Chat
Customer Service: (800) 404-0254

The Beginner’s Guide to Filing Taxes

tax guide

Doing taxes might be one of the most procrastinated tasks we have to do each year.

But it doesn’t have to be that way.

With all the tax services available today you can get your taxes filed away with just a few clicks of a button. Some tax service places will even let you file your taxes early so you can get it done asap and cross that item off your to-do list right now. However you choose to do your taxes, there are a few things everyone should know about filing taxes.

How Do I File My Taxes?

It’s a common misconception that filing taxes is confusing and difficult to do. It really isn’t! Just follow these steps:

Step 1: Gather necessary documents

W-2 form.

You’ll get this from your place of work and it will have all the information you need on it—how much you got paid and how much you paid in taxes through your paychecks.

1099 form.

If you’re self-employed, a contracted employee, or a freelancer, then you’ll get a 1099 form from each of your employers instead. Since you aren’t receiving a taxed paycheck from an employer you may have to pay your taxes after filing since your taxes weren’t automatically paid throughout the year via taxed paychecks.

Step 2: Use these documents to file taxes

Give documents to a professional tax service.

The easiest way to get your taxes done is to simply submit these documents to a professional tax service. You can visit a financial store, like Check City, that offers tax services in person. Check City even offers Tax Advance Loans so you can get your refund sooner.

You can also use an online tax service to do it online. You may have to use your W-2 or 1099 forms to fill out some of the information. Using a tax professional or service will often come with some service fees.

File your taxes manually with the IRS.

You can also do it yourself by filling out a form called a 1040. Then you simply mail this form to the IRS. This route doesn’t have any service fees, besides postage, but it’s more effort on your part and takes more of your time.

Once you’ve finished filing taxes you’ll be able to see how much you owe or are owed. If you owe money you can mail it in to the IRS. If you are owed money then you can expect a check in the mail after the IRS is done processing your filed taxes.

When Do I File Taxes?

January.

You can file your taxes as soon as you receive the documents you need. These documents are your W-2 form from your employer or any 1099 forms you get from employers and contractors. You’ll usually receive these documents in January or you’ll need to request them.

This year the IRS will start accepting filed taxes on January 27th, 2020. Ideally, you’ll want to have everything ready to file by this date. That way if you are getting a tax refund, you can get your money as soon as possible.

When are Taxes Due?

April.

“National Tax Day” is usually on April 15th every year. But if the 15th of April falls on a weekend, then they’ll push it back to the 16th or 17th. This is when your taxes for the previous year are officially due to the federal government.

For example, taxes for 2019 need to be filed by Wednesday, April 15th, 2020.

When Do I Get My Tax Return?

up to 3 weeks.

When you get your tax return will depend on when and how you file your taxes. Since the IRS doesn’t start processing filed taxes until January 27th this year, you won’t receive your refund until after this date. You can check your refund status on the IRS’s website if you’re curious.

But generally, your tax refund can take up to 3 weeks to get to you after January 27th and after you’ve filed your taxes. It’s also always a good idea to keep a copy of your tax return for your own personal files.

If you want to get your tax refund quicker, you can do so by e-filing your tax return at Check City rather than mailing it in.

Why Do I Have to File Taxes?

To make sure you paid the correct amount in taxes the year before.

The main reason you have to file taxes at the beginning of each year is to make sure you paid the correct amount in taxes the previous year and didn’t over or underpay.

Income tax gets taken out of each paycheck throughout the year, but this amount isn’t always the amount you end up owing in taxes by the end of the year. By filing taxes at the start of the new year, you and the government will both know for certain whether you owe more in taxes or are owed the extra you ended up giving in taxes.

How much you pay in taxes is determined by your total income over the course of the year. How much you make will then place you in a certain tax bracket, and that percentage is how much you should have paid in taxes. But this percentage can’t be known for certain until after the year is done, that’s why taxes are always filed at the beginning of the following year.

Benefits to Filing Taxes
  • You can get a tax return if you ended up paying more in taxes then you needed to based on how much you ended up making over the year.
  • You can also end up getting tax deductions for certain things like giving to charity, nonprofits, medical expenses, or if you spend personal money on your job or business.
  • You can also get tax credits for things like education or paying for childcare so you can work.

And that’s all you need to know! See? Taxes can be a dream, not a nightmare. You can also check out the IRS’s website for any other information you may need.


Should You Be Filing a Tax Extension?

It’s April 15, 2013 and that means that the mad dash to midnight has begun. For the tens of thousands of Americans who have left their taxes until the last minute it’s decision time, do you try to rush and get your taxes done and risk the chance of missing out on hundreds or thousands of dollars in missed tax deductions or do you file an extension and possibly prolong the stress of tax season. Well regardless of which route you decide to go Check City Lighting Tax Services can help. Here are several of the ways that our Lightning Tax services can help you this season.

