The most common error is one forgetting to sign and date his return. Many people are in a rush and also make many unnecessary mathematical errors or transpose their social security number.
Do I have to attach all of my W2s and 1099 documents to the return?
The documents you need to attach to your tax return are only those that
show proof that Federal Income Taxes were withheld. Many freelance individuals
think their 1099-Miscellaneous documents must be attached to the return--
but they do not. Many retirees have Federal withholding taken out on their
social security payments, so that year-end statement must be
attached to the return.
What do I do if I find mistakes in these documents?
You must review all documents for possible errors. There are
frequent mistakes in W2s and 1099 Interest, Dividend, and Miscellaneous Statements.
Contact the companies that issue the information and request
corrected documents. Do this as soon as possible. Many people wait
until the last minute and can't get their information because the companies
are too busy processing other requests.
Should I file my return electronically?
More than 70 million taxpayers filed their returns electronically
and the trend is ever increasing. This opportunity is easy, fast
and the most accurate way to file a tax return. However, some tax programs
are miscalculating the tax that is due. Be sure to double check the figures
with a tax booklet or visit the IRS website at www.irs.gov for complete information.
Don't wait until the last minute to file as others are doing the same thing! The
computer systems get overloaded and you don't want to risk having a late-filed return.
Can I pay my taxes electronically?
Electronic payment options are convenient, safe and secure methods for
paying taxes. Taxpayers can authorize an electronic funds withdrawal or
use a credit card for the payment of taxes.
How long does it take for me to receive my refund?
If you are getting a refund, I suggest you consider direct deposit.
You need to provide your bank's ABA # (routing number) and
correct account numbers. Incorrect numbers will cause the
refund to be misdirected. If you file a joint return and get a direct deposit
refund, it must be wired to a joint checking account. The process will
take approximately 3-5 weeks or it could take 8-12 weeks for a physical check
to be returned to you.
What if I don't have time to finish my tax return by April 17th?
You can request an extension of time to file on Form 4868. The extension
does not give you extra time to pay your taxes. You will owe interest
on any money not paid by the April deadline, plus a late payment penalty.
For more information, contact the IRS by calling 800-829-1040 or visit their website at www.irs.gov.
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