Tax season is one of the most stressful times of the year for many Texas taxpayers, with complicated paperwork and filing deadlines often representing a threatening obstacle. In an effort to help taxpayers better handle these issues and file accurate tax returns quickly and easily, the Internal Revenue Service has provided a number of filing tips. Texas residents who fail to submit error-riddled tax returns or fail to file on time may face tax liens, wage levies, interest and other penalties.
The IRS touts e-filing as a free and safe way to submit tax returns, claiming that close to 100 million individuals used this filing option in 2012. E-filing also provides a number of other benefits, such as automatically referencing tax tables to determine an individual’s filing status. Likewise, the IRS has begun accepting payments electronically, allowing filers to pay their taxes using debit or credit cards or an by an online withdrawal. Individuals considering whether to file or pay online should discuss their questions with a legal expert or tax professional.
All taxpayers should carefully check their Social Security numbers and those of any dependents or other individuals listed on the Earned Income Tax Credit or Child and Dependent Care Credit to ensure they are accurate. The IRS can delay or even reduce one’s refund if any information or numbers are incorrect, missing or impossible to read. Similarly, it is important to double-check one’s balance due or refund to make sure they are correct. Incorrect figures could cause the IRS to target one with a tax audit.
If a tax return cannot be completed by the filing deadline, an extension can be filed, which doesn’t mean that an extension is applied to any taxes owed, but it does eliminate a late filing penalty from occurring.
Taxpayers who find themselves in the middle of a dispute with the IRS, may want to consult an attorney who specializes in IRS representation.
Source: Daily Courier, “Still working on taxes? IRS offers filing tips,” April 8, 2013