The tax deadline is quickly approaching for every American holding a job and everyone required to file a tax return. Here are ten last minute tax tips for those yet to complete their returns:
File electronically through the IRS's e-file system. It is safe easy and saves time. After twenty years of secure service, the number of Form 1040 e-filed tax returns is getting close to one billion. For 2010 taxes, ninety nine million people used e-file to submit their tax forms to the IRS, that accounts for seventy percent of all taxpayers.
2. Check and Re-check ID Numbers
Carefully check all social security numbers and any other identification numbers carefully for any mistakes. This includes you and any other dependents listed and your spouse as well. Incorrect, illegible or missing numbers can reduce or delay your refund.
3. Check and Re-Check All Figures
If you are filing through a paper form, you should re-check all entered dollar figures and their sums to ensure no errors were made.
4. Check Tax Tables
If you file using a paper form or a Free Fillable Form, make sure you have used the appropriate figures from the tax table.
5. Check Signatures
Make sure you have signed and dated all the required spots for each form. If you file a joint return, both people must sign, even if only one contributed an income.
6. Mailing Your Return
If you are going to mail in your return, you can locate the correct address at www.irs.gov. Choose 'individuals' and look for the "where to file" link. It should be easy to find on the left side, under IRS Resources.
7. Mail Your Payment
Some individuals may find they owe Uncle Sam this year and should make their checks out to "United States Treasury". This should be put in an envelope along with the necessary forms. It is advised to list the social security number of the head of household on the check along with the type of form filed, a daytime phone number and the current tax year i.e. 2010 taxes.
8. Paying Electronically
Paying taxes electronically is safe, convenient and secure. You can pay using a debit card, credit card or authorizing a withdrawal from a bank account. If interested, see www.irs.gov for additional information.
9. File an Extension
April 15th is the deadline for filing a return, but you may be eligible for an extension. Just keep in mind an extension is strictly regarding filing a return, it does not allow more time for any existing monies owed.
10. Check out IRS.gov
If you need any more additional information, unsure what a specific form is asking or need a form or publication be sure and visit www.IRS.gov for a variety of tax resources.
Hope these last minute tax tips were helpful in reducing the amount of stress you experience as you complete your tax return for the 2010 tax season.