Earlier is better when it comes to working on your taxes. Taxpayers are encouraged to get a head start on tax preparation, especially since early filers avoid the last minute rush and get their refunds sooner.
Here are seven easy ways to get a good jump on your taxes long before the April deadline is here:
Gather your records in advance. Make sure you have all the records you need, including W-2s and 1099s. Don't forget to save a copy for your files.
Get the right forms. They're available around the clock on the IRS Web site, IRS.gov.
Take your time. Don't forget to leave room for a coffee break when filling out your tax return as rushing can mean making a mistake.
Double-check your math and verify all Social Security numbers. These are among the most common errors found on tax returns. Taking care will reduce your chance of hearing from the IRS and speed up your refund.
Get the fastest refund. When you file early, you receive your refund faster. When you choose direct deposit, you receive your refund sooner than waiting for a check.
E-filing is easy. E-filing catches math problems, provides confirmation your return has been received and gives you a faster refund.
Don't panic. If you have a problem or a question, remember the IRS is there to help. Try the IRS Web site at IRS.gov or call the IRS customer service number at 1-800-829-1040.
Are you concerned that your efforts to get ready early may be affected by the Alternative Minimum Tax legislation passed by Congress in December? Most individuals will not be impacted, so it is still a good idea to get an early start on your preparations. Even if you are filing one of five forms affected by the recent legislation, the IRS expects to be ready for your return by February 11. You can review a list of the impacted forms and find out the latest news about when the IRS will be ready for your return at IRS.gov.
I have a friend who goes to the local IRS office and has the tax officials there do his return every year. It costs him nothing but the time and he has the reassurance that it has been done correctly. He claims that they find as many exemptions and writeoffs as he has gotten when he has gone to an accountant.
Login using the form on the top of the page to post feedback (if you are a registered user). If you have not yet registered, click here to do so. It's FREE!.
