December 25th and April 15th are two of the most memorable dates on the American calendar. The first is the culmination of a joyful season of celebration, gift-giving, and general goodwill, and is eagerly anticipated. The second date – the day income tax returns must be filed – is a day of dread, stress, anger, and fear for many people. Preparation for Christmas often begins in early autumn, while many people wait until the last minute to complete and file tax returns.
Despite the fact that three out of every four filers receive a refund, nobody likes income tax time. However, there are ways to make the experience less hectic and easier to endure.
How to More Easily File Your Income Tax Form
Whether you file your own taxes or use a professional preparer, the key to a satisfactory, tension-free result is organization. Trying to make sense of a rat’s nest of paper receipts, canceled checks, brokerage statements, and other miscellaneous bits of information is frustrating and time-consuming. The confusion adds time for you, and unnecessary expense if you are using a professional tax preparer. It also increases the probability of mistakes in determining the correct tax liability. If you pay too little, you may be subject to a tax audit and additional penalties; paying too much effectively gives a donation to the government that could have been returned to you in a refund. Avoid such troubles by following these tips.