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|Top 10 tax-time tips|
|El Lechero Dairy Basics - Management|
|Tuesday, 15 March 2011 14:29|
Have you already filed your tax return? If not, make sure to file your return within a month. This year the deadline was extended until April 18 due to Emancipation Day, a holiday observed by the District of Columbia.
Emancipation Day falls on Friday, April 15, this year. However, don’t wait until the last minute to file your tax return and risk being charged late penalties and fees.
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
You’ll need your W-2s and 1099s 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.
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.
Give yourself time to weigh all the different options and find the one that best suits your needs.
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.