Actualizado
04/01/2025
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12:41
CSTTax season is just around the corner. Although there are almost three and a half months until the deadline, it is never too early to start preparing. If you are ready to get started, here are some tips that will make your life easier this tax season.A vital step before you even start thinking about income and expenses is to create your IRS Online Account for individuals. This account will allow you to see details of your most recent return, request a Personal Protection PIN, and access transcripts of your account that include wage and income records.If you already have your IRS Online Account, it is time to find someone to file your tax return. It is of utmost importance that you find an IRS-certified professional to avoid any setbacks and possible fraud or scams.If you don’t have the ability to hire a professional but lack the confidence to fill out your forms yourself, you can find a way to file for free. The IRS’s Free File and Direct File programs allow lower-income taxpayers to file their returns easily, safely, and for free.The IRS also offers the Volunteer Income Tax Assistance service. This program is available to seniors, members of the military, low-income taxpayers, or those with limited English proficiency.Organizing and having your documents in a physical or online filing system will help you file your tax return more quickly and easily.Research and understand what your tax obligations are depending on your level and sources of income. For example, taxpayers with income greater than $5,000 from online marketplaces or payment apps will need to fill out a 1099-K form.If you have digital assets such as virtual currencies, cryptocurrencies, stablecoins, or non-fungible tokens (NFTs), you will need to include them in your return. Similarly, if you sold any of your digital assets, you’ll need to include that income on your return.If you’re over 73, remember that you’ll need to take your Required Minimum Distributions (RMDs) to avoid any issues with the IRS. If you turned 73 in 2024, you’ll need to take your RMDs no later than April 1, 2025.The fastest and safest way to receive your tax refund is to select direct deposit. If you don’t have a bank account, you can set up an account at an FDIC-insured bank or local credit union. Veterans can use the Veterans Benefits Banking Program to find a bank that fits their needs.After you file your returnStay tuned for any IRS communications. Ignoring a notice related to your tax return can be a serious mistake. Late or incomplete payments can result in steep penalties or even garnishments of wages or personal property.Finally, the time frame for a refund depends on several factors. Although the average for a refund is 21 days, some require additional reviews or longer processing time. If there are errors or missing information, the process will take even longer.Filing your tax return can seem like a cumbersome and often frustrating process; however, with proper prep
Ven. Gen 10th, 2025
