The Daily Deduction

In the Deadline Rush? Tax Tips to Bring The Ball Back Into Your Court and Kill The Clock

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As tax time runs out, the stress-level intensifies as we all struggle to get those returns in before the deadline.  The pressure can be too great and cause many filers to make easily-avoidable errors. There’s 11 days left to file on time.  Before you file, make sure you take advantage of these tax tips so you can turn the chaos of tax season into a victory for you.

Stay organized - This rule work every time whether it’s tax season or back-to-school time!  Keeping all of your important documents that pertain to a specific purpose organized and together will make preparing your income taxes much easier. Even if this means taking one spreadsheet and adding up all of your business deductions so you get a final number, keep all of that information in one place so that it’s easy to find.

File online - Filing online has its benefits:  Your return is more likely to be accurate, you’ll get your refund faster, and you’ll avoid the post office rush! 

Look into Filing an Extension - If circumstance prevent you from filing on time, know that you have the option to file a Form 4868, an Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, which will give you until October 15 to file.  If you owe the government any tax liability, be sure to pay it by April 15 because the Form 4868 does not extend your time to pay.

Posted To: The Daily Deduction By: Lauryn on 4/4/2014 02:15:00 AM
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