Don’t Wait Until the Last Minute to File Your Taxes: Tips for a Smooth Filing Process

Don’t Wait Until the Last Minute to File Your Taxes: Tips for a Smooth Filing Process

It’s common practice for people to wait until the last minute to file their taxes. Rushing through the process increases the risk of making errors that would delay your tax return, add interest to any unpaid taxes, or result in an audit. Here are some tips to help you get your tax return in on time and error-free.

1. Use tax preparation software.

Tax preparation software is the easiest and fastest way to get your tax return completed and filed by the deadline. Software handles all the calculations and also helps identify deductions and credits that you may be eligible for. When preparing tax documents in a hurry, it’s easy to make mistakes when entering information such as mailing address, social security number, or prior year adjusted gross income, which can cause issues with your return.

2. Always sign your tax return.

Tax returns are invalid without signatures. No matter if you’re mailing a paper form or electronically filling it, don’t forget to sign your tax return.

3. Double-check your bank numbers.

The IRS makes it easy for you to get your tax refund by sending the money to your bank by direct deposit. Take a moment to confirm that you’ve entered the correct bank account and routing number on your tax form. If you enter incorrect numbers, the IRS will mail your refund to your recorded address, which could take extra time. If the banking information you enter mistakenly turns out to be someone else’s, that person could end up with your refund.

4. File for an extension.

Failing to file by the tax deadline can be a costly mistake, but it’s easy enough to avoid. If you think you won’t make the tax filing deadline, file an extension. This gives you six additional months to submit your return. Note that if you don’t file and you owe, the IRS can start adding interest to the total, which can add up to a significant amount over time.

Ready to file your taxes?

The whirlwind of last-minute tax filing can be stressful. If you need assistance, let me help you. Schedule a call with me today!

Related Posts

Record Keeping for Construction Businesses

Record Keeping for Construction Businesses

If you’re a contractor, it can be challenging to manage a hectic schedule and complex projects, all while ensuring your paperwork, documents, and contracts are in order. It’s important to keep a paper trail of your work and practice due […]

Read More… from Record Keeping for Construction Businesses

Read More
Demystifying 1099-NEC: A Business Owner’s Guide to Tax Reporting Essentials

Demystifying 1099-NEC: A Business Owner’s Guide to Tax Reporting Essentials

Navigate tax complexities with this guide to issuing forms for contractors, consultants, and more. Stay compliant and avoid penalties!

Click below for my latest blog.
[…]

Read More… from Demystifying 1099-NEC: A Business Owner’s Guide to Tax Reporting Essentials

Read More
Beyond Tax Season: 5 Key Actions Small Business Owners Must Take

Beyond Tax Season: 5 Key Actions Small Business Owners Must Take

Tax season may be over, but don’t let your guard down just yet. As a small business owner, staying on top of tax-related tasks is essential throughout the year. Lucky for you, I’ve got some great tips to help you […]

Read More… from Beyond Tax Season: 5 Key Actions Small Business Owners Must Take

Read More