2023-01-25 19:05:33

Tax Season Already? Some Tips for Avoiding Stress and Scams

Logo U.S. News & World Report
U.S. News & World Report
By Associated Press

NEW YORK (AP) For many people filing U.S. tax returns especially those doing it for their first time it can be a daunting task that's often left to the last minute. But if you want to avoid the stress of the looming deadline, start getting organized as soon as possible.

Whether you do your taxes yourself, go to a tax clinic or hire a professional, navigating the tax system can be complicated and stressful. Courtney Alev, a consumer financial advocate for Credit Karma, recommends you go easy on yourself.

Take a breath. Take some time, set out an hour, or go through it over the weekend. Youll hopefully see that its a lot simpler than you think, Alev said.

If you find the process too confusing, there are plenty of free resources to help you get through it.

Here are some things you need to know:

WHEN IS THE DEADLINE TO FILE TAXES?

Taxpayers have until April 18 to submit their returns from 2022.

WHAT DO I NEED TO FILE MY TAX RETURN?

While the required documents might depend on your individual case, here is a general list of what everyone needs:

Social Security number

W-2 forms, if you are employed

1099-G, if you are unemployed

1099 forms, if you are self-employed

Savings and investment records

Any eligible deduction, such as educational expenses, medical bills, charitable donations, etc.

Continue read on usnews.com

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