- Double-Check Your Paystub
- With the revised withholding tables, make sure the amount of tax being withheld is correct. Use the IRS’ Tax Withholding Estimator: irs.gov/individuals/tax-withholding-estimator
- With this you can also adjust your withholding for 2020, if necessary.
- Protect Yourself from Tax Scams
- You might receive more phone calls, texts and emails during tax season from so called ‘organizations’ claiming to be the IRS. The IRS will not call you!
- Be diligent when “shopping a refund” Preparers who promise a ‘bigger’ refund might involve dishonesty. Search then confirm credentials. The IRS has a list of registered preparers on their website: irs.gov
- Organize Your Records, it’s Tax Time!
- Doing your taxes can be a hassle, don’t let disorganized records be the reason. Find a tax checklist to help you gather all your required documents.
- Keep all your mail with tax information, such as W-2’s or mortgage interest statements.
- Be careful not to throw out any tax-related documents. Collect all those receipts you’ve been saving and/or know what you paid for any funds or stocks you’ve sold.
- Time is Money, File on Time
- If you can’t file on time file an extension, Form 4868 by April 15th. This will allow a 6-month postponement and avoid a late-filling penalty or a late-payment penalty.
- Tax Max is Back!
- Use your next tax refund toward a new car purchase now. It’s easy, all you need is your most recent pay stub and identifying information for yourself and each dependent. Come see us for more information.
Sports Illustrated
