How to Reduce the Stress of Filing Taxes

The IRS offers the following tips to make this tax season stress free. And who knows taxes better than the IRS? (Reuters)

Don’t Procrastinate Resist the urge to put off your taxes until the last minute.  Along with creating unneeded stress, the rush to fill out the forms increases your risk of making a mistake.

Visit the IRS Website The IRS’s website hosts the latest tax news and information to help commonly-asked question from filers.

Use Free File Depending on your income, the  IRS offers various options to file tax returns for free electronically. Last year 79% of taxpayers used IRS e-file.  It can make the process easier and safer and if you combine it with direct deposit the IRS can often issue your refund in as little as ten days.

Don’t Panic if You Can’t Pay Even if you can’t pay the full amount of your tax bill, the IRS advises you to still file your return by April 17 and pay as much as you can to avoid penalties. The agency adds that 75% of taxpayers are eligible for an Installment Agreement.  

Request an Extension You can get a six month extension to file your taxes by Oct. 15, but you still must pay at least 90% of the total tax due by the April deadline or else you may face a tax penalty.