Essential Tax Filing Tips: What You Need to Know for a Smooth Process

Tax season can feel overwhelming, but being prepared can make the process much easier. Here are some important tips to ensure your filing goes smoothly:

1. Understand Filing Deadlines
The standard tax filing deadline is typically in mid-April, but if you’re unable to file on time, you can apply for an automatic extension. Keep in mind that while you can get more time to file, any tax payments are still due by the original deadline.

2. Free Filing Options
For eligible taxpayers with an adjusted gross income (AGI) of $84,000 or less, the IRS Direct File program allows for free filing. Additionally, the IRS partners with private tax software providers to offer free services for qualifying filers. This can significantly reduce the cost of filing taxes.

3. Review Last Year’s Return
Your previous year’s tax return serves as a helpful reference to determine what documents you need, such as W-2s, 1099s, and donation receipts. It’s important to gather all necessary forms before filing to avoid delays.

4. Account for Major Life Changes
Significant life events like marriage, job changes, or purchasing property can affect your tax situation. Be sure to track these changes, as they could impact your deductions, credits, or refund amount.

5. Watch for New Forms
Small business owners and gig workers may receive 1099-K forms if they exceeded a certain threshold in transactions through apps like Venmo, Etsy, or Airbnb. These new reporting requirements can affect your tax return.

By staying organized and informed, you can navigate the tax season with ease, whether you’re due for a refund or owe money.