-File electronically. This gets tax returns to the IRS faster than by mail, and helps the IRS process it faster since IRS workers don't have to spend time transcribing the information on the return into its computer system.
-Elect direct deposit of your refund. By choosing on your tax return to have your refund sent electronically to your bank account, you further speed your refund-by saving the time involved in having the IRS process and mail a paper check, as well as the time the check spends in the mail traveling to you. You'll also avoid the risk that your refund check will be lost in the mail-which happens to about 100,000 taxpayers annually and the risk that a wrongdoer will steal your check.
-File as early as possible. To get your refund as soon as possible, file your 2007 tax return as early in 2008 as possible. This will probably be January 14, 2008.
• Not filing because you can't pay what you owe. The penalty for late paying is only 0.5% per month, but for late filing it's 5% per month. So, file on time no matter what, and pay later if you have to. • Attaching receipts or other papers to a return. At most,
write a short explanation on the return next to unusual items such as "heart surgery" next to very large medical expenses. • Delaying filing because information returns are missing.
If Forms W-2, 1099, or K-1's are late or missing, estimate the most income they will report and include it on the return. After getting missing forms you must file an amended return. • Form 1099 mismatches. If 1099 income doesn't match the
corresponding amount reported on a return, IRS computers will
catch the mismatch and send an audit notice. If you think a 1099 is erroneous, write the amount that is incorrect on the return with an adjustment showing the correct amount and a brief note of explanation. • Social Security number mistakes. When "married filing
separately," make sure that you include your spouse's Social Security number. The IRS wants to check for inconsistencies in both spouses' returns. • Omitting an employer identification number if you employ
child-care providers. • Schedule C expense misallocations. Costs of tax planning,
legal expenses, business publications, etc., are fully deductible
as business expenses by a proprietor on Schedule C.
Be able to justify your allocations. if you put 100% of them
on Schedule C, an auditor may question whether some weren't
really personal costs. • Basis miscalculations on capital gains. Calculate basis very
carefully.
: PREPARE AND FILE ON LINE YOUR INCOME TAX RETURN
- For a Few Dollars
WARNING: Filing your Own Taxes Could Result in
NASTY AUDITS! If you know how to prepare your Taxes Click above. When you need our help, just contact us!
: OUR LOCATION. Get Hundreds of dollars in a few minutes.
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: NEWS AND EVENTS
COMMON TAX SCAMS
Get ready for Tax Season!
Be sure that you DO have all of your tax information. IRS forbids EVERYONE
to file a tax return with the LAST PAY CHECK. If somebody tells you that they can file your taxes with the last paycheck. BEWARE, most like it, they are trying to rip you off.
