Who must file?
Contrary to popular belief, not everyone is required to file state and federal taxes. Generally, if your gross income as employee is less than $10,000, you are single, and under 65 you don’t have to file federal taxes. However, depending on other conditions such as your status, age, etc. you may be required to file taxes even with no, or very little, income.
When is the best time to file my taxes?
The sooner the better if you expect a refund. Same applies if you intend to mail your tax return.
What if I am missing some statements such as W2, bank statement etc. needed for the tax preparation?
Wait for the statements to arrive. Be active, call them up. Remember that they have deadlines too for providing you with documents.
What if I lost/can't find my W2?
For many employers you can get your W2 on line. Other way is to ask your employer to send you a duplicate.
What if I can't file my tax return by April 15?
You can get an automatic extension to file your tax return by using Form 4868 and sending it to IRS by April 15.
What if I can't pay my tax due?
You need to let IRS know and pay in the monthly installments. You still need to file your tax return in time to avoid penalty.
How can I check the status of my refund?
The easiest way to do it is by visiting the IRS website and following their directions. Or, your tax preparer can do it for you.
Have a tax question not answered here? Contact us, and we’ll be happy to help!