5 Ways to Make Tax Filing Easier This Year

It’s all too easy to procrastinate filing taxes, as the process can feel overwhelming and daunting – especially without guidance. The good news is, it doesn’t have to be a stressor! We’ve compiled our top five tips for making tax filing easier this year (and every year). Read on to learn more!

1. Gather Records. One of the biggest mistakes we can make when filing taxes is failing to assemble all necessary documentation before beginning. The specific documents you’ll need will vary depending on your employment type, health insurance, and other factors; however, you will always need a Form W-2 and/or Form 1099. These forms detail your income and tax withholdings for the previous year. If applicable, you’ll also need copies of any investment income statements and records of deductible expenses, such as charitable contributions or mortgage interest. Finally, you’ll need a copy of your state-issued identification (such as a driver’s license), along with your social security number, for verification. If you want to receive your tax refund via direct deposit, be sure to have your bank account and routing numbers on hand. As you begin receiving documents in the mail and/or gathering on-hand items, store them together in a folder until you’ve got everything you need.
2. File Electronically. Electronic filing is your best chance at an error-free tax return, as the software automatically performs calculations, flags common errors, and prompts users for missing information.
3. Choose Direct Deposit. According to the Treasury’s Bureau of Fiscal Service, physical refund checks are sixteen (16) times more likely to encounter issues such as being lost, stolen, misdirected, or uncashed. Direct deposit isn’t just more secure, it’s also faster! Plus, you can choose to have your refund deposited in up to three (3) different accounts.
4. Use Online Tools. An array of online tools exist to make your tax filing process easier. IRS.gov has many, including the Interactive Tax Assistant, which answers your questions in real time, providing the same responses you’d receive from a live representative.
5. Review Before Filing. While you might be chomping at the bit by the time you reach the end of the tax filing process, it’s crucial that you first review every detail of your return before submitting it. One typo in a social security number can lead to lengthy delays and headaches – so, take the extra time to verify that all of your information is correct. You’ll thank yourself later! 

For more information and tips on filing taxes this season, visit IRS.gov.