April 1, 2010

Tax Tips from Florida IRS Tax Expert for 33601

When you file your tax returns this year, the last thing you would want is for something to go wrong along the way. Making sure you have got everything done right is imperative. With that in mind, here are 5 tax tips from a top Florida tax attorney especially for Tampa residents 33601.

Firstly, do not put off filing your returns until the last minute. Procrastination more often than not will result in having to rush through filling up forms, making copies of important documents, looking for receipts etc. And all this inevitably causes human error in one way or other which may result in delays in obtaining refunds or having to pay more taxes.

Secondly, it is advisable for you to visit the IRS website at www.irs.gov. It is here where you can keep abreast with the latest developments on tax matters and more importantly, get instructions on what to do in making your tax returns. When you first login, I’d advise going to 1040 Central as this is the section that is relevant to most taxpayers. Last year over 296 million visits were recorded at the IRS website.

Thirdly, I would also encourage you to file your returns electronically. Not only does e-filing bring convenience to all but it also results in a lower error rate. Those who use e-filing and arrange for direct deposits have been known to receive their tax refunds in as quickly as 10 days. And you do not have to worry about whether your returns are safe. Over the last 20 years, more than 800 million tax returns have been made and processed safely through e-filing. This practice is getting more popular as more Americans file tax returns electronically than those who do not. Last year, 2 out of 3 taxpayers made e-filings.

You can file your tax returns electronically using tax software or by engaging the services of tax preparers. If your Adjusted Tax Income is $57,000 or less, you may opt for the Free File program by the IRS.

Fourthly, make sure you pay on time, even if you cannot afford to pay the full amount you are liable for. The April 15 tax deadline must be honored no matter what. You should try to pay at least 90% of your total tax due by the April deadline failing which you may be subjected to an Estimated Tax Penalty. If you are unable to pay at least 90%, just pay whatever you can afford but do so before April 15 to avoid being charged interest and penalties. You should also contact the IRS to arrange for an extension to the deadline.

Lastly, let me talk about how to get an extension in paying your taxes. If you need to discuss with the IRS to extend your deadline or arrange for a payment plan, do so at 1-800-829-1040. Usually, you can get an automatic 6 month extension till October 15. To obtain an extension, you need to file Form 4868 (obtainable from www.irs.gov), Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. You can also have the IRS mail Form 4868 to you by calling 800-TAX-FORM (800-829-3676).

Darrin T. Mish is a veteran, nationally recognized tax attorney who has focused on providing IRS help to taxpayers for over a decade. He regularly travels the country training other attorneys, CPAs and enrolled agents on how to handle their toughest cases with the IRS. He is highly ranked among the top attorneys in the country, with an AV rating from Martindale-Hubbell and a perfect 10 on Avvo.com. Martindale-Hubbell has also honored him with a listing in their Bar Register of Preeminent Lawyers. He is a member of the American Society of IRS Problem Solvers and the Tax Freedom Institute. With clients on every continent but Antarctica, he has what it takes to solve your IRS problems no matter where you live in the world. If you would like more information about his practice and how he can help you, please call his office at (813) 229-7100 or toll free at 1-888-GET-MISH.

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