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You Can Get Ready Now to Do Your Taxes.

Updated: Dec 16, 2023

Why wait until the last minute to get ready to do your taxes? Especially if you're expecting a refund! I don't know about you, but I'd want my money as soon as possible. The IRS has released their tips below in an effort to help you to get a jump start on doing your taxes. You can always visit irs.gov/getready anytime for more information.

 

Here are 5 things you can do now to make filing your taxes go smoothly:


1.     Set up an IRS account at irs.gov/account. Here you can access your tax records. You can make and view payments. You can also view or create payment plans and see how much tax you owe, if any.


2.     Gather and organize your tax records.  This includes gather and keeping important forms and information handy…such as W-2s you will get from your employer and 1099s from your bank, apps and other payers in January.   Also, keep end-of-year documents, such as Form 1095-A Health Insurance Marketplace statement.


3.     Before the year is over, make sure you’re having enough tax withheld or find out if you need to make an additional estimated tax payment.  The easiest way to do this is by using the Tax Withholding Estimator at irs.gov/withholding.


4.     Individual taxpayer identification numbers – also called ITINs – need to be renewed only if they are expired and if they’re needed on a US tax return.


5.     Want a faster refund? Filing electronically and direct depositing your refund into your bank account is the quickest and safest way to get your refund. If you don’t have a bank account, you may want to set one up.

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