If you have not quite finished your tax return 18 April filing a tax extension was a smart move.
It is easy to mail Form 4868, Application for Automatic Extension of Time to File, the IRS and still get six months to put it all together.
This is too easy, really. And the extension time is longer than most of us need.
The new deadline of October 15 seems so far away. Spring is here, and summer came. Who wants to worry about that now? But - be careful! October will be here before you know it.
Here are some tips to help you keep your tax return on the right track.
do as much as you can on your back
If you have not already, prepare as much of your back as you can now.
If you are waiting for information from someone else, make an estimate.
Mark amounts estimated as such on your return, you will be sure to come back later.
Keep track of your tax notes
When preparing your return, you must keep a laptop or list on your computer tax items that you need yet (use checklist income tax return), the questions you have, and how you arrived at the amounts and other information you enter on your return.
as you find the information you need, you can check the list.
Be sure to note how you arrived at such things as the size of your office, how many days you spent a vacation rental, you are the owner or the amount you spent support of a parent who does not live with you.
Keep these notes with your tax return.
If the IRS ever questioned anything on your return, your notes can help you explain where you got your information.
organized Keep your tax documents
Before filing your tax documents, take some time to arrange them so that they are easy to find.
take notes on credit card statements, receipts, and so on if necessary.
Check boxes on tax documents to indicate the information you've already entered on your tax return.
A little attention will now save you from everything from the beginning when you return to work on your return.
Finish as soon as possible
you enjoy the summer holidays more if you know that you have already filed your tax return.
This is especially true if you are worried about it, or if you are not really sure if you need more tax when you file effectively.
when you have completed your return, do not forget to enter all payments made when depositing April 18 extension.
do not keep fit on your back forever, hoping to find more deductions. Is this the best you can, and then file.
If you find something important after you file, you can always file an amended tax return.
it will not be easy to remember deductions and other information as time passes.
now that the April 18 crush is over, you might as well complete your return, so you can enjoy your summer without worrying about the other tax time right around the corner.
do you plan to finish your return as soon as possible, or will you wait until the six-month extension is almost up?
Share in the comments below.
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