Filing your personal or business taxes can be stressful; here are 5 tips to make the process a little easier!
- File electronically and use direct deposit.
File your taxes directly through the IRS website and submit your banking information for the quickest refunds. Double check that your banking information is accurate to avoid delays in receiving your refund.
- Check IRS.gov for the latest tax information, including the latest on Economic Impact Payments.
Avoid the headache of a call! Check regularly for real-time updates directly from the IRS, including date changes.
- For those who may be eligible for stimulus payments, carefully review the guidelines for the Recovery Rebate Credit.
Remember, advance stimulus payments received separately are not taxable, and they do not reduce the taxpayer’s refund when they file in 2021.
- Those who did not receive a stimulus payment or only received a partial payment may still be eligible to claim the Recovery Rebate Credit.
Carefully review the guidelines for the Recovery Rebate Credit. Tax preparation software, including IRS Free File, will help taxpayers figure the amount.
- Talk to your bookkeeper about filing both your business and your personal taxes.
Your bookkeeper will have the necessary knowledge about you and your business to file for you, making the process as easy as pie! 🥧