According to CNBC, 13% of Americans would rather go to jail than do their taxes. While you may not feel as strongly, there is a good chance that there are plenty of things youâ€™d rather spend your time doing than taxes this season. Use these tips before filing this season to help you maximize your time and return.
Keeping all of our important tax documents in one place will make a world of difference the day you do your taxes. Create a designated folder on your desktop for digital receipts and documents and a physical folder for paper copies. Trust us that your taxman (or woman) will thank you when you come organized. If youâ€™re doing your own taxes then youâ€™ll save yourself the hassle of searching for what you need.
Get What you Need from Work
By now your 2016 employers should have sent your W-2 or other documents you need. If you have not received the proper documents contact your employer as soon as possible. If you have contacted employers and received no reply then it might be time to contact the IRS. USA Today has helpful steps for how to handle not receiving your proper documents this tax season.
While the deadline to file your taxes is not until April 15, 2017 it is useful to file early. There are several reasons that filing early is beneficial whether you are getting money back or have taxes you owe. Filing early will guarantee you get your return earlier, as it generally takes two to three weeks for your refund to process and receive money. If you file and it turns out you owe then youâ€™ll have additional time to pay off the money owed. TurboTax, online tax prep software, has additional benefits to filing early.
It may be a frustrating season, but using these tips could help ease your mind!