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Friday 14 april 2023

Haven’t filed taxes yet? Don’t panic.

Here’s what to know

By ADRIANA MORGA
Associated Press
NEW YORK (AP) — The
deadline to file your taxes
is Tuesday, which is just
around the corner. Filing
U.S. tax returns especially
for the first time can seem
like a daunting task, but
there are steps you can
take to make it less stress-
ful.
Whether you do your taxes
yourself, go to a tax clin-
ic or hire a professional,
navigating the tax system The likeness of Benjamin Franklin is seen on a U.S. $100 bill,
can be complicated and Wednesday, Feb. 22, 2023, in Marple Township, Pa.
stressful. Courtney Alev, a Associated Press
consumer financial advo-
cate for Credit Karma, rec- ployed ers create an identity pro-
ommends you go easy on 1099-G, if you are unem- tection PIN number with
yourself. ployed the IRS to guard against
“Take a breath. Take some 1099 forms, if you are self- identity theft. Once you
time, set out an hour, or go employed create a number, the IRS
through it over the week- Savings and investment re- will require it to file your tax
end. You’ll hopefully see cords return.
that it’s a lot simpler than Any eligible deduction, HOW DO I FILE MY TAXES?
you think,” Alev said. such as educational ex- You can either file your tax-
If you find the process too penses, medical bills, chari- es online or on paper. How-
confusing, there are plenty table donations, etc. ever, there is a big time dif-
of free resources to help Tax credits, such as child ference between the two
you get through it. tax credit, retirement sav- options. Paper filing can
If you are worried that you ings contributions credit, take up to six months for
might not have enough etc. the IRS to process, while
time to file your taxes be- To find a more detailed electronic filing cuts it
fore the deadline, you document list, visit the IRS down to three weeks.
can file for an extension, website. WHAT RESOURCES ARE OUT
though it’s not ideal (more Tom O’Saben, director of THERE?
on that below.) tax content and govern- For those who make
Here’s what you need to ment relations at the Na- $73,000 or less per year, the
know: tional Association of Tax IRS offers free guided tax
WHEN IS THE DEADLINE TO Professionals, recommends preparation that does the
FILE TAXES? gathering all of your docu- math for you. If you have
Taxpayers have until Tues- ments in one place be- questions while working
day to submit their returns fore you start your tax re- on your tax forms, the IRS
from 2022. turn and also having your also offers an interactive
WHAT DO I NEED TO FILE MY documents from last year if tax assistant tool that can
TAX RETURN? your financial situation has provide answers based on
While the required docu- drastically changed. your information.
ments might depend on Theresa Grover, site coordi- Beyond the popular com-
your individual case, here nator for the Volunteer In- panies such as TurboTax
is a general list of what ev- come Tax Assistance (VITA) and H&R Block, taxpayers
eryone needs: program at Northeast Wis- can also hire licensed pro-
Social Security number consin Technical College, fessionals, such as certified
W-2 forms, if you are em-
also recommends taxpay- public accountants. The
IRS offers a directory of tax
preparers across the United
States. The IRS also funds
two types of programs that
offer free tax help: VITA
and the Tax Counseling for
the Elderly program (TCE).
People who earn $60,000
or less a year, have disabili-
ties or are limited English
speakers, qualify for the
VITA program. q