Summary
The IRS has shared six tips to help taxpayers prepare for the upcoming tax filing season. These actions can help people avoid penalties, handle outstanding tax issues better, and ensure smooth tax filing. Taxpayers are encouraged to act early, even if they can't pay the full amount they owe.
Key Facts
- The IRS advises taxpayers to start preparing their returns by gathering records and ensuring all income and deductions are reported correctly.
- Filing taxes early is recommended, even for those who cannot pay the full amount, as it can help reduce penalties and access payment options.
- Paying as much of the owed taxes as possible by the deadline can help reduce penalties and interest.
- Taxpayers who need more time to pay can apply for a payment plan, which allows them to manage payments over time.
- Responding quickly to any IRS notices can help avoid additional penalties or delays.
- The IRS offers online tools to help taxpayers manage their accounts, check refund status, and make payments without needing to visit an office.
- People aged 65 and older are encouraged to file taxes to benefit from enhanced tax deductions, even if not required by law.
