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While every tax filer’s situation is unique, all taxpayers have a similar experience. That’s because the IRS demands certain information from everyone. But filing taxes doesn’t have to be an ordeal. You can be less frustrated and more efficient if you have all the material at your fingertips.
The key to a successful tax form is proper reporting. The IRS wants to know how much money you made so it can tax it. You need to know what you can put on your Form 1040 that will help you trim your tax bill.
By being prepared, you’ll be ready to file your return at the earliest possible moment. The IRS usually starts accepting returns around mid-January. And the earlier you file, the sooner you’ll get your refund.
Be warned, however, that this year, tax filers who claim the earned income tax credit or the additional child tax credit won’t get a refund before mid-February. This delay is due to the IRS’s attempt to reduce fraud by unscrupulous scam artists who illegally claim these credits.
Let’s look at seven ways to get organized so that tax-filing will be less onerous.
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