Spring is here and hypothetically the temperature is warmer, the birds return and your taxes are due. Some of you organized people, the very few that exist in the world, already have your rebate back. Congratulations and we mean that sincerely! It’s the rest of you that need help and we’ve got you covered.
1. You have to file- it’s the law.
They may not find you the first year, but they will find you. According to the IRS, taxes benefit everyone. If you don’t pay them they will encourage you to self-correct. Failure to do so will result in “vigorously” applying both civil and criminal sanctions. That doesn’t sound like fun.
2. You can do it yourself.
If you like puzzles and math, figuring out your taxes and then electronically filing can be a grand adventure. Forbes magazine has these strategies to add-
2. Understand Affordable Care Act Requirements
3. Carefully evalutate itemizing verus taking the standard deduction
4. Don’t overlook “extender” tax breaks.
5. Choose your filing status carefully
6. Contribute to an IRA, SEP IRA, or HSA
7. Beware of Tax Return Fraud
8. Get an extension if you need more time.
9. File electronically
10. Divide your direct deposit refund into different accounts.
*Read the whole article and take advantage of the helpful links
3. You can hire some one to do your taxes
Pulling your hair out is really painful. Sometimes it make sense to give others a chance to do what they do best. Once again the IRS is ready to help you. In fact, they offer tips on their website not only to help you do your taxes but to help you choose someone to do them for you. Here’s the top three tips:
- Check the person’s qualifications
- Check the preparer’s history
- Find out about their service fees.
If you really want the fastest way to find a trusted tax professional, just post a message to your Facebook friends asking them and the “google” the name they give you.
4. You may have a property tax rebate coming.
If you think you were due a property tax refund and didn’t receive it (they started sending them last fall) there is now a hotline you can call: 518-453-8146. For more details on the program, you can read the rest of the article. If you need to check on your refund, you can go to this website and get a status update.