Tax Return Filing Basics
Before beginning your tax return, here are a few things you
should know to make preparing and filing your return easier and
less stressful.
Social Security Numbers
It is important that you have the correct Social Security Number
and date of birth for each person you will claim as an exemption on
your return. If each name, Social Security Number, and date of
birth do not match exactly when you file the return, the IRS will
reject your return and ask you to submit the correct
information.
Recommended Records
Preparing your tax return will be easier if the records you need
are organized and readily available:
- Proof of identification
- Social Security Numbers for you, your spouse, and
dependents
- Birth dates for you, your spouse, and dependents
- Wages and earnings statements: Forms W-2, W-2G, 1099-R,
etc.
- Interest and dividends statements from banks, brokerages,
etc.
- A copy of last year's tax return
- Bank routing and account numbers
- The amount you paid for childcare and the childcare provider's
tax identification number
- Receipts for charitable donations
Preparing Your Return
You can choose to prepare your return yourself or get assistance
from a qualified tax professional. If you choose to prepare your
return yourself, consider using a tax software program to assist
you. Tax software can make the preparation easier, help you
understand all the credits and deductions you are qualified to
receive, and allow you to e-file your return. 1040.com Online Tax Preparation lets you
prepare and e-file your taxes, both federal and state.
Hiring a Professional
If you choose to hire a tax professional to prepare your tax
return, choose carefully. It is important to choose a qualified
professional, because you are ultimately responsible for the
accuracy of your return. Before signing your return, review it to
ensure that all information is correct, that you understand the
entries, and are comfortable with the accuracy of your return.
Never sign an unfinished return, and always ask your tax
professional to sign the return in your presence.
Free Tax Preparation Assistance
If you cannot afford a professional tax preparer or you need
help preparing your own return, you can visit an IRS Volunteer
Income Tax Assistance (VITA) site. Each VITA site has volunteers
who are trained to help you figure special credits, prepare basic
tax returns, and e-file your return. VITA sites are for taxpayers
making $50,000 or less per year. To locate a VITA site near you,
call (800) 906-9887.