With tax season upon us, how can I avoid problems?

With the new year upon us, it is time once again to gear up for tax season. Beginning in January, the IRS will be accepting electronically filed and paper filed tax returns. The first date for processing of these returns is January 19, 2016. It is crucial for taxpayers to make every effort to avoid potential issues relating to the filing of their tax returns.

4 Tips to Avoid Problems With the IRS This Tax Season

What can you do to stay out of trouble this tax season? The following are four helpful tips:

  1. Pay close attention to important dates. Electronic returns can be filed beginning on January 19, 2016. Further, the deadline for filing a return is Monday, April 18, 2016. While the usual tax deadline falls on April 15, this year the 15 occurs on Emancipation Day, a recognized holiday in Washington D.C. Because of this, the tax filing deadline has been extended. Similarly, if you are submitting a return in Maine or Massachusetts, the deadline is actually Tuesday, April 19 because April 18 is Patriots’ Day.
  2. Collect all of your year-end statements. Make sure you have all statements on hand before you file your return. Examples of year-end statements to have readily available include Forms W-2 from your employers, Forms 1099 from banks and other parties, and Form 1095-A for those who are claiming the premium tax credit.
  3. File your return electronically. An electronic return and the choice to have your return directly deposited into your bank account is the fastest and safest way to file your return and obtain your refund. If your return is filed properly and electronically, you may receive your return in less than three weeks
  4. If you have any questions relating to your return, seek assistance. This help can come from your tax preparer, attorney, or through your own research. A good resource that may be available to answer your questions is to visit http://www.irs.gov/.

By following these tips, hopefully your likelihood of facing issues dealing with the IRS will be diminished.

When dealing with the IRS over a potential tax problem, it is crucial to obtain assistance from a legal professional who can protect your legal rights. We encourage you to check out our client testimonials today for more information.