Wednesday, April 14, 2010

Final week to file Taxes

This is the last week to file your taxes. I am sure you have plenty of last minutes questions that need answers.
Here are some examples: Q Is it too late to find someone to prepare my taxes?
A You can try to find a tax preparer to assist you, but keep in mind their schedules are very busy this time of year. It might be difficult to get an appointment. Here is a tip for choosing a tax preparer at IRS.gov/. If you are going to choose someone else you must pick someone you can trust, because once you sign that return, and sent to the IRS, if the IRS has any questions about the information on the return, they ill contact the preparer of the taxes.
Q What options do I have if I want to fill out my taxes myself?
A If you choose to go it alone-which more people are doing that now. You have two free-file programs that are out there and you can access them by just going to www.irs.gov and clicking on free file.
Q What if I do make a mistake on my taxes?
A If it is a paper return, it has to be mailed back to the taxpayer. Taxpayer must make the corrections,mail back to the IRS.. this can be quite lengthy time period. The IRS does an initial error check when the return is filed electronically to the agency and you will receive within a 24-48 hours confirmation whether the IRS has accepted or rejected the return. If return is rejected, the taxpayer would then, within 24-48 hours go in and make changes.
Q How do I get an extension on my taxes?
A It is a simple form. Its a form 4868, and it can be prepared and filed electronically as well. There's tax software out there that can help you. This will give you six months extension to file your return. Do remember a extension to file is not an extension to pay. So if you owe the IRS, your money is due by April 15. You will have to come up with an estimated amount to make sure you have not underpaid by April 15.

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