| Tips and tricks to filing the "old fashioned" way | | | | they didn't get it to you doesn't mean the company isn't |
| We are, by all accounts, becoming an almost | | | | reporting that income to the IRS. If they report it and |
| paperless society. Email is replacing much written | | | | you don't, you very well may end up getting audited. |
| correspondence; bills are often sent and paid | | | | Choose the Easiest Form |
| electronically; even our taxes are filed online. Even so, | | | | When filing your federal return you have three forms |
| we are still inundated with invoices, receipts, and | | | | to choose from: 1040-EZ, 1040A and 1040. Pick the |
| statements which all need to be organized for filing | | | | form that fits your type of income best. It will be |
| those taxes. Whether you choose to file | | | | easier for you to fill out and quicker for the IRS to |
| electronically or with the old pen and paper method, | | | | process. |
| there are some tips to making the process go more | | | | If you have income from wages or interest only that's |
| smoothly. | | | | less than $100,000, no dependents, don't own a home |
| Keep a Tax File | | | | and didn't attend school you can use form 1040-EZ. |
| A tax file doesn't need to be big and fancy. It doesn't | | | | You may not itemize deductions on the EZ form, but |
| even need to be a traditional file cabinet. An | | | | can take the Earned Income Credit and the Making |
| accordion-style file folder performs nicely for keeping | | | | Work Pay Credit. |
| receipts and statements organized for tax time. | | | | The 1040A may be a good choice for you if your |
| Mark the tabs with different categories you need to | | | | income and deductions is a little more complicated. |
| track, like medical/dental expenses, donations and | | | | The 1040A is less complicated than the 1040 and |
| contributions, local and property taxes, etc. Having | | | | allows you to take more deductions than the |
| everything you need in one place will significantly | | | | 1040EZ. The 1040A also covers more types of |
| reduce your stress level and the time it takes to | | | | incomes and is only two pages long. You still may |
| complete your tax return. | | | | only take the standard deduction, though, so if you plan |
| Keep an Eye on the Clock | | | | to itemize you must file form 1040. |
| We all know the deadline for filing federal taxes is April | | | | The easiest way to file your taxes, even a paper |
| 15th each year. But do you know when you should | | | | return, is to use an online provider. The site will ask |
| have all your W-2s and 1099s? Companies are | | | | you pertinent questions, fill in the appropriate forms for |
| required to mail out these essential documents to you | | | | you and choose the correct type of 1040 to file. You |
| no later than January 31st of each year. So, if the | | | | can then choose if you want to file electronically or |
| first week of February has come and gone and you | | | | print, sign and mail the old fashioned way. Just |
| haven't received a document you were expecting, get | | | | remember, the more organized you are before you |
| on the phone and find out where it is. Just because | | | | start your tax return the quicker you'll be finished. |