As the deadline to file your income taxes draw nearer, you may be feeling a little rushed. But that rush could lead to some costly mistakes on your refund; experts are encouraging you – and every other late filer – to resist the urge to rush and ensure you do not forget the important details.
Know and Beware of Common Mistakes
Whether filing your taxes or filing for an extension, it is important to know and beware of common mistakes. Experts say that most common are experienced are those filing manually, especially those that are filing their extensions manually. This is because, even though the extension itself is automatic, there is still a manual form on which you must estimate how much you might owe. As such, tax experts suggest everyone seek assistance from a professional, especially if they are filing an extension.
Claim Everything You Can
It seems that, every year, the tax rules change slightly. In some ways, this can actually work to your benefit; from credits for energy efficient improvements and cars to American Opportunity Credits and child tax credits, odds are, there are credits you can claim. Take your time and, if you have any questions, talk to an expert.
Cover Your Business
Those that run a business – particularly those that are new owners – often have some of the most complex tax returns. They need receipts for all deductions that provide the date, location, and purpose of the purchase. You also need to provide detailed information on your earnings – ledgers, deposit receipts, or any other relative bookkeeping documents. This is, of course, just the beginning, but a tax professional can help you stay on track.
Get Help with Any IRS Debt
While you are being offered a later date to file this year, it is important that you address any IRS debts as soon as possible; delaying matters will only make things worse. Wage garnishments, bank levies, and property liens do not have to be a part of your life. Instead, you can seek experienced legal counsel to help you reach a favorable outcome.
The Law Offices of Eric Zelazny have been helping individuals in the Cook County area with their IRS tax issues since 1996. Dedicated and experienced, Attorney Eric Zelazny will handle your case personally. And, as both a CPA and skilled Tinley Park IRS tax attorney, he can help you craft and negotiate a debt settlement option that will work for you. Schedule a free initial consultation to find out more. Call 708-888-2299 today.