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Guiding You Through The Legal Process

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Hints to make filing taxes easier

On Behalf of | Dec 6, 2017 | Income Taxes

The end of the calendar year is generally a time of celebration and cheer for Georgia residents. However, the end of the holiday season usually means the beginning of the tax season. While this may be a busy time for accountants and taxpayers, the IRS has tried to make the season easier to manage. For starters, the agency recommends that individual and business taxpayers gather relevant documents as soon as possible.

Those who are expecting refunds may need to wait until the end of February to receive them. This is true for those who are claiming the Earned Income Tax Credit or Additional Child Tax Credit. Taxpayers should be aware that the IRS will withhold the whole refund, and this is done as a fraud protection measure. The IRS does say that filing electronically is still the easiest way to avoid issues with a return, even considering potential safety concerns.

Other important tips include keeping tax returns and supporting documents for up to three years after filing. It may also be necessary to renew an ITIN that may have expired or be expiring in the near future. An ITIN will expire if it hasn’t been used in the previous three tax years. If such a number had middle digits of 78 or 79, they have already expired but can be renewed.

Individuals who have questions about their income taxes may benefit by talking to an attorney. Legal counsel can be especially helpful to individuals who are being audited or have issues related to federal taxes. A lawyer could explain the ways a client may be able to resolve a tax-related issue.