Last Minute To Dos before Filing Your Taxes

    

Checklist

As the tax filing deadline approaches, it's natural to wonder if you've missed any important aspects of preparing your income tax return. Even if you're close to April 15, there are still a few last-minute things to do before filing your taxes. You might be in a hurry to get your refund, but it's always better to make sure that you've dotted all your i's and crossed all of your t's before you send your taxes to the IRS

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1) Complete Every Necessary Tax Document

Many income tax returns are returned by the IRS for small, avoidable tax mistakes. If a taxpayer forgets to sign a form or include the proper Social Security number, the IRS cannot process the form and has to send the return back. These kinds of processing errors can cause serious delays in crediting your account with payment or in sending your refund.

Check each tax form for any missing or incomplete fields. If you are filing your return jointly with your spouse, both of your Social Security numbers are required on most documents. Make sure that you also include the birth dates and Social Security numbers of your dependents.

2) Ask Your Preparer about Any Major Changes

If you have your return prepared by a third-party or a company and you notice that your refund is significantly higher or lower than last year, inquire as to why your result is different. In some cases, you may have a legitimately higher refund, which can be a pleasant surprise.

However, if your return is prepared incorrectly, the IRS will hold you responsible, not the tax preparer. So make certain that you understand exactly how your refund or balance was calculated, and don't be afraid to ask for an explanation of any part that seems unclear.

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3) Include Any Necessary Payment

Do you owe a balance to the IRS this year? If so, be sure to remit your tax payment by the filing deadline. What if you're unable to pay the full amount due? Request an installment agreement from the IRS and send the initial payment by the tax deadline. Remember: If you make your payment by a money order or check, you'll need to address the payment to "United States Treasury" and enclose the appropriate payment voucher.

Once your income tax return is completed, take a few moments to do a last-minute tax filing inspection. Look at each document to make sure it's completed. Talk to your preparer if you notice any major adjustments from last year. Enclose your paper payment or remit your payment online. If you do, you can send off your return with confidence, knowing you've filed it properly. 

 
 
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