Personal Returns Due April 15th
Now is the time to be pulling together all of the information you will need to prepare your personal return which is due April 15th. Care and due diligence should be exercised to ensure that you have all of the information that you will need to process to prepare both an accurate and timely return. It is recommended that you put all of the information that you will need to prepare your returns in a specific file for preparation of taxes and that you utilize a checklist to ensure that will have all of the information you will need to prepare your returns. The best source of what you will need for this year is a check of your prior years return and then to compare it to any changes that happened during the year such as a new child, starting a new business, moving, or any other expenses/income which will have potential tax consequences. It is always best to list all potential items for a tax review so that they might best apprise of what is taxable and deductible. In this way you are most apt to pick up all of the items you will need to file a just and fair return.
As each every taxpayer is unique it is best to re-visit this list several times annually to stay abreast of what all will be needed by year end. Also, it is well to be reminded that the IRS as well as individual states expect that the taxes due them are due as you earn the money and that otherwise (unless you meet certain very limited exceptions) that late payment will result in additional penalties and interest being assessed. So plan early and plan often so you might avoid the last minute rush and perhaps the filing of an incomplete return.
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