Quick Tips for the Procrastinating Tax Filer

Tax Planning African Woman Listening Music

Are you a spring procrastinator who has put off filing your tax return? No matter whether you are due a tax refund or owe money, with just a few days left before the April 15 tax deadline, you probably want to spend as little time as possible filing your tax return. When you go online and e-file your taxes you will find that it’s fast, easy, and convenient.  No appointment is necessary.  There are also some other advantages:

Saves Money. Let’s face it – no one wants to spend a fortune preparing and filing tax returns. TurboTax has the solution, with online tax software that you use to easily prepare and file your taxes right from your computer, smart phone or tablet. For simple tax situations (1040EZ or 1040A) you may be able to file your federal taxes free, and even if you own a home, have rental property, or own a business you can still file and save money by filing with TurboTax.

Secure. Using a legitimate online tax program such as TurboTax is a smart way to protect your identity. You’ll be able to set up multi-factor authentication when you file, to give you even more protection. Within 48 hours after you e-file your tax return, the IRS will send you a notice of acknowledgement that it has received your tax return. That way, you’ll know it has reached its destination and is in the right hands.  If you file by snail mail you won’t know if the IRS received your taxes or not.

Complete. It is important to gather your input for your tax return before you start. Gather together your W-2s and 1099s, so you’ll have them handy when you begin the process. If you claim the standard deduction, you are in good company, as over 70% of individual filers claim the standard deduction. If you do intend to itemize your deductions, make sure you have forms like your 1098 mortgage interest or property tax bill handy. The more organized you are when you sit down to prepare and file your tax return, the faster you can complete it and get on with your life.

Accurate. No matter how careful you are, filing your tax return by hand may cause math errors or transpositions to crop up. When you prepare your tax return online, the tax software does the calculations for you based on your entries and the numbers are neat and legible.  TurboTax will also check for over 350 tax deductions and credits and give you the ones you are eligible for.

 

Comments (1) Leave your comment

  1. I retired and have no income for last year due to business . I do rent a house; does that make me have a business again?

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