Avoid Headaches: Prepare Taxes Early

Earlier is better when it comes to working on your taxes. The IRS encourages everyone to get a head start on tax preparation. Not only do you avoid the last-minute rush, early filers also get a faster refund.

There are seven easy ways to get a good jump on your taxes long before the April 15 deadline rolls around:

  1. Gather your records in advance. Make sure you have all the records you need, including W-2s and 1099s. Don't forget to save a copy for your files.

  2. Get the right forms. They're available around the clock on the IRS Web site, www.irs.gov, in the "Forms & Pubs" section.

  3. Take your time. Don't forget to leave room for a coffee break when filling out your tax return. Rushing can mean making a mistake - and that can be expensive!

  4. Double-check your math and Social Security number. These are among the most common errors on tax returns. Taking care on these reduces your chances of hearing from the IRS.

  5. Get the fastest refund. When you file early, you get your refund faster. Using e-filing with direct deposit might get you a refund in as little as 10 to 15 days.

  6. E-filing is easy. E-filing catches math problems, provides confirmation your return has been received and gives you a faster refund.

  7. Don't panic. If you have a problem or a question, please contact us and we can help you work through any issues.


This daily Tax Tip has been provided by the Internal Revenue Service.

You may like these other stories...

For many individuals, a key part of their investment and estate planning is to write yearend checks for gifts to family members. The following reminders will help put your tax planning in perspective for 2014 and beyond, and...
Judge dismisses AICPA lawsuit against the IRSMichael Cohn of Accounting Today reported on Tuesday that a federal judge has dismissed a lawsuit against the IRS by the American Institute of CPAs (AICPA) over its new program...
Hungary waters down planned tax on Internet useMargit Feher of the Wall Street Journal reported that Hungary’s government said on Monday it will soften its stance on a proposed tax on Internet access after tens of...

Already a member? log in here.

Upcoming CPE Webinars

Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.
Nov 18In this session Excel expert David Ringstrom, CPA tackles what to do when bad things happen to good spreadsheets.
Nov 19How do you minimize redundant work and unnecessary steps to maximize the amount of work moving through your firm?