Tips to ensure a stress free tax refund season
RAPID CITY, S.D. – Tax refund season has arrived. For those who have made changes this past year, the thought of filing for your refund might sound stressful. We reached out to Liberty Tax to learn more on how to have a stress free tax season.
There are several ways that you can approach filing taxes. You can go to a tax service and pay for them to assist you. Liberty Tax is one of those services that will file your taxes for you. They charge based on how many forms need to be filed.
If you plan on filing on your own it is best to look for a credible online service. H&R Block and Turbo Tax are two online services that are well known, but it is always important to do your research.
Before filing online be sure that the computer you use is safe from viruses because you will input personal information.
Some of the forms you should have ready are the W-2 from your 2018 employers, the 1098-T form if you are a college student and shopping receipts. Life changes such as having a baby, getting married, or starting a business can change the way you file taxes.
If you started a business be sure to locate all of the tax forms related to that business. If you had a child be sure to list them as a dependent.
In marriage, if you have a child it is recommended that the couple files jointly. Filing a joint return with a spouse helps you make the most of the refund.
Many are concerned about disclosing personal information on their computers. In that case, contact the IRS for a security code. That code can help protect against identity theft and fraud.
All businesses are required to have W-2 forms out by Jan. 31. If you do not receive your W-2 shortly after that date reach out to the business or the IRS to locate the form.
Shelby Dahl, the general manager at Liberty Tax, gives more insight.
“The IRS is opening January 28th this year. So that is when they will start processing and going through those refunds. It takes up too 21 days for you to receive your refund once the IRS has accepted it,” said Dahl.
If you file earlier than Jan. 28 you can expect the refund to come in with 21 days of Jan. 28. The last day to file for tax refunds is April 17, 2019.