If you tried filing your taxes this year,
there are a few tips that can make it a
little less painful.
Here's what we know now.
What if you're filing for the first time.
If you're filing for the first time,
you should probably have an idea of where your income
will be.
You can do an estimate using one of the IRS
tax forms.
If you have pretty simple taxes,
you know you have AW Two from your workplace.
You don't have a ton of deductions,
and things are pretty easy if you have a little
bit more complicated taxes,
like you own a home,
you bought or sold a house during the year,
or you got married or had a child.
Those are some big life events you might want to
consider itemizing,
which could be a little bit more complicated.
So be prepared to get all of your paperwork in
front of you before you start.
What should you know about the child tax credit and
how has it changed from last year,
or if you're a first time parent?
If you're a first time parent and you had a
baby during the year the calendar year 2023 you are
eligible for,
you might be eligible for the tax credit even if
you have a baby on December 31st,
2023. That you you can still take a deduction for
your child.
What if you're going to miss the deadline?
If you think that you can't file your taxes on
time,
which is in April, you can always file for an
extension.
That extension is an extension to file your taxes.
This is very important to file your taxes,
but not an extension for you to pay.
So if you do file for the extension,
you will have until October to file your taxes.
But what you need to do is you need to
go and take one of these IRS estimated.
Estimating worksheets and figure out what you might owe and
write a check by that initial April deadline.
Or else you if you end up owing something in
October,
you will have to pay interest on that.