Filing your taxes at the last minute? You’re not alone.
According to Fidelity National Financial, almost a third of all Americans file their taxes at the last minute. Reasons for this include people not believing they will get a refund anyway, or that filing taxes is too stressful and complicated. As of now, the deadline to file taxes is still April 18, 2022. Many people might be hoping that the IRS will throw a last-minute hail Mary like they did last year when they extended the deadline, but experts caution that thinking.
If you are one of those people that get stressed preparing to file your taxes, here are some tips you can work on over the next week or so to help mitigate your stress so when it comes time to actually file, it’s a much smoother experience.
o Organize your documents (i.e., W-2s and Dividends)
o Expenses (i.e., Charitable Donations, Medical Bills, Childcare Costs)
o Investments (i.e., Statements, 1099s, Retirement Plans)
· Personal Information
o Social Security Number
o Employer Information
· Collect Income Data
o Any other forms of income not included on W-2
· Life Changes
o Moved States
o Got Married
o Had a Baby
Please reach out to the professionals at the Center for Financial, Legal, and Tax Planning, Inc., for any tax-related questions at (618) 997-3436.