One of the least fun things to do as an adult (well, in my opinion anyway) – is taxes. *groans*
Either way, it'll all go smoothly when I spend the afternoon plugging everything into TurboTax. I just don’t like doing it. I know I'm not the only one who feels this way but unfortunately, it has to be done.
Since you can't come into a Skyla branch to file your taxes like at a tax prep company, I’ll share the "need to know" tax information to help make the filing process easier. Tax Day is on April 15, 2024, so I’ve pulled together a list of resources to also help make this task easier.
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Let’s face it… the amount of tax jargon thrown around can be overwhelming! So before you get started filing, here's a short list of terms you’ll want to know. If you want to take an even deeper dive into taxes, check out the IRS’s complete tax glossary here.
[faq1]
Tax Day for the year 2023 is Monday, April 15th, 2024. If you’re planning on mailing your taxes in, they must be postmarked by that date to not be considered late.
If you don’t think you’ll be able to meet that deadline, file for an extension as soon as possible. To file an extension, visit the IRS’s website here.
The short answer? Yes, you can absolutely file your own taxes. However, as your life changes, so will your tax situation (think – growing your family, changing jobs, buying a new house or car, investing, etc).
If you can answer “yes” to these questions, chances are you’ll be able to file yourself. The IRS even offers free e-filing for simple returns. If you couldn’t answer a simple yes, it would probably be smart to get help when filing. The last thing you want to do is file your taxes incorrectly and have the IRS after you!
Want to know how to file your own taxes? I have just the thing.
If you’ve filed your taxes and are getting a refund, the IRS typically processes returns within 21 days of filing, but there are no guarantees. You can always check on the status of your refund on the IRS website (you’ll need your Social Security Number or ITIN, your filing status, and the exact refund amount). You can check-in as early as 24-hours after filing.
QUICK TIP: It might be tempting to use your tax return to splurge on a vacation or buy something cool, but putting that unexpected bonus towards debts (like credit card or car payments or student loans) or using it to jump-start an emergency fund or savings account will reward you in the long run. |
[faq2]
I’ll be honest, I Google this question every year because, without fail, I always end up having to pay more taxes... Meanwhile, everyone else gets a fat check of a tax return. If you’re not getting a return because you came out even or owe more on taxes, it’s likely because:
The IRS releases what they call the “Dirty Dozen” each year with the top 12 scams they find. They release a new scam daily, so you can stay up to date with the 2022 and 2023 lists by checking out the IRS website.
QUICK TIP: The IRS will always contact you via mail before ever trying to reach you over the phone. If someone calls you claiming to be from the IRS and you are not aware they were trying to contact you, ask the caller to provide their name and badge number, then call them back using the main IRS number: 1-800-366-4484. |
As you prepare your documents, keep this blog article close in case you need help filing your taxes. The important thing to remember is everyone has to file their taxes, so sometimes your friends and family are great resources and can point you to where they found help. If you're looking for more info on how to file your own taxes or where to see professional help, here's what'll help.