Whether it’s your first time to file taxes or you’ve been filing for years, this question always seems to come up: When are taxes due? Taxes are normally due on April 15 of each year, but sometimes the deadline is changed if the date falls on a weekend or a holiday.
If you’re planning ahead, you can be confident that your 2013 taxes will be due on Tuesday April 15, 2014. If you need an extension, you can request one, but make sure you do so before the tax deadline or else you’ll be penalized.
If you’re expecting a tax return, you probably want to file as quickly as possible. The good news is that you can file your taxes online in early January each year. While the IRS may not accept your return right away, many online tax filing companies like TurboTax will allow you to get everything ready to file as soon as possible.
What Do I Need To File My Taxes Online?
Filing your taxes online or by paper requires you to have a few things ready.
Make sure you’ve received all your income documents, including your W-2 form, 1099’s, 1099-INT, 1099-R, K-1, rental property income, and any self employment earnings.
If you made any deductible purchases in the tax year, you’ll need those documents. Common items include: HUD-1 form, 1098-E (tuition), health expense receipts, mortgage interest paid, and charitable giving receipts.
Choose an Online Tax Filing Service
Sure, you could sift through actual paper forms, but using an online tax program like TurboTax will make your life so much easier. In fact, when you file your taxes online with TurboTax, they walk you through each step so that you don’t forget anything along the way. The best thing is that you can file your federal taxes with TurboTax for free! We’ve used TurboTax for 8 years and wouldn’t use anything else.
It’s never too early to start getting organized for tax season. If you haven’t started yet, do so by putting together a folder for this year’s taxes. Make one for income and one for expenses. Then keep track of your receipts or earned income throughout the year. It doesn’t need to be fancy – it just needs to be! If you do want to get fancy, check out our review on Quicken Essentials for Mac!
How do you prepare for taxes each year? Leave your tips in the comments!