How to file taxes

Process for filing taxes

Filing taxes can be overwhelming and scary, but by following best practices you can lower the chances of getting audited.

1. Collect every essential document like W-2s 1099s receipts and past tax returns. Maintain both electronic and physical documents organized within categorical divisions.

2. Understand your filing status along with exemptions while keeping track of tax law changes that might impact you.

   • Examine the effects of life events such as marriage, buying a home, or having a child on your tax situation.

3. Deploy Dependable Tax Programs:

   • Select software with positive reviews that provides detailed instructional support. Verify the existence of state-specific versions to meet your state tax filing obligations.

4. Mark your calendar with key deadlines (e.g. April 15 for federal income tax).

   • Initiate your filing process at the earliest opportunity to circumvent end-moment pressures.

5. Double-Check Information:

   • Perform validation checks on Social Security numbers alongside personal names and residential addresses. Verify entered data to maintain accuracy and avoid processing delays.

6. Examine potential deductions and credits then assert your eligibility for each one. Evaluate the potential benefits of itemizing deductions as an alternative to claiming the standard deduction.

7. Engage a tax expert when faced with intricate financial circumstances. Verify that your tax preparer possesses both a reputable standing and the necessary professional qualifications.

8. File Electronically:

   • The process of electronic filing surpasses paper filing in speed and accuracy. Direct deposit stands as the method to accelerate refund processes.

9. Protect Personal Information:

   • Employ robust techniques for both storage and transmission of sensitive information. Exercise extreme vigilance regarding tax-related scams particularly during tax season.

10. Maintain duplicates of your submitted tax return together with every supporting document. Maintain tax documentation for a minimum period ranging from three years to seven years based on individual circumstances.

11. Adjust withholdings if needed using Form W-4. Examine estimated tax requirements when earning self-employment income alongside other non-withheld earnings.

Resources to help file taxes

Online websites

• Turbo Tax: Free and paid tax filing service through Intuit

• Cash app Taxes: Free tax filing program through Cash app.

• IRS Website: The platform provides an array of complimentary forms alongside detailed instructions and resources to assist with federal tax filing.

• TaxAct: Free and paid tax filing service

New Orleans Based Resources

• United Way of Southeast Louisiana: The collaboration between United Way and VITA delivers complimentary tax preparation assistance to individuals.

• Entergy free tax help: Entergy New Orleans has historically sponsored Super Tax Day events offering free tax preparation services.

• Louisiana Department of Revenue: The Louisiana Department of Revenue offers various taxpayer resources which include online tax filing and payment options as well as refund status checks and past return amendments.