3 Tips for Filing Your Taxes After April 15th

April 15 is the annual deadline for most people to file their federal income tax return and pay any taxes they owe. By law, the IRS may assess penalties to taxpayers for both failing to file a tax return and for failing to pay taxes they owe by the deadline.

Here are three things to consider if you’ve missed the deadline:

  1. Identity Theft – Be cautious when choosing a tax preparer to file your taxes. The amount of tax-refund related fraud has skyrocketed in recent years because of unscrupulous tax return agencies without proper certification. The IRS has become increasingly stringent as a result of this epidemic. Be especially aware of the ones that don’t ask for proper documentation when preparing your refund; driver license, children’s birth certificates etc.
  2. Gather All Documents – Keep all your receipts properly filed away throughout the year. However, if you haven’t, organize all your documentation; receipts for deductions, W2’s, 1099’s etc. The more complete and organized your documents are, the easier it is for your Tax Accountant to maximize your return and ensure its accuracy.
  3. Contact a Qualified Tax Accountant – After you’ve gathered all your receipts and wage documents, seek out a certified tax specialist who is qualified to prepare your tax return and give you proper guidance on what you need to do if you’ve missed the deadline to file your taxes. This is the most critical step in filing your tax return. If you take nothing else away from this article, remember this: CHOOSE THE RIGHT TAX SPECIALIST!

Keep these important considerations in mind if you’ve waited a little longer than you should have to file your income tax. Choosing the wrong tax preparer could mean the difference between protracted grief, and smooth sailing.

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