Are you waiting for January to start your preparations for filing 2019 federal income tax returns? We say, why wait? The preparation requires small measures which, if taken timely, can do away with all the last-minute tax filing jitters.
Tax filing is usually a cumbersome task and requires due collation and presentation of financial and other related data. By following the guidelines, you can streamline how you prepare your taxes and be ever-ready with all the enclosures.
Visit the Get Ready tab on the IRS website
The IRS website provides all the essential information to keep you well-versed with the latest tax updates and codes. You can prepare for your 2019 returns, which need to be filed in 2020 by visiting the Get Ready tab on the IRS website. The page contains all the must-know information to begin your tax preparation for 2020. Let’s take a look at what this page has in store for you:
- How to organize tax records
- Ways to check tax withholding and making adjustments or tax payments
- Steps to renew expired Individual Taxpayer Identification Number (ITIN)
Explore the electronic tax filing options
You can file your 2019 returns online or electronically without any hassle. The electronic tax filing options are easy, secure, time-efficient. You can file your taxes electronically by using IRS Free File or Fillable Forms. You can also pay for your taxes electronically using payment options like:
- IRS Direct Pay
- Debit or Credit Card (Additional Processing Fee)
- Electronic Federal Tax Payment System
- IRS2Go app
Visit the Let Us Help You Tab
You may read on a wide variety of tax-related topics and codes on the Let Us Help your Tab on the IRS website. The IRS website is filled with informative articles that can help you understand your taxes better and take prompt and conscious tax-related decisions.
Visit the Volunteer Income Tax Assistance or Tax Counseling for the Elderly site
If you are facing a financial crunch and need some free tax preparation help, then you can have your taxes prepared at either Volunteer Income Tax Assistance or Tax Counseling for the Elderly site.
You can also become an IRS-certified volunteer and help file returns of other taxpayers as well.
It’s never too early to start your tax preparation. The better prepared you are, the flawless your tax-filing experience will be in the upcoming year. There are many measures that you can take in advance like collecting bills, your children’s tuition fee slip, or for that matter, any enclosure that might help you get a tax break. You can also contact your MyTaxFiler expert for a consultation to understand your tax liabilities and eligible benefits before the tax season starts.