• FILE Electronically – Consider filing electronically instead of using paper tax forms. If you file electronically and choose direct deposit, you will receive your refund faster.
2. Check social security numbers – Make sure that SS numbers are correct for you, your spouse, and children. If you e-file, names used for your returns must match exact names that appear in your SS cards. Errors can delay or reduce your earned income credits and your tax refunds.
• Double-Check Your Figures – If you are filing the old style paper return, you should double-check that you have correctly figured the refund or balance due.
• Check Tax Tables – If you are filing a paper return, you should double-check that you have used the right figure from the tax table.
• Sign your form – Taxpayers must sign and date paper-filed returns. Both spouses must sign a joint return, even if only one had income. Anyone paid to prepare a return must also sign it.
• Use the coded envelope included with your tax package to mail your return. If you did not receive an envelope, check the section called “Where Do You File?” in the tax instruction booklet.
• Make your check payable to “United States Treasury.” Enclose Payment Voucher Form 1040-V.
• Write year and form (20XX 1040) in the memo section of your check.
• Write your SS number at the top of your check, preferable with a red pen.
• File an extension through 10/15, the last and only extension (the 8/15 extension is gone) if you cannot file by the 4/15 deadline.
• Don’t miss next year’s estimated tax payments – If you file in October, you would have missed estimated tax vouchers for 4/15, 6/15, and 9/15. This means penalties for late payment. In other words, start paying estimates for the current year in April, June, or September, even if you have not filed your return.
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Victor Santos Sy graduated Cum Laude from UE with a BBA and from Indiana State University with an MBA. Vic worked with SyCip, Gorres, Velayo (SGV – Andersen Consulting) and Ernst & Young before establishing Sy Accountancy Corporation in Pasadena, California.
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He has 50 years of experience in defending taxpayers audited by the IRS, FTB, EDD, BOE and other governmental agencies. He is publishing a book on his expertise – “HOW TO AVOID OR SURVIVE IRS AUDITS.” Our readers may inquire about the book or email tax questions at [email protected].