Tax day is three days away. If you’re still scrambling to file your taxes, then we have you covered with some tax tips that might have slipped by you. If you already filed your taxes then save these tips for next year.
• Have you been out of town and haven’t been able to file your taxes? Don’t panic if you need more time. Juan Gonzales of JRG Tax on Third Avenue said you can file an extension.
“You can file for an automatic six-month extension if you need more time to file your 2012 taxes. However, realize that this is an extension to file, and not to pay your taxes. If you owe, or think you will owe, you must send in your payment with the extension form. You can download form 4868 directly from the IRS Web site at: www.irs.gov. If you questions about your return call the IRS directly at (800) 829-1040.”
•A common error or mistake that is often seen on tax forms is the misfiling status as head of household, according to Yolanda Ramos of Yolanda Ramos Inc. located at K Street.
“Filing status is one of the main problems when it comes to filing taxes. It is not that simple. People who are married should file jointly, or separately. Married couples that file each as head of household and each declare a child or children is a common error when filing taxes.”
•Juan Gonzales of JRG Tax said most errors can be avoidable if you just double check your numbers.
“I always recommend they check dependents’ social security numbers,” he said. “Those social security numbers for dependents give you [the possibility] for a lot of tax deductions for dependents. If they’re incorrect, you won’t be able to get those tax deductions.”
Ramos said that if you’re unemployed and are receiving unemployment, be sure to tax it.
“Unemployment is taxable. Lots of people don’t know that unemployment is taxable until the IRS comes after them,” she said.
Juan Gonzales said direct deposit is the fastest way to get a tax refund.
“The IRS agrees that using e-file with direct deposit is the fastest option for taxpayers. The IRS expects to issue nine out of 10 refunds in 21 days or less, but the agency said it was issuing refunds to more taxpayers “in as few as 10 days this year for those who e-file and select direct deposit.”
Lastly, Yolanda Ramos said some mileage on your car can be used as a deduction.
“You can claim mileage deductions on your car in three different categories. A 55.5-cent mileage deductible can be claimed for a standard business trip."