Tax Time: Early Birds Catch a Breather
April 15 may seem light-years away, but taking control of your tax situation now can save you time and frustration later. By getting a jump start you’ll have time to request copies of missing documents; avoid the last minute rush; and, if you’re getting a refund, probably receive it sooner.
Here are some tips:
- Gather records in advance. Make sure you have the documentation you need, including W-2s and 1099s. Save a copy for your files.
- Get the right forms. Visit your local library or check the IRS (Internal Revenue Service) website’s Forms and Publications section at http://www.irs.gov.
- Give yourself a break--a coffee break, that is. Rushing can cause errors, so take your time.
- Double-check your math and Social Security number. These are among the most common errors on tax returns.
- Use direct deposit. Let the IRS put your refund right into your account.
- Consider filing electronically. It’s easy and fast and the refund will be in your account even faster.