File an Extension- If April 15th snuck up on you this year and you haven’t even begun to think about doing your taxes then you’ll probably want to consider applying for a tax extension. If you need help with this you can stop by any of our Check City locations for help with filing a tax extension including help with filling out the tax extension form and putting together a plan to get your taxes done as quickly as possible. One thing to keep in mind with a tax extension is that just because you file a tax extension it doesn’t mean that you no long have to pay on taxes you owe. In a recent study it was found that almost half of Americans weren’t aware that they still had to pay taxes even though they had filed a tax extension.

Still Do Taxes- While it may seem like very last minute, if you have all of your information ready but you’re intimidated by all of the tax forms there is still time to stop by your local Check City location and get your taxes filed. By taking advantage of our Lighting Tax program you can also see if you qualify for one of our tax return loans so that you can get your money more quickly. Also, it’s important to point out that if you don’t actually owe any money to the government they are more lenient on the tax deadline.

Set Up Payment Plans- Many people have no idea that you can actually set up a payment plan with the IRS. More and more people are using this option ith as tough as the economy has been in recent years. If you find yourself in the situation where you know you owe money but won’t be able to pay it all off right away you can stop by one of our many Check City locations and have our knowledgeable tax professionals help you file a payment plan. The great thing about these payment plans is that you can outline what you feel is reasonable and what you can work into your budget , however, it is up to the IRS to accept or reject your proposed payment plan.

Short Term Loans- If you know that you’ll have the cash within a couple weeks to pay off your taxes but you just don’t have the money right now then we recommend utilizing one of our many services to help you get the cash to pay off your taxes right now. If you own your car one of the best options right now is to take advantage of our 30-Day Interest Free Title Loan. By taking advantage of this interest free title loan you’ll be able to pay off your taxes now and not have to pay an interest on the loan for 30 Days! If you don’t have a title in hand with any of your vehicles then another option would be to get a cash advance or payday loan. As always we recommend being responsible with these loans so if you don’t think you’ll have the money to pay them off within a few weeks then the tax payment plan may be a better option for you.

If you have any tax questions feel free to stop by your local Check City or leave them in the comment section below.

Tired of the Annual Tax Hassle?

It’s that time of year again… TAX TIME! This year instead of sifting through those shoe boxes full of receipts in your closet and trying make sense of stacks of tax forms, come down to your local Check City and see how simple taxes can be with Lighting Tax. With Lightning Tax one of our friendly, experienced tax professionals will guide you through the entire tax preparation process.

Our Licensed Tax Professionals Will:

  • Get your Taxes Prepared and e-Filed
  • Find out how to save money and accelerate the refunds process
  • Help you cash your tax refund check today for a low rate

Tell a Friend and Get Paid!

In addition to taking advantage of our Lightning Tax services yourself, you can also make money by referring your friends and family to Check City to get their taxes done!

How it Works:

  1. Refer a friend to Lightning Tax Services
  2. Your friend completes their taxes with Lightning Tax
  3. Your friend pays the tax preparation fee in full
  4. We will send you a prepaid Visa card loaded with $20.00*
  5. Your friend will recieve $10 off of their tax preparation fee

What else should I know?

  • You do not need to accompany you friend to the store when they complete their taxes
  • The friend you refer must be a first time Lighting tax customer and not from the same household as you
  • You do not need to be a Lighting Tax customer to refer a friend, but you do need to be a Check City customer
  • You can refer as many friends, acquaintances or family members as you want
  • Offer not valid with any other promotions

*certain fees apply with the use of prepaid Visa card

Staying Organized for Tax Season

As the time to file your taxes grows nearer and nearer, you should make sure that you file your taxes quickly.  Take time to file your taxes early so that you can be sure you can find the money that you need to pay the taxes that you owe.  If you do not owe any taxes, you will simply be able to get your tax return back faster.

 

When you are looking for someone to file your taxes, stop by Check City and take advantage of our tax services. You can be sure that you are going to be able to have your taxes filed quickly and properly.  If you come in for a tax services appointment you want to make sure that you have all of the proper paperwork for your tax services.

 

If you have already finished your taxes, you may want to start getting ready for next year’s tax season.  You can do this by getting all of your financial paperwork organized and sticking with the organization system that you have set up for your paperwork.

 

You want to make sure that you are putting any paperwork away quickly and in the right spot.  This way, you can be sure that you are going to have the paperwork that you need when you come in next year for your tax services appointment.

 

Each year you should take note of the most stressful part of filing your taxes.  Then, find a way to make sure that you are able to avoid those problems the next year.  Eventually, you will find that your taxes are a breeze and you are able to get them done quickly and confidently.

 

Your tax season does not have to be stressful. Just learn to be organized and prepared and you can be sure that you are able to enjoy the first few months of your new year.

NEED QUICK CASH?

start your application

* Required Field

 

  • HACKER SAFE certified sites prevent over 99.9% of hacker crime.
  • Cashwise
  • RLS
  • Check City BBB Business Review
  • UCLA

Apply Now Or Call 1-800-404-0254

Find A Location | Rates and Fees | Contact Us | Wireless Policy | Terms of Use | Privacy Policy | © 2004-2020 Check City Online. All Rights Reserved.