Income Tax Planning
The income tax filing season has begun and you can make tax time easier on yourself with an early start.
1. Gather your records Round up any documents you’ll need when filing your taxes: receipts, canceled checks and other documents that support income or deductions you’re claiming on your return.
2. Be on the lookout W-2s and 1099s will be coming soon; you’ll need these to file your tax return.
3. Have a question? Use the Interactive Tax Assistant available on the IRS website to find answers to your tax questions about credits, deductions, general filing questions and more.
4. IRS e-file . Many tax preparers are now required to use e-file. The IRS issues refunds to 98 percent of electronic filers by direct deposit within 10 - 14 days, if there are no problems. If you owe taxes, you have payment options to file immediately and pay by the tax deadline.
5. Consider direct deposit If you elect to have your refund directly deposited into your bank account, you’ll receive it faster than a paper check in the mail.
6. Visit the official IRS website often The IRS website at www.irs.gov is a great place to find everything you need to file your tax return: forms, publications, tips, answers to frequently asked questions and updates on tax law changes.
7. Review! Review! Review! Don’t rush. Mistakes slow down the processing of your return. Be sure to double check all the Social Security numbers and math calculations on your return as these are the most common errors. Don’t panic! If you run into a problem, remember the IRS is available to help. Start with www.irs.gov. 
