Taxes 101: How to File Your Taxes
As you well know, everyone in the US must pay taxes. Your taxes go toward roads, schools, national parks, the military. These are things that we all need for our country to function and these things are not free. Our tax system is set up to tax our income in order to pay for these important things.
Each year, you complete your tax return, which is essentially a calculation to determine whether you have paid too much or too little of your income throughout the year. If you have paid too much, the government owes you some of your money back. If you have paid too little over the course of the year, you will owe the government more money at tax time.
Completing and filing your taxes each year can be stressful and time consuming but there are several steps you can take to make filing simple and easy:
Get organized: As your tax information comes in via US mail (or email), put it all in one place. Make yourself an annual file and place all your relevant tax information in your file. This also includes any information you receive throughout the year from charitable donations.
Give yourself plenty of time: Whether you are using pen and paper, online tax software or a tax professional, you will need to give yourself time to pull all of your information together (W-2s, 1099s, social security numbers, etc.).
Take a second glance: Small mistakes like an incorrect address or social security number can delay your refund and draw extra attention to your return. Take special care to review your return for small errors that you can catch before submitting your taxes to the IRS.
Submit online: If you submit your taxes online, you will receive a confirmation directly from the IRS that your tax return has been received. If for some reason, there is a problem with your return, you will receive notification of that from the IRS as well. Filing online is also the most secure way to file and means that your return will actually be processed faster than if you mail it.
Get help if you need it: The most important thing that you can do to ensure that your taxes are done correctly is get help if you have questions. There are more than 1000 forms to choose from and lots of areas that can be confusing. You are better off getting help before you submit your taxes than waiting for the IRS to find an error and come back to you, or even request an audit.
If you find that you need support from a tax firm, call Success Tax Relief at 1-877-958-6638. We have been working with clients for more than thirty years on routine tax preparation, audit support and can conduct important negotiations with the IRS when necessary. Our professional tax team is ready to get started helping you. We can review your taxes, make recommendations for increasing your return and provide support in the event of questions after you submit.