If you have not filed your taxes yet, you probably are not alone. Many people wait until the last possible minute, as tax season can be a fantastic headache to get through. However, with the deadline fast approaching, you will need to take some steps to get your taxes finished. April 15 will be here before you know it, meaning it is time to buckle down and get organized in order to get your taxes finished by the deadline. Use these quick steps to make sure you file on time and are not penalized for not turning in anything.
Before you sit down to file anything, make sure you have all of the paperwork and fact sheets you need to complete your taxes. You should have all of your W-2 and 1099 information handy and together so you don’t leave out any part of the filing. If you have not received the proper paperwork for some reason, call the company you are missing, and if no result is found, call the IRS, as they will be able to help you through the process.
Check if you Qualify for Free Help
If your income is below a certain threshold, you may qualify to have your taxes done for free. IRS-certified volunteers are around to help with basic tax return preparation for those who need the help and don’t make more than the cutoff. The annual income requirement does change sometimes, so make sure you fall into the correct category and see if you can receive assistance.
Do not Panic
If you rush through the process, there is a much greater chance of mistakes being made. Take the process step by step, and take your time. This is not a race and you still have plenty of time to get through everything. If you need help, get help. There are plenty of companies around that will handle your taxes for you, and there are even computer programs that will walk you through the process step by step so you do not forget anything.
If you have to pay, you want to send in something, even if you can’t afford the payments yet. The fees for not sending in anything are much higher than the fees for not paying, so you will want to file something to get started, then work directly with the IRS to set a payment plan or some other solution. No matter what, do not ignore the deadline and turn some sort of documentation in.