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Nov. 23, 2010
The holiday season is here, which means that the tax season will soon follow. As you prepare for the holidays, here are some tips to help you complete your state tax return early in 2011:
Keep your receipts together. You can tuck your receipts into a big envelope, folder or even a shoe box. Grouping receipts into separate envelopes also makes sense, and makes the whole process easier. For example, one can keep childcare receipts in one envelope, work expenses that were not reimbursed in another, and so on. And remember, if you are buying items online and the company doesn’t charge you sales tax, you are required by law to keep track of those purchases and pay the sales tax on your Indiana tax return. If you have not been doing this through out the year, it’s not too late. You still have time to track down your expenses so that you can be prepared when you file your taxes.
Make a list. Most people have to wait on statements from their bank, mortgage company, and employer (W-2s, 1099s, etc.), before filing their tax returns. Simply cross off each tax statement from your checklist as you get it in. This will eliminate any uncertainties, speed the filing process and allow you to be confident that you have not missed anything when you file.
Take stock of your life. Did your life circumstances change during the year? Marriage, divorce, having children, even moving can have an impact on your filing status and withholding. If circumstances have changed, it is important that you tell your employer before the year is over and make sure they have your current information on file.
If you follow these tips, you will be able start off 2011 prepared for the upcoming tax season.
If you would like to speak with a bilingual representative from the Indiana Department of Revenue, please call (317) 232-2240 (press 2 for Spanish) from 8 a.m. to 4:30 p.m., Monday through Friday. You can also visit the Department’s Web site at www.impuestos.in.gov/ or you can submit questions via e-mail to firstname.lastname@example.org
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