Properly Finishing Up Last Minute Taxes

Kimberly Watson, Editor in Chief
March 23, 2012 /

As the deadline for the filing of tax returns approaches, many people are only now allowing thoughts of taxes and completing the filing of them to enter their minds. However, it could be described as putting off the inevitable and the problem with waiting until the last minute to file your return is that in the rush, it could mean that an important item is omitted.

Any miscalculations relating to your taxes have the habit of returning to become an irritation in your life, so take time to ensure all your information is correct. Should your filing prove to be unusually complex, or your time schedule does not allow for completion, then a tax accountant could be an option. Otherwise, gain more by filing for an extension, whereupon the IRS will automatically extend your deadline for filing to October 15.

Another alternative is to make use of available software that will permit you to file your extension request online. It would include the facility for an electronic payment of the estimated bill for taxes due. However, if your estimation of the final bill is not completed correctly, you could face penalties and interest charges.

While most primary software organizations have effective hardware, that has the capacity to allow vast numbers of people to file their taxes returns, it would not be wise to submit yours at the latest possible time, as it is always a possibility that a mishap will occur that is beyond your control.

You do have various options of filing your return for taxes; whether it is manually, in which case you can download forms from the IRS website, complete and the mail them, which is the slowest method.

The most preferred method however, is to file with an online tax program. It is easier and more convenient, with the advantage that an audit review is included, which is a benefit in helping you to avoid an IRS audit.

 

Share your opinion