- I do my own Federal taxes (1040A - ick. Well, it's not too hard, really). I'd rather have someone else do my state taxes as the form is much more difficult. Tax preparation in my area, by H&R Block, is $60 (Fed & State, e-file). (Ahem, Lily doesn't ~advertise~ any particular business!)
- I cannot stress enough: Get your taxes prepared by a professional if you aren't familiar with tax rules.
- Go to a reputable tax preparation company.
- Be aware that tax preparation companies sometimes offer a refund check on the spot if you are due one. BUT - they take a service fee or a percentage to do that. If you can wait, wait for your check from the IRS. Six to seven weeks is about the norm.
- AH HA! I can hear y'all now. -But LILYYYYY! I can't afford $60. I know. It's tough. That's why there is help out there. So don't be afraid to use it. I used to volunteer for this program, it is excellent.
VITA: http://www.irs.gov/individuals/article/0,,id=107626,00.html. - Please remember this - There is no longer a debtor's prison. Please do not stress out if you owe. The IRS will work out a payment plan. Don't be scared of them, they are there to help you, really.
- If you are a bit worried about the fraudulent people out there, here's a link to the scams the IRS keeps an eye on: http://www.irs.gov/newsroom/article/0,,id=98269,00.html. Again, please use their resources if you have questions.
IRS main website (up-to-date info): www.irs.gov
About.com Tax site (Excellent): http://taxes.about.com
Tax Preparers: http://taxes.about.com/od/findataxpreparer/.
IRS Help: http://www.irs.gov/contact/index.html.
Remember to breathe. Remember the mantra - Bipolar, not ignorant! And remember ... everyone - yes, everyone - has difficulties with taxes. They are not easy. Take it slow, do the research, and by all means, get help when you need it. Good luck, and keep the stress level low!
