4 Things to Have Ready for 2015’s Tax Season
Tax season officially began on January 20th, yet many of us still find ourselves running around come April, trying to get everything in order so that we can get our returns in on time. This year, taxpayers are particularly antsy to get their returns in as soon as possible, as recent tax years have proven that the longer you wait to file, the longer it will take to receive your refund.
If you want to get a head start on your taxes this year, there are four essential numbers you’ll need handy when the IRS opens its proverbial doors for filing. They are as follows:
1. All of the relevant financial information about your job in 2014 – You’ll need key figures such as how much you earned, how much you had withheld from each paycheck and how much you had in deductible expenses like healthcare, savings, etc.
2. Investment income information – If you earned money from investments in 2014, you’ll need to have that amount handy when you start preparing your return.
3. Records on deductions and credits – If your deductions and credits exceed the standard amount set by the IRS; you’ll need to have records to support your claims.
4. Your bank account information – The quickest way for the IRS to get you your refund is for them to deposit it directly into your bank account. Using direct deposit saves the mailing time of a physical check.
Taxes and tax returns are never fun to think about or work on, and they can be time consuming if you have a lot of deductions and exemptions. For help filing your return in the most efficient and quickest way possible, visit http://www.irsallstar.com/our-services#16