How to maximize the value and timeliness of your tax return
Research shows that if you’re dreading tax season, you’re not alone.
According to the Pew Research Center, 47% of Americans say they are bothered a lot by the complexity of the federal tax system. Other taxpayers stress out over getting the details right. In a Credello survey, 22% of respondents say not maximizing their refund is their biggest fear around doing taxes, while another 22% said their biggest fear is making a mistake.
“Many Americans rely on their tax refund to make ends meet. Accessing those funds should be fast and easy,” says Chad Prashad, president and CEO of World Finance.
To help you get a handle on your taxes, World Finance is drawing on its 26 years of filing expertise to offer these timely tips:
— Get ready early. As soon as your employer provides your W2, you can file your taxes. Having all other documentation and receipts ready to go will help expedite the process, which means you will get your tax return faster, too. Collect the necessary materials in one place before filing.
— Consider significant life changes. Did you move in 2022? Have a baby? Get married? Change jobs? Each of these monumental life events can have an impact on your taxes, so be sure to disclose these factors when filing or to the professional filing on your behalf.
— Know what’s new. Visit IRS.gov to learn about any changes to tax filings that are applicable to you. A tax services professional can also help you identify relevant updates. World Finance tax pros have year-round training to stay on top of the latest tax filing requirements and are ready to tailor tax services to each tax customer’s financial situation.
— Review and adjust. Once you know what your return is going to be this year, make any necessary adjustments to your W2 to make sure you’re withholding enough during the year. If this is your first year working with a professional tax service, have them review your previous years’ filings as well. You may be able to recover additional refunds if anything was missed. World Finance offers this service for no additional charge.
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