{"id":62344,"date":"2024-01-30T19:18:04","date_gmt":"2024-01-31T03:18:04","guid":{"rendered":"https:\/\/lapost.us\/?p=62344"},"modified":"2024-01-30T19:18:04","modified_gmt":"2024-01-31T03:18:04","slug":"things-to-remember-when-filing-2023-tax-returns","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=62344","title":{"rendered":"Things to remember when filing 2023 tax returns"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">IR-2024-28, Jan. 30, 2024<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">WASHINGTON \u2014The Internal Revenue Service today offered a checklist to help taxpayers as they prepare to file their 2023 tax returns during filing season.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These six easy tips will help make tax preparation smoother in 2024. Much of this information is also available on a special IRS.gov <\/span><a href=\"https:\/\/www.irs.gov\/help\/let-us-help-you\"><span style=\"font-weight: 400;\">free help<\/span><\/a><span style=\"font-weight: 400;\"> page:\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Gather all necessary tax paperwork and records for accuracy to avoid missing a <\/b><a href=\"https:\/\/www.irs.gov\/credits-and-deductions\"><b>deduction or credit<\/b><\/a><b>. <\/b><span style=\"font-weight: 400;\">Taxpayers should have all their <\/span><a href=\"https:\/\/www.irs.gov\/individuals\/get-ready-to-file-your-taxes\"><span style=\"font-weight: 400;\">important and necessary documents<\/span><\/a><span style=\"font-weight: 400;\"> before preparing their return. This will help file a complete and accurate tax return. <\/span><a href=\"https:\/\/www.irs.gov\/taxtopics\/tc303\"><span style=\"font-weight: 400;\">Errors and omissions<\/span><\/a><span style=\"font-weight: 400;\"> slow down tax processing, including refund times.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Before beginning, taxpayers should have:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Social Security numbers for everyone listed on the tax return.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bank account and routing numbers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Various tax forms such as W-2s, 1099s, 1098s and other income documents or records of <\/span><a href=\"https:\/\/www.irs.gov\/businesses\/small-businesses-self-employed\/digital-assets\"><span style=\"font-weight: 400;\">digital asset<\/span><\/a><span style=\"font-weight: 400;\"> transactions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Form 1095-A, Health Insurance Marketplace statement.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Any IRS letters citing an amount received for a certain tax deduction or credit.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Remember to report all types of income on the tax return. <\/b><span style=\"font-weight: 400;\">This is important to avoid receiving a notice or a bill from the IRS. Don\u2019t forget to include income from:<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Goods created and sold on online platforms.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Investment income.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Part-time or seasonal work.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Self-employment or other business activities.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Services provided through mobile apps.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Filing electronically with <\/b><a href=\"https:\/\/www.irs.gov\/refunds\/get-your-refund-faster-tell-irs-to-direct-deposit-your-refund-to-one-two-or-three-accounts\"><b>direct deposit<\/b><\/a> <b>is the fastest way to receive a refund<\/b><b>. <\/b><span style=\"font-weight: 400;\">Avoid paper returns. Tax software helps individuals avoid mistakes by doing the math. It guides people through each section of their tax return using a question-and-answer format.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">For those waiting on their 2022 tax return to be processed, here&#8217;s a special tip to ensure their 2023 tax return is accepted by the IRS for processing. Make sure to enter $0 (zero dollars) for last year&#8217;s adjusted gross income (AGI) on the 2023 tax return. Everyone else should enter their prior year&#8217;s AGI from last year&#8217;s return.\u00a0<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Free resources are available to help eligible taxpayers file online. Free help may also be available to qualified taxpayers. <\/b><a href=\"https:\/\/www.irs.gov\/filing\/free-file-do-your-federal-taxes-for-free\"><span style=\"font-weight: 400;\">IRS Free File<\/span><\/a><span style=\"font-weight: 400;\"> provides a free online alternative to filing a paper tax return. IRS Free File is available to any individual or family who earned $79,000 or less in 2023.\u00a0<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">With IRS Free File, leading tax software providers make their online products available for free as part of a 21-year partnership with the IRS. This year, there are eight products in English and one in Spanish. Taxpayers must access <\/span><a href=\"https:\/\/apps.irs.gov\/app\/freeFile\"><span style=\"font-weight: 400;\">these products<\/span><\/a><span style=\"font-weight: 400;\"> through the IRS website.