Although the original filing date for tax return filings has passed, if you are on an extension, there is still time to review your information and what you need for easy filing.
First things first: decide how you’ll file. If you have been doing your own tax returns but your life got more complicated this year, such as starting a business, getting married or divorced, or having a baby, and you can claim childcare expenses, it might be worth hiring a tax pro. The earlier you do that, the more likely you’ll avoid the last-minute rush (and the higher prices that come with it).
Prefer to do it yourself? The IRS offers free filing tools like Free File, Direct File, and even in-person help through the VITA program for qualifying taxpayers. These programs make it easier and more affordable to get your taxes done right.
Another smart move? Set up an online IRS account. You’ll get easy access to your tax history, any money you owe, and you can even set up payment plans without having to wait on hold.
If you’re 73 or older, don’t forget to take your required minimum distributions from retirement accounts. And if you’re thinking long-term, this might be a good time to talk to a financial advisor about converting your IRA to a Roth.
And here’s an important reminder: watch out for scams. The IRS won’t text, direct message, or call you out of the blue. Always vet your tax preparer and be cautious with your info.
Finally, if the IRS sends you a letter, don’t ignore it. Respond quickly, keep records, and use certified mail if you reply by post. It could save you from penalties, or worse.
If you need a referral to a tax preparer, reach out to us. We’ll be happy to give you contact details for someone we know and trust. We can be reached at 310-534-5577 or contact@abandp.com.
Remember, tax prep doesn’t have to be difficult. Prepare now for a smoother filing. You’ll be glad you did!
https://www.bankrate.com/taxes/tips-for-filing-taxes/#dont-ignore-irs
