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Nov. 25, 2009
It’s hard to believe that in just a couple of weeks the holidays will be here, and that means tax season is not too far away either.
Just as you begin to prepare for the upcoming holidays, it’s just as important to begin preparing for the 2010 tax season. Here are few things that will make filing your taxes early next year much easier:
Keep your receipts together. Keeping your receipts in a big envelope, folder or even a shoe box will go a long way when it comes time to file your taxes. Grouping receipts into separate envelopes also makes sense and makes the whole process easier. And anything that makes preparing your taxes easier is worth doing. For example, you can keep childcare receipts in one envelope, work expenses that were not reimbursed in another, rental receipts in another and so on.
Make a list. Most of us have to wait on statements from our bank, mortgage company, employers (W-2s, 1099s, etc.) and others before filing our tax returns. Making a list early will help eliminate any uncertainties, speed the filing process and allow you to be confident that you have not missed anything when you do file.
Look at changes in your life. Did you have major life changes happen in 2009? For example, changing jobs, getting married or divorced, having children, moving, and so on can have an impact on your filing status and withholding. If circumstances have changed in your life, it is important to tell your employer before the year is over and make sure that your current information on file is accurate.
If you have not been keeping your receipts together, making a list or updating your employer of major life changes, it’s not too late. Begin doing these things today and you may enjoy your holidays more knowing that you will start 2010 not having to worry about getting things together for your taxes.
If you would like to speak to a bilingual representative about the upcoming tax season, please call (317) 232-2240 (press 2 for Spanish) from 8 a.m. to 4:30 p.m., Monday through Friday. You can also e-mail your questions to email@example.com or visit the Department’s Web site at http://www.impuestos.in.gov/
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