Each year, thousands of people opt to wait until the last possible minute to complete their yearly tax return.
Whether the reason is lack of time or simple procrastination, the stress invoked from such a choice can be massive.
In this article we will outline a few last minute tips to help get meet the April deadline.
1.
File Electronically - Filing your return electronically can save precious time and money.
Those choosing this method are afforded the option of having their return automatically deposited into a bank account of their choosing, allowing individuals to receive their return in as few as 10 days.
The process is easy cost effective.
In fact, most online returns can be filed for free! 2.
Check the Identification Numbers - If you choose to file using the paper method, be sure to check the identification numbers for each person listed.
This includes any and all dependents, your spouse, and yourself.
Missing, illegible, or incorrect numbers can delay or even reduce your refund.
3.
Double Check the Figures - It's never a bad idea to go back over your work.
4.
Tax Table Check - Be sure to double check whether you have used the correct figure from the tax table.
5.
Sign the Form - Make sure to sign and date your return.
Spouses must both sign a return form, even if only one income was filed.
If you pay to have your return prepared, then that individual must also sign.
6.
Mailing the Return - Use the coded envelope which was included with your tax package materials to send out the return.
Those that did not receive an envelope should inspect the section entitled "Where Do You File?" in the instruction booklet.
7.
Check Payments - If you are required to pay, a check should be made out to "United States Treasury".
This check should be mailed with the tax return or the form 1040-V, if applicable.
Checks should include a daytime phone number, tax year, social security number, and the type of form filed.
8.
Electronic Payments - If you have opted to file electronically, you can authorize an electronic funds withdrawal, or simply use a credit or debit card.
9.
Extension - If you're truly unable to finish your paperwork on time, you may request an extension.
Though it is important to keep in mind that this extension to file is not an extension of time to pay.
10.
Once you've completed your return, you can check the status of your refund by logging onto IRS.
gov and clicking the "Where is My Refund?" link.
Whether the reason is lack of time or simple procrastination, the stress invoked from such a choice can be massive.
In this article we will outline a few last minute tips to help get meet the April deadline.
1.
File Electronically - Filing your return electronically can save precious time and money.
Those choosing this method are afforded the option of having their return automatically deposited into a bank account of their choosing, allowing individuals to receive their return in as few as 10 days.
The process is easy cost effective.
In fact, most online returns can be filed for free! 2.
Check the Identification Numbers - If you choose to file using the paper method, be sure to check the identification numbers for each person listed.
This includes any and all dependents, your spouse, and yourself.
Missing, illegible, or incorrect numbers can delay or even reduce your refund.
3.
Double Check the Figures - It's never a bad idea to go back over your work.
4.
Tax Table Check - Be sure to double check whether you have used the correct figure from the tax table.
5.
Sign the Form - Make sure to sign and date your return.
Spouses must both sign a return form, even if only one income was filed.
If you pay to have your return prepared, then that individual must also sign.
6.
Mailing the Return - Use the coded envelope which was included with your tax package materials to send out the return.
Those that did not receive an envelope should inspect the section entitled "Where Do You File?" in the instruction booklet.
7.
Check Payments - If you are required to pay, a check should be made out to "United States Treasury".
This check should be mailed with the tax return or the form 1040-V, if applicable.
Checks should include a daytime phone number, tax year, social security number, and the type of form filed.
8.
Electronic Payments - If you have opted to file electronically, you can authorize an electronic funds withdrawal, or simply use a credit or debit card.
9.
Extension - If you're truly unable to finish your paperwork on time, you may request an extension.
Though it is important to keep in mind that this extension to file is not an extension of time to pay.
10.
Once you've completed your return, you can check the status of your refund by logging onto IRS.
gov and clicking the "Where is My Refund?" link.
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