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It’s that time of the year again, the income tax filing season
has begun and important tax documents should be arriving in the mail. Even
though your return is not due until April, getting an early start will make
filing easier. Here are the Internal Revenue Service’s top 10 tips that will
help your tax filing process run smoother than ever this year.
- Start gathering your records 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.
- Be on the lookout W-2s and 1099s will be coming soon;
you’ll need these to file your tax return.
- 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.
- Try IRS e-file: After 21 years, IRS e-file has become the
safe, easy and most common way to file a tax return. Last year, 70 percent of
taxpayers - 99 million people - used IRS e-file. 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.
- Consider other filing options There are many different
options for filing your tax return. You can prepare it yourself or go to a tax
preparer. You may be eligible for free face-to-face help at an IRS office or
volunteer site. Give yourself time to weigh all the different options and find
the one that best suits your needs.
- Consider Direct Deposit If you elect to have your refund
directly deposited into your bank account, you’ll receive it faster than
waiting for a paper check.
- Visit the IRS website again and again The official IRS
website is a great place to find everything you’ll need to file your tax
return: forms, publications, tips, answers to frequently asked questions and
updates on tax law changes.
- Remember this number: 17 Check out IRS Publication 17,
Your Federal Income Tax on the IRS website. It’s a comprehensive collection of
information for taxpayers highlighting everything you’ll need to know when
filing your return.
- Review! Review! Review! Don’t rush. We all make mistakes
when we rush. Mistakes will slow down the processing of your return. 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.
- Don’t panic! If you run into a problem, remember the IRS
is here to help. Try
http://www.irs.gov or call toll-free at 800-829-1040.
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