Tax filing season is here, so it’s time to ensure you’re ready to get the most out of your filing. Peggy Riley, an IRS Media Relations Specialist, shared important Tax Tips!
Tax Tips from the IRS!
Tax Season – late start, we didn’t start accepting returns until Jan 31, but everyone can file now and we have already sent out millions of refunds.
Free File – free tax preparation software offered by 14 tax preparation companies in partnership with the IRS. Income must be $58,000 or less.
Volunteer sites – volunteers are trained by the IRS and they set up sites in the local community to assist taxpayers and help prepare returns for free.
IRS.gov – a lot of people can get the answers they need online. Interactive Tax Assistant walks the taxpayer through questions to get to their answer. Where’s My Refund? to check the status of your refund, Withholding Calculator, to help you determine how much should be withheld from your pay, etc.
Filing deadline is April 15, 2014, if you can’t file on time, file an extension Form 4868. This is an extension of time to file but not time to pay, you must send in a payment with the extension form. You can also set up an installment agreement with IRS if you can’t pay the amount in full.