April 15th Is Coming! Read These Last Minute Tax Tips

By Jeremy Suede on April 9th, 2010

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It’s April now and that means the tax deadline is looming on the 15th.  Here are some tips to help you sleep peacefully knowing you properly filed your tax returns.

• Tax laws and requirements change - Every year numerous tax laws are changed that can affect your return.  There may be new credits that you can use to get a higher refund or something new you may need to report.  Click here to see what the IRS’ Tax Changes for Individuals are.
• Collect all your information - Make sure that you input all of your proper information because the IRS will double check.  Collect all of your W-2’s, 1099’s, mortgage statements, investment statements, K-1’s, tuition statements, charity donations and any other statements you may have.  These are all necessary to properly file your return.
• Don’t pay for unneeded services – The IRS offers free e-filing services to those who qualify and you can easily file your 1040-EZ forms.  That is E-Z for a reason, it’s easy and free to file your federal return.  They also provide links to file your state returns electronically and cheaply.  Don’t pay someone to do your taxes if you don’t need to.  But if you have questions that the Internet can’t solve try and contact a tax professional because it’s better to be safe than sorry.  Click here to go to the IRS Freefile page.
• Proof of mailing – If you end up paper filing your returns make sure you send them Certified Mail so you can get a Return Receipt.  If something should happen during the mailing process and for whatever reason the IRS does not receive your return, the only way to avoid paying fees is to show your proof of mailing.  You will have to walk the envelopes into the post office, waiting in line and get the forms stamped but it will all be worth it if you do end up getting an IRS notice.  Click here to go to the USPS Certified Mailing page.
• Don’t stress out about April 15th!- This is just the initial deadline to file your tax return.  If you don’t have all your information or just don’t have time, you can easily file an extension (IRS Form 4868) and extend your filing time until October 15th.  This can be done in less than 10 min via the IRS Freefile page.