February 17, 2006, Newsletter Issue #4: File Early, Save Later

Tip of the Week

The earlier the better. It is never too soon when it comes to preparing for the tax season. The government and tax professionals always encourage taxpayers to get a jump on their Federal Tax Return preparation, especially since filing early avoids the last minute rush. Here are some steps to get ahead on your taxes:

• Have all the records you need including W-2s and 1099s. Don’t forget to save a copy for your records.

• Make sure you have all the correct forms. Did you know they are available around the clock on the IRS Web site.

• Do not rush! Take a break, walk around and clear the mind! Mood music any one? For heaven sake don’t stress - you're likely to make silly mistakes.

• Double-check, and then triple check all your calculations and make sure the Social Security numbers you're using are correct.

• Consider tax preparation online when you file early. It catches calculation problems, gives you confirmation when your return has been received and provides you with the opportunity for a faster refund.

Remember: the IRS is there to help. Try IRS.gov or call toll free at 1-800-829-1040.

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