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WJTV — The deadline for filing income taxes is less than one month away.
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IRS Spokesman Mark S. Green wrife tax tips for those still working on their tax returns. The deadline for filing returns this year is set for April We estimate that 1. The answer is yes! Below are some tips from the IRS: Choosing a Qualified Tax Preparer: The IRS has an online public directory of tax return preparers the IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications This searchable directory on IRS.
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All tax professionals preparing returns for a fee must have a Preparer Tax Identification Number PTIN. Make sure you have all the documents you need to file your tax return.
If you own a home, you will need Form detb get the amount of mortgage interest and real estate taxes you paid. If you itemize, make sure you article source the receipts for all your deductions such as charitable donations and medical expenses. You will also need a Social Security number SSN for yourself, spouse and any dependents listed on the return. Inaccurate or missing information could baad your refund. Several deadlines falling on or after January 20,and before May 31,are granted additional time to file.
To collect these refunds a tax return must be filed with the IRS no later than April 18, File Electronically for Free: You can file electronically now and set your automatic payment for April 18th. You can e-file through a tax preparer, personal computer and tax preparation software or using the IRS Free File program. To Free File, go to the IRS Web site at https: Remember, you must access all Free File software companies through the IRS Web site.
Electronic filing has many benefits.
Common mistakes may include forgotten deductions wrie credits, incorrect filing status, or missed income Choosing a Qualified Tax Preparer: However, it is important to understand that regardless of your reason for paying taxes late, the IRS will charge interest and penalties for As a hobbyist, you can usually deduct your hobby expenses up to the amount of your hobby income.
E-filing offers faster refunds, more accurate returns, paperless filing, and confirmation within 48 hours that IRS has accepted your tax return. What are some of the most common errors people make when filing a paper return? Social security number missing, illegible or SSN and name do not match Failure to sign and date the return. For a joint return, both spouses must sign.
Earned Income Credit figured or entered incorrectly. Incorrect tax amount entered from the tables. Double-Check Your Figures — If you are filing a paper return, you should double-check that you have correctly figured the refund or balance due. Check the Identification Numbers — When filing a paper return carefully check the identification numbers — usually Social Security numbers — for each person listed. This includes you, your spouse, dependents and persons click at this page in relation to claims for the Child and Dependent Care Credit or Earned Income Tax Credit.
Missing, incorrect or illegible Social Security Numbers can delay or reduce a tax refund. Watch Out for Phone Scams: Aggressive and threatening phone calls by criminals impersonating IRS agents remain an ongoing threat to taxpayers. The IRS has seen a surge of these phone scams in recent months as scam artists threaten police arrest, deportation, license revocation and other things. Taxpayers need to be on guard against fake emails or websites looking to steal personal information.
The IRS will bad debt write off irs gov efile send you an email about a bill or refund out of the blue. Taxpayers should be wary of clicking on strange emails and websites. They may be scams to steal your personal information. Taxpayers need to watch out for identity theft especially around tax time. The IRS is making progress on this front but taxpayers still need to be extremely careful and do everything they can to avoid becoming a victim.
Realized you need to fix an error on your return? The IRS will usually correct math errors and may even accept returns with certain forms or schedules left off. But if, for example, you forgot to include reportable income or a deduction or credit, you can file a Form X to amend your return. The form is available at IRS. Be sure to wait until your original return has processed before trying to amend it.
Keep a copy of your tax return? Now that your tax return is complete, be sure to keep debt write copy visit web page it.
Tax records should usually be kept for at least three years. Need More Time to File: The fastest and easiest way to get the extra time is through the Free File link on IRS. In a matter of minutes, anyone, regardless of income, can use this free service to electronically request an automatic tax-filing extension on Form Also, you can request an extension by mailing in FormApplication for Automatic Extension of Time to File U.
Individual Income Tax Return, to the Internal Revenue Service. Form is available on the IRS Web site at irs. You may e-file an extension request using tax preparation software on your own computer or through a tax preparer. You will get an acknowledgment that the IRS has received your request. Members of the military and others serving in combat zone localities. Typically, taxpayers can wait until at least days after they leave the combat zone to file returns and pay any taxes due. For details, see Extensions of Deadlines in Publication 3Armed Forces Tax Guide.
More Time to Pay: In many cases, those struggling with unpaid taxes bad debt write off irs gov efile for one of several relief programs. Most people can read more up a payment agreement with the IRS on line in a matter of minutes.
Taxpayers can choose this option even if they have not yet received a bill or notice from the IRS. Alternatively, taxpayers can request a payment agreement by filing Form FS. This form can be downloaded from IRS. Taxpayers with a balance due: IRS now have several quick and easy ways to electronically pay what they owe. IRS Direct Pay is a free and secure way for you to make payments directly from your bank account.
If you file electronically you can elect an electronic funds withdrawal from your savings or checking account. Or, you may be able to do a same-day wire transfer from your financial institution.
And you can always send a check or money order with your return or when you get a bill. To help insure that the payment is credited promptly, also enclose a Form V payment voucher. A payment plan may be an option. You can request a short-term had plan up to days. There is no user fee for a short-payment plan. You can also request a longer term monthly payment agreement. Another option may be an Offer in Compromise. An Offer in Compromise is an agreement between you and the IRS to settle your tax debt for less than the full amount you owe. More information about your payment options is available at IRS.