Tax forms are due in four days and some of us haven’t even started yet.
And there are a lot more questions this year than there were a few years before because of the rise in unemployment benefits. the stimulus tests; the tax credits for children.
Raphael Tulino of the IRS told KNPR’s Nevada state that despite these challenges, filing an accurate tax return is more important than ever this year.
“In the COVID environment, the IRS is pretty thin,” said Tulino. “If you think about the last 15 months or so … we’ve had four tremendous laws to interpret and guide to two tax return periods, which ourselves are pretty busy interacting with taxpayers, and then we had three rounds of economic payments Effects. “
Tulino said submitting an inaccurate return will only delay your refund process many times over.
Some people don’t want to file a return for a number of reasons, but certified public account Todd Cox said it was important that the majority of people file a return.
“When you file your tax return, you have something basic,” said Cox about extreme circumstances on how to prove you filed it fraudulently or something. “
Cox said if you file your tax return on time and in good faith after three years, it will be closed.
Tulino also pointed out that if you are to get money back from the government, failing to file a return will only give your money to the government.
For those who have money and can’t pay it, Tulino said it was important to speak to the IRS about repayment, even if the debt is years old.
“The IRS wants to help you get back on track, not get in your way,” he said. “We will not send the traveling car after you.” We’d like to get in touch and see what we can do to help you manage your taxes in the best possible way. “
Both Cox and Tulino agree that complex or complicated tax returns, e.g. B. Bankruptcies, foreclosures, rentals, winnings or a small business, it is best to seek help from a tax advisor to ensure that you are filing these correctly.
IRS Economic Impact Payment Line at 800-919-9835
American Bailout Plan – Tax Review
irs.gov – Coronavirus tax breaks and payments for economic impact
Nevada Free Taxes Coalition
TOP TEN TIPS FROM THE IRS:
Gather Your Records: Round up all of the documents you need to file your taxes, including receipts, canceled checks, and other documents supporting any income or deductions that you are claiming on your tax return. Keep them in a safe place.
Report All Your Income: You will need all of your W-2 Forms, Payroll and Tax Returns, and 1099 Income Statements to report your income when you file your tax return. To make sure you don’t misplace them, add them to your other records.
Get answers to questions: Use the Interactive Tax Assistant tool available on the IRS website to find answers to your questions about tax credits and tax deductions.
Use Free File: There is at least one option that anyone can use to create and email a tax return for free. Let IRS Free File do the work for you with trademark tax software or online fillable forms. It is available exclusively from IRS.gov. If your income was $ 57,000 or less, you can use free tax software. If your income was higher, or if you can easily prepare your own tax return, Free File Fillable Forms is the electronic version of IRS paper forms. Visit IRS.gov/freefile to review your options.
Try the IRS-E file: The IRS-E file is the best way to file an accurate tax return. It’s safe, easy, and the way most taxpayers file their tax returns. Last year, more than 80 percent of taxpayers used the IRS e-file. Many accountants now have to use the e-file. If you owe taxes, you have the option to file early and pay by July 15.
Weighing up your filing options: You have several options for filing your tax return. You can prepare it yourself or go to a tax advisor. You may be eligible for free personal help on a volunteer site. Weigh your options and choose the one that works best for you.
Use direct deposit: Combining e-file with direct deposit is the fastest and safest way to get your refund.
Visit the IRS Website: The IRS website at IRS.gov has everything you need to know about filing your tax return. This includes many online tools, filing tips, answers to frequently asked questions, the latest tax law changes, forms and publications.
Remember number 17: read publication 17, Your Federal Income Tax, on the IRS website. It is a complete tax resource that includes information such as: For example, whether you need to submit a file or how to choose your login status.
Check your return: don’t rush. We all make mistakes when we hurry. Errors slow down the processing of your return. When you return, be sure to double-check all Social Security numbers and math calculations as these are the most common mistakes. If you run into a problem, remember that the IRS is here to help. Start with IRS.gov.