Avoiding a Last-Minute Tax Season Panic

Tax season is a phrase that makes many people cringe. You may put off filing your taxes until the very last minute, and this can lead to some unnecessary stress. Instead of putting off your tax preparation until April 14, consider these tips for having everything ready to go on time. You and your accountant at your tax firm Sarasota FL will both be thankful!

Keep Payroll Records Throughout the Year

Keeping concise records of your payroll history throughout the year can help clear up any discrepancies during tax season. If you have accurate records of how much you were paid and how much tax you paid, you will be able to easily compare that to your final tax return. This can help you and your accountant immediately pinpoint any errors.

Get Your Forms on Time

The federal government requires employers to have W-2 tax forms distributed by January 31. This gives you plenty of time to get your forms to your tax firm in a timely manner. If your employer is slack on getting these necessary documents to you, you can submit a form through the Internal Revenue Service; the employer is then fined for failure to distribute on time.

See Your Accountant Before April

Save yourself a lot of stress this year by meeting with your tax accountant before April. This is when the rush of people start trying to make appointments. If you set up a meeting in February or March, you are much more likely to get the one-on-one service that you need.

Tax season does not have to be nearly as stressful this year when you follow these easy tips. Organization and punctuality can go a long way in keeping your stress lowered about taxes. Contact your tax firm today to find out how you can get a head start on your tax filing this year.

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