The deadline for filing your taxes is quickly approaching.
Don’t Wait Until the Last Minute
While the IRS doesn’t require you to file your taxes until midnight on Monday, April 15, waiting until the last minute is a mistake. By filing your taxes early, you will get your refund sooner. In addition, you won’t have to rush to get everything done, which can lead to costly mistakes.
Gather Necessary Documents
Filing taxes requires a number of necessary documents. For salaried employees, you will need to have your W-2 form. This will list important information such as your annual wages and withheld taxes. If you are a freelance worker, you will need your 1099 forms, which include a list of your yearly income. Depending on your situation, you will need additional documentation such as records of income and expenses, jury duty records, and 1098 series forms.
Consider Filing Your Taxes Online
Thanks to e-filing options, filing your taxes is more convenient than ever. By filing your taxes online, you will get a faster refund. Instead of the six to eight weeks you would have to wait if you filed via mail, e-filers will get their refund within three weeks. You will also receive immediate confirmation by the IRS that your tax return was received.
Get Professional Assistance
Filing taxes can get pretty confusing. To avoid making any mistakes, consider enlisting the help of a professional. If you don’t want to spend money hiring a tax accountant to handle your finances, The Volunteer Income Tax Assistance program offers free tax support for people with disabilities, language barriers, or who make $55,000 or less.
Knowing your options and being prepared is the best way to avoid added anxiety while filing taxes. We hope our list of tax season advice will help make the process smoother for you as April 15 approaches.
