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You Still Have Time To File Your Taxes With Sun Loan

Tax Day is upon us. According to the IRS, last year only about two-thirds filed their taxes within two weeks of the deadline and one in five will wait until the final week. If you’re one of those last-minute filers who will be scrambling in the next few days to file your return before the deadline, professional tax preparation services can ensure you get it done quickly, accurately and on time.  

 

Last-minute filing

 

When are 2019 taxes due and when is the last day to file? The latest announcements on new deadlines and extended filing dates can be found on irs.gov but, now is the time to file unless you have circumstances preventing you from filing on time. For those of you who are waiting until the very last day to file, we advise two things: begin compiling all the documents you need now and plan on using a professional tax preparation service. Afterall, rushing through your tax return could cause you to overlook certain tax breaks or make other critical errors. Imagine losing out on a refund or filing incorrectly and getting penalized.

Tax preparers are trained professionals whose job it is to understand today’s tax laws and rules that roll around each year. Preparers will be familiar with all the tax credits you may be entitled to, so you get as much money back from your return as possible. Remember, tax preparers are experienced with even the most complicated forms and have software that ensures your return gets filed. Why risk filing on your own when one small glitch or an overlooked form could mean lots of wasted time or even worse, an incorrectly filed tax return when you’re just minutes away from the deadline?  

If you’ve already filed your taxes then, you’re probably relieved to be avoiding all the stress of last-minute filing. Now, all you have to do is put your feet up and wait on your return. But, if you’re a last-minute-filer, you still have some work to do.  

 

Using a tax preparation service

 

Ask friends and families for recommendations on who to use to file your taxes. You’ll want someone who is not only qualified but has a solid reputation. Today, most preparation services use technology such as e-file that not only simplifies the process but, reduces errors and makes getting your return quicker.  

The IRS website is also a great resource that provides a list of tips for choosing a tax service and how to check their credentials.  Trusting someone with your personal information is not easy so don’t be afraid to ask the preparer for their qualifications. 

 

Gather your W-2s and other documents

 

So, you’ve found the perfect tax preparer who came with a solid recommendation from someone you know, and you have all your paperwork in order. What’s next?  

Contact the preparer a day or two in advance to make an appointment and ask about their upfront fees as well as get a few questions out of the way. This is a good time to ask about the form they’ll use and request a list of documents you’ll need to bring with you.

Your tax preparer will know exactly which documents are required to be submitted along with your tax return. To help you bet started, we’ve created this list of the most common and important documents to have on-hand when you visit.

  • W-2 forms (or, if you were unemployed, you’ll need your state tax refund)
  • Personal identification: Social security number or tax ID number.
  • Spouse’s and all dependents’ identification: Social security number or tax ID number, and dates of birth.
  • Other forms, records and receipts: Including any tax forms you may have received in the mail such as those from child’s custody, retirement, self-employment and other income, alimony, dividends, Health Savings Account, receipts for long-term care, and educational expenses.

 

What happens when you file late or not at all?

 

There’s still time to file. Extensions can be filed in those circumstances when you cannot file by the deadline. There is paperwork required, however your professional tax preparer can help you with this as well.  The important thing is that you file your taxes! Your tax return is used for many reasons that you may not even be aware of like home or business loan applications. And, after it’s done you won’t have to worry about it for another year.

 

Sun Loan offers professional tax preparation services you can depend on throughout tax season even when you’re scrambling to meet the deadline. If you can’t file on time, rest reassured we have you covered and help you with filing an extension. Visit one of our offices to get started.