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">People who make over $79,000 can use the IRS&#8217; <\/span><a href=\"https:\/\/www.irs.gov\/e-file-providers\/free-file-fillable-forms\"><span style=\"font-weight: 400;\">Free File Fillable Forms<\/span><\/a><span style=\"font-weight: 400;\">. These are the electronic version of IRS paper forms. This product is best for people who are comfortable preparing their own taxes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Qualified taxpayers can also find free one-on-one tax preparation help around the nation through the <\/span><a href=\"https:\/\/www.irs.gov\/individuals\/free-tax-return-preparation-for-qualifying-taxpayers\"><span style=\"font-weight: 400;\">Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Consider which filing option to use; each one has its own benefits<\/b><span style=\"font-weight: 400;\">. Taxpayers should decide based on their personal situation and comfort level with tax preparation.<\/span><\/li>\n<\/ol>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Personally file taxes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use online filing services.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Hire a tax professional. Choose a tax professional carefully. Most tax return preparers are professional, honest and provide excellent service to their clients. However, dishonest tax return preparers who file false income tax returns do exist. The IRS has a <\/span><a href=\"https:\/\/irs.treasury.gov\/rpo\/rpo.jsf\"><span style=\"font-weight: 400;\">Directory of Federal Tax Return Preparers with Credentials and Select Qualifications<\/span><\/a><span style=\"font-weight: 400;\"> and more on <\/span><a href=\"https:\/\/www.irs.gov\/tax-professionals\/choosing-a-tax-professional\"><span style=\"font-weight: 400;\">choosing a tax pro<\/span><\/a><span style=\"font-weight: 400;\"> on IRS.gov.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Don\u2019t wait on hold when calling the IRS. <\/b><span style=\"font-weight: 400;\">Use online resources at <\/span><span style=\"font-weight: 400;\">IRS.gov to <\/span><a href=\"https:\/\/www.irs.gov\/help\/tax-law-questions\"><span style=\"font-weight: 400;\">get answers to tax questions<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.irs.gov\/refunds\"><span style=\"font-weight: 400;\">check a refund status<\/span><\/a><span style=\"font-weight: 400;\"> or <\/span><a href=\"https:\/\/www.irs.gov\/payments\"><span style=\"font-weight: 400;\">pay taxes<\/span><\/a><span style=\"font-weight: 400;\">. There\u2019s no wait time or appointment needed \u2014 <\/span><a href=\"https:\/\/www.irs.gov\/help\/tools\"><span style=\"font-weight: 400;\">online tools<\/span><\/a><span style=\"font-weight: 400;\"> and resources are available 24 hours a day. The IRS\u2019 <\/span><a href=\"https:\/\/www.irs.gov\/help\/ita\"><span style=\"font-weight: 400;\">Interactive Tax Assistant tool<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.irs.gov\/help\/let-us-help-you\"><span style=\"font-weight: 400;\">Let Us Help You<\/span><\/a><span style=\"font-weight: 400;\"> resources are especially helpful. <\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<\/ol>\n<p><b>Stay updated<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, the IRS suggests taxpayers stay up to date on important tax information online by:\u00a0<\/span><\/p>\n<p><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">Following the <\/span><a href=\"https:\/\/www.irs.gov\/newsroom\/irs-social-media\"><span style=\"font-weight: 400;\">IRS\u2019 official social media accounts<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.irs.gov\/newsroom\/e-news-subscriptions\"><span style=\"font-weight: 400;\">email subscription lists<\/span><\/a><span style=\"font-weight: 400;\"> to stay current on the latest tax topics and alerts.\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Downloading the <\/span><a href=\"https:\/\/www.irs.gov\/newsroom\/irs2goapp\"><span style=\"font-weight: 400;\">IRS2Go mobile app<\/span><\/a><span style=\"font-weight: 400;\">, watching <\/span><a href=\"https:\/\/youtube.com\/user\/irsvideos\"><span style=\"font-weight: 400;\">IRS YouTube videos<\/span><\/a><span style=\"font-weight: 400;\"> or following the IRS on X, Facebook, LinkedIn and Instagram for the latest updates on tax changes, scam alerts, initiatives, products and services.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>IR-2024-28, Jan. 30, 2024 &nbsp; WASHINGTON&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-62344","post","type-post","status-publish","format-standard","hentry","category-u-s-a"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/62344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62344"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/62344\/revisions"}],"predecessor-version":[{"id":62345,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/62344\/revisions\/62345"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}