Don’t wait until April 14 to get started. If you know you are going to need an extension file early. This is the era of personal responsibility. I didn’t know does not have an air of credibility to it, neither will it hold up with it comes to dealing with Uncle Sam! The following Income Tax preparation tips should help you have the most painless experience for filing your taxes.

1. Visit www.irs.gov , this will be the best resource for what you need to know and you can file your taxes with them. The IRS “Free File” offers free tax preparation software to prepare and e-file your 1040. State taxes come with an additional cost tacked on.

2. Whenever possible file your own taxes. You can do this using any tax preparation software. After which you can have a professional look it over to give you peace of mind. Be sure to use a reputable tax professional who signs the tax return and provides a copy.

3. If you do choose to go with an income tax professional be very cautious of tax preparers who claim they can obtain larger refunds than other preparers. It is advisable to avoid preparers who base their fee on a percentage of the refund.

4. Gather the correct tax documents for your income tax preparations, W-2 vs. 1099, receipts, medical bills whatever you deem necessary for your taxes have it handy.

5. If you are going to used tax software to prepare your taxes make sure it is a licensed copy bought by you. If you go the online route use only trusted and reputable companies such as Turbo Tax, H&R Block or your favorite. Do not give out your personal information.

6. File Online. No only will you save time, receive instant confirmation that the IRS received your tax forms on time but you will also speed up the refund process because it takes less time for the IRS to receive your taxes. All tax preparing professionals should be able to file your taxes online for you. Just ask and make sure you get documentation that your taxes were indeed e-filed.

7. Take Advantage of Direct Deposit. Remember how I said you will speed up the refund process earlier? If you file for direct deposit, you will receive your refund much more quickly. Just be sure to provide the correct details for the money to be sent to you. How will you know when you get it? Well…it’s going to be a nice huge sum that how you know. You will need your bank’s routing number and your account number. Both of these numbers are available on your ONLY on checks.

8. Avoid the temptation and beware of fast pay loan options

You will pay an exorbitant amount in fees and interest to receive your refund just a week faster than normal. With the ability to file online, and with the amount being direct deposited into your account, the estimated time to receive your refund is about ten days. This is a reasonable amount of time to wait. A little patience in the matter will save you hundreds of dollars. You’ll be glad you slept on it!

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