While Form 1040 is the standard document for federal personal income tax returns, you may need to attach other forms and schedules. For example, if you operate as a sole proprietor, you’ll need to file Schedule C. Additionally, if you receive another document, such as a W-2...
12 Things You Need To Do To Prepare For Tax SeasonBankrate Editors
Are you considering becoming a tax preparer? Then this is the guide for you. Our experts have the answers to all the important questions to help you succeed!
To prepare and file your state income tax return, you'll need to know which forms to fill out, if you qualify for any deductions or credits, and more.
Once Jan. 1 rolls around, you’ll have to wait until the following year to reap any tax benefits. For instance, if you know you need a high-cost medical procedure, see if you can schedule it before Dec. 31 to claim it as an unreimbursed medical expense on your taxes. If you’re ...
Before preparing your taxes, go through the following checklist. You may be surprised at how much time you save by organizing your information beforehand.
Did you make a mistake on your tax return or realize you missed out on a valuable tax deduction or credit? You can file an amended tax return to make the correction. Filing an amended tax return with the IRS is a straightforward process. This article inc
past two years, it’s not expected to do so again this year. If you need more time, you can file for an extension with the IRS. However, any payments owed will still be due by the original date. Speak with your accountant or tax consultant for more information about filing an ...
If you don’t have a tax preparer, a good way to find one is to ask friends and advisors (such as an attorney you know) for referrals. Be sure the person you choose has apreparer tax identification number (PTIN)showing they are authorized to prepare federal income tax returns.2 Be su...
Enrolled retirement plan agents and enrolled actuaries are other preparers with PTINs. These experts typically don’t prepare consumer tax returns, although they are included in the IRS directory.4 Storefront preparers such as H&R Block and Liberty Tax often employ an array of tax professionals, ...