Tax season has arrived and is now in full swing around the United States. From now until the April 15 filing deadline, every citizen will be preparing their taxes for submission to the Internal Revenue Service (IRS), either paying in due monies from the preceding year or expecting a refund because of overpayment.

Whichever side of the fence you land on, there are numerous factors to consider when filing revolving around the timing of your submission. Each of these different aspects need to be taken into consideration while planning as it is important to remember those on the receiving end of the taxes are working as fast as they can to sort through millions of entries.

Paperwork Compilation

One of the first things to consider is gathering all of the necessary paperwork needed to file your taxes accurately. Tax form checklists can be beneficial tools which provide individuals an outline of the necessary documents in order to properly file your taxes. 

While a trained professional may assist in locating additional items that may benefit a taxpayer, these check sheets can help create a good starting point. Not only will the time you spend gathering information help yourself, but it can greatly benefit the individual responsible for filing.

Timing

The IRS will begin accepting tax returns on January 28, 2019 for this year. These will immediately begin to be processed and refunds distributed, in addition to accepting payments for taxes owed.

All returns must be filed by the April 15, 2019 deadline for most individuals and while there is no real benefit to filing early. The return time can be quicker at the start of the season than towards the end.

Patience

Another component to consider is the amount of paperwork and electronic filings that the IRS is dealing with over the 77 day time period. Reduced a bit due to the delay in accepting returns, the typical three month window has been significantly reduced this year. Exercising patience when expecting a return, in addition to working with tax preparers will benefit everyone involved in the process.

The experts at Bloch, Rothman, and Associates will be happy to help you file and keep you abreast of any refund situations, individual tax implications, or assist you in determining which deduction would be right in your situation and answer any questions regarding individual or business income taxes. We can also help with a variety of bookkeeping and other payroll options. It is recommended for those who are selected for an audit, that they enlist the services of a professional tax service before they begin engaging with the IRS auditor, especially before they submit any information.

Continuing further, associates at Bloch, Rothman can analyze and compile data for your unique tax situation, along with finding resolutions for your issues and estate complications. All services provided can and will be completed in a timely manner, and will account for any restrictions or tax deadlines. Whether you need a simple explanation on a random tax form, are in need of representation, or would like help in a variety of other services our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.