WASHINGTON \u2014The Internal Revenue Service today offered a checklist to help taxpayers as they prepare to file their 2023 tax returns during filing season.
\nThese six easy tips will help make tax preparation smoother in 2024. Much of this information is also available on a special IRS.gov free help page:
\n1. Gather all necessary tax paperwork and records for accuracy to avoid missing a deduction or credit. Taxpayers should have all their important and necessary documents before preparing their return. This will help file a complete and accurate tax return. Errors and omissions slow down tax processing, including refund times.
\nBefore beginning, taxpayers should have:
\n\u2022 Social Security numbers for everyone listed on the tax return.
\n\u2022 Bank account and routing numbers.
\n\u2022 Various tax forms such as W-2s, 1099s, 1098s and other income documents or records of digital asset transactions.
\n\u2022 Form 1095-A, Health Insurance Marketplace statement.
\n\u2022 Any IRS letters citing an amount received for a certain tax deduction or credit.
\n2. Remember to report all types of income on the tax return. This is important to avoid receiving a notice or a bill from the IRS. Don\u2019t forget to include income from:
\n\u2022 Goods created and sold on online platforms.
\n\u2022 Investment income.
\n\u2022 Part-time or seasonal work.
\n\u2022 Self-employment or other business activities.
\n\u2022 Services provided through mobile apps.
\n3. Filing electronically with direct deposit is the fastest way to receive a refund. Avoid paper returns. Tax software helps individuals avoid mistakes by doing the math. It guides people through each section of their tax return using a question-and-answer format.
\nFor those waiting on their 2022 tax return to be processed, here’s a special tip to ensure their 2023 tax return is accepted by the IRS for processing. Make sure to enter $0 (zero dollars) for last year’s adjusted gross income (AGI) on the 2023 tax return. Everyone else should enter their prior year’s AGI from last year’s return.
\n4. Free resources are available to help eligible taxpayers file online. Free help may also be available to qualified taxpayers. IRS Free File provides a free online alternative to filing a paper tax return. IRS Free File is available to any individual or family who earned $79,000 or less in 2023.
\nWith IRS Free File, leading tax software providers make their online products available for free as part of a 21-year partnership with the IRS. This year, there are eight products in English and one in Spanish. Taxpayers must access these products through the IRS website.
\nPeople who make over $79,000 can use the IRS’ Free File Fillable Forms. These are the electronic version of IRS paper forms. This product is best for people who are comfortable preparing their own taxes.
\nQualified taxpayers can also find free one-on-one tax preparation help around the nation through the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs.
\n5. Consider which filing option to use; each one has its own benefits. Taxpayers should decide based on their personal situation and comfort level with tax preparation.
\n\u2022 Personally file taxes.
\n\u2022 Use online filing services.
\n\u2022 Hire a tax professional. Choose a tax professional carefully. Most tax return preparers are professional, honest and provide excellent service to their clients. However, dishonest tax return preparers who file false income tax returns do exist. The IRS has a Directory of Federal Tax Return Preparers with Credentials and Select Qualifications and more on choosing a tax pro on IRS.gov.
\n6. Don\u2019t wait on hold when calling the IRS. Use online resources at IRS.gov to get answers to tax questions, check a refund status or pay taxes. There\u2019s no wait time or appointment needed \u2014 online tools and resources are available 24 hours a day. The IRS\u2019 Interactive Tax Assistant tool and Let Us Help You resources are especially helpful.<\/p>\n","protected":false},"excerpt":{"rendered":"
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