Get ready to file your 2023 Federal Income Tax Returns in early 2024!

Keeping your tax records organized makes it easier to prepare and submit an accurate tax return. Being prepared also helps to minimize errors that can delay the refund process. As your tax preparer, my aim is to find and use any eligible deductions or tax credits you may have. Most types of income are subject to taxes, including unemployment compensation, refund interest, and earnings from the gig economy and digital assets. Before filing your return, make sure to gather important income documents such as W2 forms, Forms 1099-MISC, and any other relevant paperwork. If you have a change of address, remember to notify both the IRS and your tax preparer. Additionally, it's important to inform the Social Security Administration promptly if you have legally changed your name.

Ensure the money taken out of your paychecks for taxes is enough to cover your tax obligations. The Tax Withholding Estimator on the IRS.gov site, helps people figure out how much tax should be taken from their paychecks. It's useful for those who need to adjust their withholding due to changes in their life or finances, like getting married, having a child, or taking on extra work. To update withholding, you can update your information with your employer online or fill out a new Form W-4. But to make adjustments in time to affect 2023 tax withholding, taxpayers need to act quickly. Only a few pay periods remain in the year, and payroll systems need time to make withholding changes.

Get your refund faster with direct deposit!

Using direct deposit is the quickest and safest method to receive a tax refund. Taxpayers can choose to deposit the funds directly into their bank account, banking app, or re-loadable debit card. You will need to provide your account and routing details. If you are unable to find this information, you should reach out to your bank, financial institution, or app provider. Those who opt for a paper check are more likely to experience issues such as non-receipt, forgery, theft, or checks being returned because of an incorrect address. In contrast, taxpayers who use direct deposit face fewer problems.