Are you feeling the pressure of tax season?
Don’t worry, here are a few helpful tips to help you stay on top of your taxes and to help make it a breeze!
Start early to avoid delays
Get ahead of your taxes this year by submitting your simple tax return early and choosing direct deposit with the IRS. If your tax return is a bit more complicated, don’t stress! Just start organizing your information and consider the help of a qualified tax professional.
You can get your tax refund up to 6 weeks earlier by filing electronically! The IRS works lightning-fast when it comes to e-filing, which means you get your money much faster than if you mailed in a paper return.
File and Accurate Return
In order to stay on top of your taxes and avoid any unwanted audits from the IRS, it’s important to take the extra step to ensure the accuracy of your tax return. Before filing, it’s always a good idea to double-check your return against the information the IRS has on file. Remember, taking the time to ensure accuracy can lead to a stress-free tax season and a brighter financial future.
Plan for an extension now if you need one
If you can’t get your tax information together by April 18th, you have the option to file an extension and ease the stress a bit. However, make sure that you pay the IRS what you owe to avoid unwanted penalties and interest.
Check new rules on credits and deductions
Did you know that tax credits and deductions can give you extra cash in your pocket or increase your refund? With the American Rescue Plan Act, certain tax credits got a temporary boost, and charity deductions had a special rule added. Now that some of these programs are ending, it’s a good idea to check the rules and amounts to see what applies to you.