Tax questions? Your best resource is the horse's mouth the IRS!
With spring bulbs sprouting and flowering trees in blossom, spring is one of my favorite seasons. However, there's a good-news bad-news aspect we can't ignore. The bad news is that it's also tax season. I sometimes wonder if Mother Nature didn't brighten the view out of the window to provide a little cheeriness to the task of filing taxes! As I pore through the magazine sized instruction book the IRS provides, when my mind starts to glaze over and the aspirin is in my near future, I can glance out my window for a little mental refreshment.
I don't know about you, but every line after the name, address and exemptions section produces a tax question in my mind. At the very least, those IRS folks should put a glossary of terms at the back of the booklet so that the average person can understand what it all means. JMHO, but I'd bet I'm not the only one who could benefit from this helpful addition to the tax instructions!
Even the online tax filing software doesn't answer all your tax questions. Some of the tax questions put to you by the software leaves you wondering whether you need to check that box, or say yes or no. Here are some suggestions you can put in place to ensure an accurate return that also puts your finances in the best position.
If you use tax software, you can make a note each time you encounter a tax question that has you scratching your head. (You can always back up later and correct any discrepancies before you file.) Answer the question to the best of your knowledge and understanding, but make a note of each tax question that crops up during the process.
Before you finish and send it off, take your notes and call the IRS for clarification on each tax issue. Although the IRS entity probably doesn't have many fans, you've got to hand it to those IRS telephone agents. They can answer all of your tax questions and give you references to boot. When you've got all your tax questions, problems and issues straightened out, you can go back to the software and apply the correct information for each line, schedule or whatever. BTW, when you call the IRS, log the date, time and agent's ID code to back you up, should your tax filing be rejected for inaccuracies.
If you prepare your taxes the old fashioned way, with only the booklet and penned in figures, do the best you can and then take all your tax questions to the IRS 800 number agent for verification.
For me, there's nothing worse than laboring over this tax filing, downing coffee and aspirin like nobody's business, only to file it and find they detected errors and thus, reject your tax return. If you're entitled to a refund, you certainly don't want to short yourself on your own money which has been lounging in the IRS coffers all year long. On the other hand, if you must pay a balance due, you want that to be as small as possible.
You should never feel reluctant to call the IRS for clarification. Unlike a tax accountant, the phone call and service is free. I shouldn't even say it what if they were to start charging to answer tax questions, as some airlines are now doing for the privilege of using the lavatory in flight? Now wouldn't that take the cake!
With spring bulbs sprouting and flowering trees in blossom, spring is one of my favorite seasons. However, there's a good-news bad-news aspect we can't ignore. The bad news is that it's also tax season. I sometimes wonder if Mother Nature didn't brighten the view out of the window to provide a little cheeriness to the task of filing taxes! As I pore through the magazine sized instruction book the IRS provides, when my mind starts to glaze over and the aspirin is in my near future, I can glance out my window for a little mental refreshment.
I don't know about you, but every line after the name, address and exemptions section produces a tax question in my mind. At the very least, those IRS folks should put a glossary of terms at the back of the booklet so that the average person can understand what it all means. JMHO, but I'd bet I'm not the only one who could benefit from this helpful addition to the tax instructions!
Even the online tax filing software doesn't answer all your tax questions. Some of the tax questions put to you by the software leaves you wondering whether you need to check that box, or say yes or no. Here are some suggestions you can put in place to ensure an accurate return that also puts your finances in the best position.
If you use tax software, you can make a note each time you encounter a tax question that has you scratching your head. (You can always back up later and correct any discrepancies before you file.) Answer the question to the best of your knowledge and understanding, but make a note of each tax question that crops up during the process.
Before you finish and send it off, take your notes and call the IRS for clarification on each tax issue. Although the IRS entity probably doesn't have many fans, you've got to hand it to those IRS telephone agents. They can answer all of your tax questions and give you references to boot. When you've got all your tax questions, problems and issues straightened out, you can go back to the software and apply the correct information for each line, schedule or whatever. BTW, when you call the IRS, log the date, time and agent's ID code to back you up, should your tax filing be rejected for inaccuracies.
If you prepare your taxes the old fashioned way, with only the booklet and penned in figures, do the best you can and then take all your tax questions to the IRS 800 number agent for verification.
For me, there's nothing worse than laboring over this tax filing, downing coffee and aspirin like nobody's business, only to file it and find they detected errors and thus, reject your tax return. If you're entitled to a refund, you certainly don't want to short yourself on your own money which has been lounging in the IRS coffers all year long. On the other hand, if you must pay a balance due, you want that to be as small as possible.
You should never feel reluctant to call the IRS for clarification. Unlike a tax accountant, the phone call and service is free. I shouldn't even say it what if they were to start charging to answer tax questions, as some airlines are now doing for the privilege of using the lavatory in flight? Now wouldn't that take the cake!
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