It's coming. That's right, the deadline for filing your federal income tax return is just a week away.
If you haven't filed your tax return yet, you're not alone, the Internal Revenue Service says. During the final two weeks of the tax-filing season, IRS expects Idaho taxpayers to file about 200,000 federal tax returns and an estimated 48,000 extension requests.
To help avoid stress at the eleventh hour and beat the crush of the April 15 deadline, the IRS has a few tips.
Most importantly, prepare now and make sure you have all the documents you need to file your return, including W-2 earnings statements and 1099 interest-dividend statements. If you itemize, make sure you have the receipts for all your deductions such as charitable donations and medical expenses. Inaccurate or missing information could delay your refund.
"If you're filing a paper return, allow yourself enough time to review the return after it's finished," said Sue Hales, IRS spokeswoman for Idaho. "Double-check the accuracy of all math entries and social security numbers, attach all W-2s and appropriate schedules, and sign the tax return."
The IRS also recommends that taxpayers file electronically, even if they owe money. There's no need to hold on to your return because you owe money, the federal agency states. Taxpayers can file electronically now and set their automatic payment for April 15.
According to the IRS, electronic filing has many benefits. Electronic filing offers faster refunds, more accurate returns, paperless filing and confirmation within 48 hours that the IRS has accepted your tax return.
"If you are due a refund, e-filing and having your refund directly deposited into your bank account is the way to go," Hales said. "You should get your refund in 10 days or less."
Need more time to file your 2008 tax return? Taxpayers can request an extension and get an additional six months—until Oct. 15—to file their tax return. To get an extension, taxpayers must file Form 4868, which is available on the IRS Web site.
"Extensions only provide additional time to file your return, not to pay," Hales said. "Estimate your tax liability and pay any balance due by April 15."
Recorded tax information on a variety of topics is available by calling (800) 829-4477. Toll-free telephone assistance is available by calling the IRS at (800) 829-1040. Call 211 or (800) 926-2588 for volunteer tax assistance site locations. Help is also available at some IRS offices. Check out the IRS Web site at www.irs.gov for IRS office locations and hours.
Jason Kauffman: jkauffman@mtexpress.com
