What does getting an email from the IRS and getting an email from your crazy ex-girlfriend have in common? They are both something that you don’t want to open. The best advice is, don’t. If you get one of the IRS emails, it is best to not open it, or even altogether ignore it. We all know that the IRS is anything but a friend of yours, so why would they be sending you an email? They probably wouldn’t. It is just one of the latest scams that impostors are trying to pull off.
Scammers know that when you see the IRS come up on any document, your first reaction is fear, and the second is that you had better answer it quickly to avoid penalty. When you use Turbo Tax 2013, you will have direct access to the IRS email, but they will never have a reason to reply unless it is an auto response. As a general rule, if you ever receive an email from any company asking you for personal information, don’t answer it. Any doubts you have about its authenticity, which there should be many, can be addressed by contacting them directly. If you are the one to contact them using official channels, than you can feel secure about any information that you supply to them.
It is best, if you receive IRS emails, to pick up the phone and contact them directly. After all, nothing ever gets settled through email, you will have to follow up any issue with a live representative anyway. So, it’s best to do with that email what you would with your ex-girlfriend’s, ignore it.
Each year, thousands of taxpayers fail to file their federal income taxes. Some individuals willingly forgo this action while others run into special circumstances. No event or situation frees a taxpayer from their responsibilities though. With that in mind, a person can always file back taxes in order to start catching up. Various options are currently available for taxes 2011.
Filing tax returns for previous years often proves relatively simple. However, an individual needs the right software and extensive records for that particular year. Products like TurboTax, TaxAct, and others offer software for past returns. Free tax filing 2011 is hard to come by but is not impossible to find. Undoubtedly, taxpayers want to save as much money as possible.
For taxes 2011, the taxpayer needs to fill out all necessary tax return forms. They should treat this return just like any other one, making sure to avoid common mistakes. Failure to do so might cause problems when the IRS receives the return. Without a doubt, it is important to handle this matter quickly to avoid major consequences and problems.
Free tax filing 2011 is still available even though it is a past tax year. Many people fail to realize that they can still finish taxes 2011. The longer an individual waits, the more penalties they will face. In the end, finishing this task quickly produces the best results under all circumstances. That fact should not be forgotten for obvious reasons. The IRS takes federal income taxes very seriously after all.
At the beginning of every year literally millions of people across the country are rushing to get their tax returns. A lot of people choose to file on paper which can be plagued by the usual delays of using the mail. If you would like to get your return more promptly then the best option is probably to e-file.
Doing taxes used to be a mess of paperwork for most people. Many people used to use expensive preparation services to help them deal with this chore. Now there is no need to go through endless papers or to take your taxes to someone else. Millions of people now choose to file electronically and you could say that this has become the norm.
E-filing has advantages. First of all there is software designed to help make it much easier than in the past. You can make sure you do not miss out on any deductions as well as maximize your refund with this help. No more getting confused sorting through reams of papers looking for obscure instructions. Another nice advantage of filing electronically is that your refund will be processed right away and can be direct deposited to your account within days of filing in some cases.
So if you are looking for the best ways to take care of your tax returns, perhaps you should look at the many ways to e-file. You will save time and money as well as receiving any money owed you quicker than through the mail.
I have spent the entire Saturday analyzing my tax returns, both Federal and State, first I did a Joint return with the Federal we came out even that is we do not owe the tax man and he owes us very little, not even enough for a very good bottle of wine. However with the sate that was different we owe almost five hundred dollars, so I decided to evaluate the option of Married Filing Separate, at the back of my mind I know that in the Federal Tax return this is the most expensive option, but there could be savings on the State return.
I allocated all the income between my wife and I, that is whatever income is attached to her social security number belongs to her, then I analyzed the Schedule A deductions, this gets a little tricky, like the mortgage interest expense and Real Estate Taxes is attached to my social security number therefore I had to split those between us. Expenses such as medical, dental, eye glasses we have our separate bills for the year and as faith would have it all the medications are mine. I had to pay special attention to the medical expenses because we are residents of Ohio and there is a credit for medical expenses on Ohio Tax Line 47. Please note there are many good Tax Return software on the market which could have done this automatically, if I had use one like TurboTax it would have taken me a lot less time, but it snowed today and I am confined to the basement of our home.
After refiguring both federal and State, the result shows it would be a very bad idea to file Married Separate for the Federal return, however on the State return was completely different, we both ended up with small refunds instead of a liability of almost five hundred. On our combine return filing joint we had an effective Tax Rate of almost 5% while on the Married Filing Separate return my effective tax rate is 4.5% and hers 3.5% although collectively we have a total higher rate on the Separate returns we did not owe any State Tax as in the Joint Return which has a lower rate.
I was very amazed and I checked it several times, then I logged on to the State of Ohio Tax Web page and entered the information for two separate returns and Walla I was right all that work pays off sometimes it is better to File Married Filing Separate for the State return. Although I am not a Tax Expert I found the process was not that difficult our return was a simple clear cut return with just my wife and I, can I claim the dog?, OH the dog belongs to my youngest child Dang remember a pet is not a dependent.
