Taxes?!? What's the first step?

Whether we like it or not, tax paperwork is due to the Internal Revenue Service in just under a month. Therefore, if you haven't done so already, you need to begin your paperwork. If you are going to have someone else prepare your taxes for you, be careful in who you choose: you are ultimately responsible for what is submitted! If you are filing your taxes yourself, here are some things to consider.

Filing your taxes doesn't have to consist of loads of paperwork. You can submit your information electronically via e-filing. This is a faster way of both submitting your information and obtaining your tax return, if one is due. Though there is a minimal charge for e-filing, about 1.3 million Americans were eligible in 2002 for a free e-file. Be sure to check the end of this article for more information.
If you're going to submit your paperwork via "snail mail," you can download the forms from the IRS website, or you can pick up a copy at public libraries or U.S. post offices. Before submitting your information to the IRS, you'll want to pay attention to the details. Check your math, especially your subtraction. Make certain you pulled in the correct amount from the tax table. Lastly, verify identification numbers, like your social security number, and sign the form.

Should you have any questions along the way, don't just guess! Make use of the free assistance offered by the IRS. And, if you find that you aren't going to meet the April 15th deadline, you can file for an extension, though interest will accrue on any money you owe.

If this is the first time you've filed your taxes on your own, there's no need to be afraid. Just stay organized, stick to the details and, when in doubt, call the IRS. The sooner you file your taxes, the sooner you can let go of your worry and begin thinking about how you're going to spend your tax return!

For your information:
IRS E-file Information: Visit the IRS website at www.irs.gov.
IRS Assistance: Call toll free 1-800-829-1040, 7:00 a.m. to 10:00 p.m., Monday through Friday.
IRS Extension: Call toll free 1-888-796-1074 for more information.