Prepare Now to File Your Taxes
The April 15 tax deadline—or April 17 for Maine and Massachusetts due to state holidays—is still several weeks off, but there are plenty of tasks you can do now to get ready.
Consider completing these to-dos as early as you can to facilitate submitting your tax return.
Create an IRS account
If you don’t have one already, you can create your own IRS account to access your tax records, including your most recent tax return to use for reference when filing your 2023 return. You can also utilize your account for functions like viewing your payment history and updating your bank account information.
Consider your life events
Think about whether you made any big changes last year that you need to document in your return; perhaps you bought a home, got married, had a child, or started receiving social security. For instance, if you got hitched, you may want to file jointly to possibly benefit from lower tax rates and higher deductions. Similarly, having a baby can entitle you to several helpful tax credits.
Gather key information
Make sure you have all essential data on hand, such as the social security numbers and birth dates for you, your spouse, and your dependent child. You’ll also need your bank routing and account numbers if you plan to have your refund deposited directly into your account or make or a payment straight from it.
Collect your documents
To ensure you don’t miss anything, make a list of everything you need and check items off as you receive or collect them, keeping them all in a single folder or box until you’re ready to file. Since most tax-related forms must be sent by January 31, they should likely have arrived already. If you’re still missing necessary documents, check your online accounts; some companies issue them electronically rather than by mail. You can also contact your employer, payer, or issuing agency directly to request the documents be re-sent.
Prep to prepare your taxes
If you plan to manually complete your tax return yourself, you can either download the required forms from the IRS or have them mailed to you. (Just make sure to order them early enough ahead of the deadline.) Alternatively, you could use tax software like TurboTax to e-file your return, or engage the services of your accountant or a professional tax preparer —working with a professional can ensure greater peace of mind and make it easier to file if have complicated taxes.
If you finish this process ahead of the April deadline and decide you’re ready to file, then go ahead—after all, sooner is always better than later. Should you be entitled to a refund, you might even receive it earlier as a result.