4 Ideas to Keep in Mind When You File Your Taxes

4 Ideas to Keep in Mind When You File Your Taxes

Remember: the deadline to pay and file your taxes is July 15. Although filing your tax return can be a complex process, there’s no reason to feel overwhelmed. Below you will find four tips that will help you take the stress out of Tax Day.

File Your Taxes Electronically

Filing your taxes electronically is your best option. The process is simple, fast, and secure. Furthermore, filing electronically reduces the risk of mistakes, since all calculations are verified by a tax program. Combining electronic filing with direct deposit is the best way to ensure that you get your tax refund as soon as possible (find more about tax refunds below).

If you don’t know how to file your taxes electronically yourself, or if you need assistance to make sure you stay compliant with all applicable regulations, contact the experts at JT Tax Services. They will be happy to help you take advantage of filing your taxes electronically.

How to Easily Check the Status of Your Refund

Checking the status of your refund is really easy. You have two main options to do this. You can use the online tool Where’s My Refund? provided by the IRS or you can download the IRS2GO mobile app in order to have the same information readily available on your smartphone. These are the most efficient ways to get information about the status of your refund. You can also contact the automated refund hotline at 800-829-1954, but as the IRS points out, there’s no need to call unless the online tool indicates you to do so.

Your Options if You Can’t File or Pay Your Taxes by July 15

Not everybody is ready to file and pay their taxes just yet. These are your options if you need more time in each case.

  • Request an extension to file: If you can’t file your tax return by July 15, you can request an extension to file that will give you time until October 15, 2020, to file your return. You can request an extension by making a payment using IRS Free File and selecting extension as the reason for the payment. Alternatively, you may also mail a Form 4868, Application for Automatic Extension for Time to File, by the July 15 filing deadline.
  • Set up an Installment Agreement: On the other hand, if you can’t pay by July 15, you may qualify for an Installment Agreement to spread out your payment over a set period of time. If you are interested in requesting an Installment Agreement, you can do so online, or by downloading and mailing  Form 9465 (Installment Agreement Request) to the IRS along with a tax return, IRS bill or notice.

Depending on your specific situation, you may have more options available to you if you can’t file or pay your taxes by July 15. You can check some of these additional options here. Contact a tax expert to learn more about the alternatives that best fit your personal situation.

Get Advice From the Experts at JT Tax Services

Equipped with these tips, you will be able to file your taxes easily and with no stress. However, it’s always important to get personalized advice.  Our knowledgeable experts at JT Tax Services will help you so you can take advantage of all the relief initiatives you are eligible for while staying compliant with all regulations that apply.

At JT Tax Services we have the experience, the knowledge and the drive to assist you. With our advice, you can file your taxes with the peace of mind that comes with knowing that you are limiting your liability while staying compliant with federal and state tax regulations.

We are located in Oxnard, California. Contact us by email, telephone (805-984-8890) or through our social media accounts on FacebookTwitter and LinkedIn to learn more about our services.

We will be closed Saturday, Sunday and Monday (July 2nd - 4th)
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