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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‚ÄĒhow 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.


Getting Taxes Under Control

Taxes can be a very difficult thing to deal with. There are a lot of people that have a hard time understanding how they can successfully file their taxes without running into problems. When you are nervous about your taxes or when you do not know what your status is with the Internal Revenue Services, you should consult a tax professional. Working with a tax professional can help you understand how you are going to get yourself onto safe ground with the IRS. Sometimes, you are not able to do this on your own and you absolutely need the help of a tax professional.

When you talk with one of Check City’s tax professionals, you will be able to sort out any of your tax problems. As you are talking with a licensed tax professional you will be able to understand what is going on with your finances and what you need to do to file your taxes properly. As you work with a tax professional, you will also have your taxes prepared and e-filed. This means that you are going to need to have the proper paper work with you when you meet one of the tax professionals.

You should also make sure that you know how you are going to save money and get the refunds back quickly. A tax professional will know the ins and outs of tax laws and requirements. This way, you will be able to get the most money that you can back from your refund. You will also be able to ensure that you save the money on your taxes.

During tax season, you do not even need an appointment. Simply stop by a Check City today to ensure that you are able to get your tax situation taken care of quickly. Then, you can rest easier and know that your finances are under control.

Filing for a Return

If you are looking for a bit of extra money, filing for a return on your taxes may be something you may want to consider. This process is quick and easy to do, and it can easily get you back a sizable amount of cash.

Filing for a return is what you do if there is an excess of taxes paid for your bracket, along with a host of other factors, you may want to talk to an expert if you are unsure of whether you will qualify for a return. You can visit your nearest Check City location in order to access some of our financial services to help. If you think you might be qualified to get a return, use of tax preparation services in order to be sure. Our in house experts should be able to aid you in the process and give you the best overview of what you will qualify for.

If you do qualify for a return, then the government can send you a check which gives you back some of the funds which you have paid over the year. The money is yours to sped as you will. In a lot of ways, getting a return is like getting a mid year bonus, which can help you to take care of whatever financial situations you are looking at.

This is especially helpful for those who have been working and are in a situation where they do not meet the limit for filing, and would benefit greatly from getting a return. Given how much is taken out for taxes from each paycheck, the money you can get back truly will make a difference.

Come visit any Check City location to let us help you with your taxes. Our financial experts should be able to give you individualized attention, so you know the best approach to personally take.

Getting Your Taxes Filed On Time

If you have not filed your taxes you may be well aware that April 15th is looming awfully close.  When you do not file your taxes on time, you may find that you are going to have to pay excessive late fees or other types of fees that you cannot afford.  Make sure that you are taking the time that you need to file your taxes and be done with the process.

 

As you sit down to do your taxes, you may find that you are overwhelmed. When the paperwork does not make sense, you do not know what is being asked of you or even when you know you just won’t have time to file your taxes seek professional help.  Come into any one of your convenient Check City locations and set up an appointment to file your taxes.

 

A Check City employee will explain what paperwork you will need to bring in and you can come back for your appointment. When you come back for your appointment, you will be able to work with a professional representative that can help you work through any questions or concerns you may have about your tax situation.

 

Filing your taxes does not have to be confusing or even stressful.  When you have a professional working with you and acting as your advocate, you can be sure that your taxes are going to be filed quickly and in a manner that will benefit you.

 

After you have filed your taxes, make sure that you keep the important paperwork from the process.  This way, if there are ever any questions about the taxes that you filed, you will be able to reference the paperwork that you have to answer questions or solve any problems.  Keep your tax information in a safe and secure place to ensure that you will have it whenever you should need it.

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.

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