There Are No Tax Fairies!

BOSTON (CBS) – There no tax fairies to help you with your taxes! No magic wands.

There Are No Tax Fairies!

Mentally prepare yourself for working on your taxes. Set aside some time for the task. And even if you have someone else do your taxes for you, you will need to organize your stuff.

Bottom line: you are responsible for getting them to the IRS on time.

Some suggestions:

  • Gather up all of your paperwork. Make sure you have everything you need, including W-2s and 1099s. Your receipts, cancelled checks and anything you need to prove a deduction.
  • E-filing is easy. E-filing catches math mistakes, provides confirmation your return has been received and gives you a faster refund. The IRS wants you to file your taxes on line. They even offer free filing on their website for taxpayers with incomes under $58,000, but you must go thru their website to be eligible for the free filing.
  • Long hand:  The IRS does send out forms. Your local post office and library may have the forms you will need. The IRS is encouraging e-filing. The forms are also available from the IRS in their Forms and Publications section. If you don’t want to print them out you can order them online or call 800-829-3676.
  • Take your time. Break the job down into easy steps if you find it intimidating. Rushing can mean a mistake — and that can be expensive! Each of the forms will give you a rough estimate on how long it will take you to fill out that form.
  • Double-check your math and Social Security number. The most common mistakes on tax returns are incorrect Social Security numbers, poor addition or subtraction and forgetting to sign your return.
  • Don’t panic. If you have a problem or a question contact the IRS. Give their website a try or call their customer service at 800-829-1040. Their website is easy, its www.irs.gov

…………………

You can hear Dee Lee’s expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m., 3:55 p.m., and 7:55 p.m.

Subscribe to Dee’s Money Matters newsletter here.

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