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Posted by: Maricopa Lawyers on Mar 13, 2015

This year stands to be one of the most complicated years for the IRS and for you as a result. As if income tax filing procedures weren’t complex enough already, this tax season will be the first when the IRS will have to administer the premium tax credits and individual mandates under the Affordable Care Act. Here are some tips to ensure that your filing experience is as simple as possible.

  • Securely save each and every tax form that arrives in your mailbox. Designate a specific place to put all of your W-2s, 1099s and statements as they arrive and, when they show up, put those forms in that place.

  • Figure out how you’re going to prepare your taxes. Are you going to use software and do it yourself? Are you going to do it manually? Are you going to use a service? If you choose to do it yourself, it’s probably time to start gathering materials.

  • Contribute to your Roth or Traditional IRA. If you’ve been thinking about opening or contributing to a Traditional or a Roth IRA, you can contribute and have those contributions count for the previous year up until April 15 of this year. If you’re still not sure you want to contribute or you just haven’t gotten around to it, it’s not too late. You can make those contributions as long as you do it before you file.

  • Think (and talk) about changes in your filing status. Did you get married (or divorced) in the past year? Did you have a child? Did one of your children set out on their own this year? All of these things affect your filing status, and many of these types of changes affect the filing statuses of others, so talk to the people involved.

  • Be ready for an extension if necessary. Sometimes, taxes end up being more complex than you expect. Sometimes companies lag on getting the correct documentation to you on time. Thankfully, if you’re facing these kinds of issues, it’s very easy to receive an extension on your filing. Just fill out Form 4868 and submit it. You have to make a payment equal to your estimate of what you will owe, but this allows you to not incur any penalties while you’re tracking down final details.

Tax season is enough of a headache. Taking little steps like these can really help to ease that headache.