It’s that time of the year again, the
income tax filing season has begun and important tax documents should be
arriving in the mail. Even though your return is not due until April,
getting an early start will make filing easier. Here are the Internal
Revenue Service’s top 10 tips that will help your tax filing process run
smoother than ever this year.
1. Start gathering your records
Round up any documents or forms you’ll need when filing your taxes:
receipts, canceled checks and other documents that support income or
deductions you’re claiming on your return.
2. Be on the lookout W-2s and 1099s will be coming soon; you’ll need these to file your tax return.
3. Use Free File: Let Free File do the hard work for you with brand-name tax software or online fillable forms. It's available exclusively at http://www.irs.gov.
Everyone can find an option to prepare their tax return and e-file it
for free. If you made $58,000 or less, you qualify for free tax software
that is offered through a private-public partnership with
manufacturers. If you made more or are comfortable preparing your own
tax return, there's Free File Fillable Forms, the electronic versions of
IRS paper forms. Visit www.irs.gov/freefile to review your options.
4. Try IRS e-file:
After 21 years, IRS e-file has become the safe, easy and most common
way to file a tax return. Last year, 70 percent of taxpayers - 99
million people - used IRS e-file. Starting in 2011, many tax preparers
will be required to use e-file and will explain your filing options to
you. This is your chance to give it a try. IRS e-file is approaching 1
billion returns processed safely and securely. If you owe taxes, you
have payment options to file immediately and pay by the tax deadline.
Best of all, combine e-file with direct deposit and you get your refund
in as few as 10 days.
5. Consider other filing options
There are many different options for filing your tax return.You can
prepare it yourself or go to a tax preparer.You may be eligible for free
face-to-face help at an IRS office or volunteer site.Give yourself time
to weigh all the different options and find the one that best suits
your needs.
6. Consider Direct Deposit
If you elect to have your refund directly deposited into your bank
account, you’ll receive it faster than waiting for a paper check.
7. Visit the IRS website again and again
The official IRS website is a great place to find everything you’ll
need to file your tax return: forms, publications, tips, answers to
frequently asked questions and updates on tax law changes.
8. Remember this number: 17
Check out IRS Publication 17, Your Federal Income Tax on the IRS
website. It’s a comprehensive collection of information for taxpayers
highlighting everything you’ll need to know when filing your return.
9. Review! Review! Review!Don’t
rush. We all make mistakes when we rush.Mistakes will slow down the
processing of your return. Be sure to double-check all the Social
Security Numbers and math calculations on your return as these are the
most common errors made by taxpayers.
10. Don’t panic! If you run into a problem, remember the IRS is here to help. Try http://www.irs.gov or call toll-free at 800-829-1040.
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