Before filing your tax return, make sure to
double check all the calculations and details, including your Social Security
Number and the Personal Tax Identification Number (PTIN) of your tax preparer
(if the return was prepared by a professional). You do not want the IRS to reject
it and ask you to file again. To avoid complications, spend a little time in
reviewing the information even if the return is prepared by a professional.
If you are looking to hire a tax preparer,
make sure that the preparer has a PTIN. Be careful of preparers that promise to
get you huge refunds without knowing your situation. They may include
inaccurate income figures and false deductions on your return to claim
exaggerated refunds. The IRS holds both the taxpayer and the tax preparer
responsible for fraudulent returns, and charges heavy penalties for the tax
fraud. Therefore, stay protected from unscrupulous tax preparers.
Filing returns electronically is better for
those who are computer-savvy. They may use the electronic filing system, Free
File, on the IRS website to file their taxes electronically for free. Using
this system, you can file your returns before the tax season opens and the
system will automatically file them when the IRS begins accepting tax returns.
Another advantage of electronic filing is that it is fast and more secure.
You can check the status of your
electronically filed return on Where’s My
Refund? This is an IRS resource that allows taxpayers to check the status
of their tax return and the approximate date on which they may receive the
refund. Wait for 24-hours after electronically filing your return and 4 weeks
after the paper filing of a return to check its status.
It is advisable to prepare your taxes on
time and not allow any delays in filing. Many taxpayers make mistakes in preparing
their taxes because they procrastinate and file their returns at the end of the
tax season.