Tax day is only a few weeks away, and we know that many of you are scrambling to get your paperwork together and get your taxes completed before the deadline arrives. Statistics show that as many as 25% of taxpayers wait until the last possible moment to file their income taxes, mostly due to the fact that they don’t want to pay what they owe any earlier than necessary, so you are not alone. However, we thought you might enjoy a few last minute tips before it’s time to file. Some might help, some might not; take your pick.
The deadline is later
One of the most important tax tips to remember this year is that you have an additional 3 days to file your taxes on time. Emancipation Day is a federal holiday in Washington D.C. on April 15, 2016 which means that filers have until April 18 to file their income taxes. That’s three extra days to prepare.
You don’t have to wait on form 1095-B/C
This is that pesky health insurance form that allows you to prove your insurance for 2015. However, you don’t need it to file. If you know you had insurance or that you did not, just file your income taxes and wait on the form to arrive for your personal records. You can always call and ask about it if it does not arrive soon.
You do have to wait for form 1095-A
This is the form you need to have to correctly file your income tax return if you took advantage of the Affordable Card Act insurance marketplace. If you received your insurance through here, you’ll need this form and the information on it to even begin to file your income taxes.
Double check your return
It seems a bit like common sense, but you’d be surprised how few people even bother. The IRS will catch mathematical mistakes and correct them without coming down on you in any way, but the mistakes you make like this might actually affect your amount owed or your amount being refunded. Double check to make sure all is well, and only then go ahead and file your income tax return.
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