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| Credit Answers > Debt-Management-Articles-2010 > Tackle Tax Filing Stress |
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Early organization can help you avoid last-minute panic and costly mistakes when preparing your taxes for the April 15 deadline. Here are a few tips from the Internal Revenue
Service.
Get Your Records Together
Try to get started now by gathering all necessary forms for tax filing including statements, receipts, canceled checks or documents that support an item of income or a deduction you plan to take on your
return. Consider a safe place in your home to keep all of these documents together. Also, gather social security numbers you may need including numbers for both you and your spouse if you file jointly as
well as those of any dependents you claim.
Review Schedule M
You should have to file this new tax document if you received money from the 'Making Work Pay Credit' or the 'Government Retiree Credit.' If you received an extra $400 (individually) up to $800 (if you are
married filing jointly), you should check your records now to make sure you did not receive too much. You can review Schedule M on the IRS website at www.irs.gov
and roughly calculate whether you could lose some of that credit when you file a tax return.
Obtain All Necessary Forms From Your Employer
If you worked for more than one employer last year, be sure you collect all W-2 and 1099 forms from each.
Consider How You Want To File
You may get your return faster if you e-file your taxes electronically. According to www.irs.gov, two out of three taxpayers used e-file last year. E-filing software calculates your taxes for you, which
may be a bonus for those who are apprehensive about the math calculations required on tax forms. If your income is $57,000 or less, visit the IRS website to see if you are eligible for free tax preparation
software and free electronic filing. You may opt to fill out the forms yourself or go to a professional tax preparer. Whichever way you choose, consider the direct deposit option on your form. Refunds
are typically received faster if directly deposited to your bank account.
Collect All Necessary IRS Forms
If you are not e-filing, you may want to obtain extra backup forms by visiting your local post office or library. In addition, many forms can be downloaded at the IRS Forms and Publications web page
at www.irs.gov/formspubs/index.html.
The IRS Is Here To Help
Visit www.irs.gov for tax return tips, forms, answers to frequently asked questions and updates on tax law changes. Call IRS customer service at
1-800-829-1040.
Remember!
Your debts could be settled faster if you put as much of your tax refund as possible into a debt settlement negotiation reserve account.
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