paid to the health insurance marketplace may be deductible, or you can apply for a health-care income-based tax credit.

▪ Tax benefits for education are still popular, and if you funded a 529 plan by Dec. 31, 2018, you may receive state income tax benefits.

▪ Review charitable contributions in your check register or online bill-pay records, including credit-card donations. Tell your tax preparer if qualified charitable donations, known as QCDs, were made from your IRA account.

▪ A properly diversified global equity portfolio contains developed-market and emerging-market companies. Check your 1099s for foreign tax paid or dividends withheld on foreign company stocks.

Remember that basic, low-cost investing in public equities and municipal bonds still works. Exchange-traded funds may be more tax-efficient than complex, expensive investment products. Municipal bond interest is still largely tax-exempt. Ordinary dividends and capital gains are still taxed at a lower rate than ordinary income.

The year is nearly one-third over, so it’s not too early to begin investment and tax planning for the 2020 tax season. Bring your tax, investment and estate professionals together now to work harmoniously on your behalf, and avoid unpleasant surprises next year.

Mark Daly is an investment management analyst and a partner in The Perpetua Group. mark@theperpetuagroup.com