Education » Articles » Five Tips To Ease Tax Preparation
Five Tips to Ease Tax Preparation
Tip #1: Organize Your Records
Assemble and sort your records to help you quickly locate needed information. Document
your income, deductible expenses, tax payments and direct deposit information. See
IRS Publication 552, "Recordkeeping for Individuals."
Tip #2: Gather the Forms You Need
Download forms and instructions from the IRS Web site irs.gov, pick up IRS forms
and publications at your local post office, library, or IRS office, or call to have
forms mailed to you: 800-829-3676. The IRS’s TaxFax service can fax forms and instructions
to you; call 703-368-9694 with the phone attached to your fax machine.
Tip #3: Use Taxpayer Assistance
The IRS provides trained volunteers who offer free, in-person assistance. Call IRS
tax assistance at 800-829-1040 to find a location near you or to get answers by
phone. Call TeleTax at 800-829-4477 for prerecorded information, or check the Frequently
Asked Tax Questions section of the IRS Web site, irs.gov.
Tip #4: Pay Attention to Details
Double-check your math, sign your return, attach all schedules in the proper order,
and keep a copy of your complete return for your files. Check the directions on
how to file in your instruction booklet.
Tip #5: Take Advantage of Electronic Delivery
Electronic filing with a direct deposit refund is the fastest way to get your money.
Paper filing and refunds take six to eight weeks, compared to just 2 weeks with
electronic filing and direct deposit. For direct deposit, you’ll need to specify
UW Credit Union’s routing number 2759-7907-6 and your account number.
In 2002, a record 45.8 million taxpayers e-filed, and 36.5 million used direct deposit
for their refunds. How will you file this year?