04 Apr Be Ready For Tax Day
April has arrived and the advent of Spring means different things depending on your situation. For those who have their taxes done for them, they can focus on the nicer weather and getting outdoors for some fresh air. For others who do their own taxes, the next two weeks can be stressful and even overwhelming. With the many tax law revisions that take place every year, the challenge to do your own taxes includes researching all the changes to make sure you don’t miss anything. With some stimulus payments being missed by those who filed paper returns that haven’t been processed yet, the situation becomes even more challenging. Be ready for tax day by reviewing the instructions to all forms so you get back everything you are owed.
Many people still have to file paper tax returns for various reasons. The recent delays in processing paper returns have resulted in taxpayers missing stimulus payments because their income and other information wasn’t available for the year in question. Make sure to check that all stimulus, child tax credit and other recovery payments have been received and keep track of statements sent to you regarding them. Read all tax law changes and if you have questions, seek advice from a tax professional. Make sure to file on time and don’t stress too much. If you somehow make a mistake, it can always be corrected. When you’re done, have a celebration! You deserve it.