So, tax season is here. Yipee! No, really, tax season is here – bring on the headaches. It’s probably safe to say that no one actually enjoys filing taxes. Even if you are expecting a considerable refund, it can be a real chore gathering all of the necessary paperwork and wracking your brain to document any and every deductible item you can think of. Fortunately, there are ways to make the process go a little more smoothly, and to ensure you get the most favorable results possible. Here are five tips for preparing to file your 2011 tax returns:
Scheduling time. Filing your tax returns is not a task to take lightly. It requires your undivided attention. Don’t attempt to prepare your taxes over dinner, while watching television, or in the office break room. Instead, pencil in a specific time to work on your taxes at home, when you know the house will be quiet and you can get your mind in full-on tax mode. That’s the only way to avoid unnecessary mistakes that could end up costing you a lot of money.
Recordkeeping. The best time to begin preparing to file your 2011 tax returns is in January of 2011. Ok, it’s obviously too late for that, but keep this in mind for 2012. Make it a point to get into good recordkeeping habits, so that you have complete, accurate, and thorough records when it comes time to actually sit down and file your returns.
Organization. Create a filing system specifically for your tax return records. What should go in your filing system? Receipts for all of your write-offs, paperwork from income sources (W-2s or 1099s), investment account statements, social security statements, interest-earned bank statements, college financial aid statements, and/or anything else that you may need a record of when it comes time to shell out the backup.
Learn the codes. You don’t have to have a thorough knowledge of every tax code out there, but make it a point to bone-up on the latest tax codes that may affect your tax return status. If you are not all that tax-savvy, there are some simple, easy to understand tax code narratives on websites designed for people just like you.
Choose filing method. How complicated are your taxes? Are you comfortable doing them yourself? If so, there are some really great programs that you can use to do your own tax work. However, if you find that you aren’t sure about your tax preparation acumen, it’s best to hire a professional. Decide now how you want to handle this issue so you can start shopping around for the best software, tax preparation office, or accountant for you.
You don’t have to like filing your taxes, but you still have to file them. Ease some of your tax season frustrations by thinking ahead and following these simple tips.
About the Author: Carrol Petruska, NAC, NHA, CHA currently works in business administration and helps phlebotomy schools prepare for tax filing season. She started her career as a phlebotomist and then moved into the administrative side of the healthcare field. Visit http://www.associationphlebotomytraining.com/ for more information about phlebotomy associations and schools.
The deadline for turning in your 2011 taxes is quickly approaching. Millions of Americans need to get their paperwork in order and file by April 15. Are you ready? Lots of people choose to do their taxes themselves, but others spend the money to hire a professional. While some people think that hiring someone to do their taxes is a costly, unnecessary expense, others wouldn’t trust such an important task to anyone but a professional. Hiring a tax professional is an excellent idea. No matter how simple your taxes are or how much you think you know, you need to hire someone to prepare your taxes. Here’s why.
You’ll Get the Best Result
Tax professionals such as accountants and agents are experts at what they do. They have years of training, education and experience, and they know the tax codes inside and out. You need that knowledge to get the best result for your return. Tax professionals will help you to get the maximum refund that you qualify for. They’ll help you identify deductions that you qualify that you may have otherwise been unaware of. When they take a look at your finances, they do so as an unbiased third party. They’ll be able to see opportunities to reduce your tax liability that you might overlook on your own. When it comes down to it, if you have your taxes prepared by a professional, you’re much more likely to get the highest refund possible for you.
You Don’t Have the Time
Preparing your taxes is a very time consuming task. If you have very complicated taxes, you can’t just sit down and get them done in a few hours. With work and family, you may not have the time to devote as much attention as necessary to your taxes. If you don’t have adequate time to spend, you won’t get them done right. You might make careless errors because you’re rushed. If you hire a professional, they’ll spend a lot more time with your finances because it’s their job to do it.
You Could Make a Mistake
If you do your own taxes, you could easily make a mistake that a professional wouldn’t. You might not thoroughly check your work and make a mathematical error, or you might have an incorrect understanding of something and not realize it. If you make a mistake on your taxes, it can cost you. It will take you a lot longer to receive your refund, and you could even be audited or accused of fraud. You need to hire a tax professional to protect you from yourself. In most cases, you’ll sign a contract with a tax professional in which they agree to represent you and stand by their work if the government decides to question you. This kind of reassurance is great to have.
The Bottom Line
The bottom line is that taxes are complicated, and they’re something you need to take seriously. For those reasons, it’s best to hire someone to help you. As long as the person you hire is educated, reliable, and has references that check out, you’ll be much better off, and you’ll have one less thing to worry about this Spring.
Lisa Haan has weighed the pros and cons and will be hiring a professional tax preparer this year. This will free up time for her to share more great money saving tips with help from the world’s best grammar checker.