Every American is required to pay taxes. Although it might not seem fair, without income taxes, we wouldn’t have good roads, public water treatment systems, schools, or so many other things we take for granted. Here are a few tips you can benefit from when it comes time for tax preparation in Manhattan.
Save All Your Receipts
The Internal Revenue Service (IRS) realizes life is expensive. Although they don’t have the best reputation among Americans, the IRS allows tax filers like you to deduct certain expenses, such as charitable contributions and medical expenses. While you can deduct things without showing proof for them, if you get audited, you might be in trouble. Save all your receipts to back up your claims in the event of an audit.
You can file taxes online with the IRS. Simply log on to their website and send in your completed return. It’s more secure, you’ll be sure they received it, and the IRS even offers a tracking tool to see whether your return has been accepted and processed or not.
Always File on Time
Even if you can’t afford to pay the income taxes you owe on time, always file your return before it’s due. If not, you’ll likely be responsible for extra fees. The IRS offers somewhat-flexible payment plans.
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