Tax season is underway in the U.S. Filing taxes can be a daunting task that’s often left until the last minute
NEW YORK — It's tax season in the U.S., and for many people, filing tax returns can be a daunting task that’s often left until the last minute. But if you want to avoid the stress of the looming deadline, start getting organized as soon as possible.
Whether you do your taxes yourself, go to a tax clinic or hire a professional, navigating the tax system can be complicated and stressful. Courtney Alev, a consumer financial advocate for Credit Karma, recommends you go easy on yourself.
“Take a breath. Take some time, set out an hour, or go through it over the weekend. You’ll hopefully see that it’s a lot simpler than you think,” Alev said.
If you find the process too confusing, there are plenty of free resources to help you get through it.
Here are some things you need to know:
WHEN IS THE DEADLINE TO FILE TAXES?
Taxpayers have until April 15 to submit their returns from 2023.
WHAT DO I NEED TO FILE MY TAX RETURN?
While the required documents might depend on your individual case, here is a general list of what everyone needs:
—Social Security number
—W-2 forms, if you are employed
—1099-G, if you are unemployed
—1099 forms, if you are self-employed
—Savings and investment records
—Any eligible deduction, such as educational expenses, medical bills, charitable donations, etc.
—Tax credits, such as child tax credit, retirement savings contributions credit, etc.
To find a more detailed document list, visit the IRS website.
Tom O’Saben, director of tax content and government relations at the National Association of Tax Professionals, recommends gathering all of your documents in one place before you start your tax
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