The tax season is upon us. Yes, tax preparation time. By now you should have received all kinds of fun forms such as your W-2’s,W-2, W-2G, 1099-R, donation receipts, interest and dividend statements, tax credits/exclusions,etc…
And if you’re anything like me in regards to a pile of cryptic paperwork, you will then proceed with the following steps:
1) Stare at it – try to make it disappear at will.
2) Blink very rapidly with the hopes that the next time you flutter your eyes, the entire pile will have magically organized and completed itself.
3) Wait for a phone call from an imaginary third cousin who you expect will say they’ve just graduated with an advanced Mathematics degree – and would just love to do your taxes – for free – in their spare time.
Unfortunately, all of the above methods have been tested – and failed. However, one big thing I have learned (especially if you tend to be a little scatterbrain like me) – is to make sure to gather all forms together – and into ONE accessible PILE !
Ok, so you don’t have a ‘family accountant’. Your friends are employed in various fields that don’t include working for the IRS. What is a person to do? There are a few options, but the main two seem to be: You get your taxes done by a firm like H&R Block, or you prepare them yourselves online by using software like TurboTax.
Now, TurboTax has had some issues this year due to fraud. This WSJ article more than a little annoyed me. It shows that even though the fraud is due to multiple points of failure – the blame, prevention & resolution has totally been placed upon the shoulders of the consumer. Doesn’t really seem fair . I am sharing the article with you because it does have a lot of helpful information in it. http://www.wsj.com/articles/fraud-alert-what-turbotax-users-need-to-know-now-1423847170
Anyway, whichever method you do select in getting your taxes done should be fine – just make sure they are done by April 15th !!
Good luck everyone!!