5 Tax Tips For Early Preparation

When it comes to working on your taxes, it’s always a good idea to get started early. In fact, the Internal Revenue Service recommends a solid head start – you’ll be ahead of the end of tax season rush and see your refund sooner.

Here are five simple and effective ways to get an early start on your taxes well before April 15 appears on your calendar:

Collect Records – Including forms like your W-2s and 1099s. Remember to make copies and save them in your records.

Correct Forms – All the tax forms you’ll need can be obtained anytime at IRS.gov in their Forms and Publications section.

Do Not Rush – Try not to rush while filling out your paperwork – mistakes can result in more time and avoidable expenses.

Verify – Verify that your calculations and other information like your Social Security number are correct. Caution while doing your taxes the first time through makes it less likely that you’ll hear back from the IRS.

Fast Refund – Get the fastest refund. By filing early, you’ll probably see that refund sooner. Filing electronically with direct deposit usually results in a refund faster than paper filing.