April 17th: Final Day for Tax Preparation

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It’s that time of year again, and April 15th is two weeks away. Last minute tax payers are bombarding accounting firms with appointments for federal and state tax preparation. Some people, who still aren’t ready yet, are inquiring with IRS personnel on how to get an extension. CPA’s and accountants across the country are on the verge of having the greatest happy hour in history, anticipating the final form submission. The final days of tax season are upon us, but there is more time. This year April 15th falls on a Sunday, so the deadline is April 17th. That’s right; the government gave everyone an extra two days to file because April 16th is the legal holiday Emancipation Day in the District of Columbia.

At Monte Hewett Homes, we like to send out this friendly reminder to all local residents about the importance of filing yearly taxes. It is always better to get your taxes completed early, but with the daily juggling act that most families perform, sometimes doing your taxes is put on the back burner. Not to worry, there is still time. Plus Uncle Sam is willing to wait.

Tax Time

If you follow these tips, you may find procrastination a little less maddening as April 15th draws closer. Gather all of your tax information and keep it in a neat, easy to find folder. Documents such as W-2s and other income related forms should be accounted for. Next make a list of deductible expenses and check it twice. If you made charitable donations last year, write a list of your generous contributions. You should also make note of all investment income.

Homeowners have a little extra to remember. Don’t forget your mortgage information. As a homeowner, it is important to include mortgage interest, real estate taxes and other qualified itemized deductions. And what about money you can receive from the government? There are some tax credits available to first time home buyers. Don’t pass up a chance to have better tax return.

Let’s face it, no one is thrilled about doing their taxes, but staying ahead of the deadline is better than falling behind. Start your tax preparation early each year and have more springtime fun.

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