The season of taxes is almost upon us, and so are the common issues of confusion and messy paperwork. The situation doesn’t get any easier if you’re a first-time taxpayer or a young adult with very little exposure to the formalities involved in filing taxes. Don’t be worried; we’ve got five pieces of advice that you should be aware of to make the process a little easier.
Five things young adults should consider before filing taxes
- Tax accountants are extremely busy as the tax season approaches
Look, we all dread paperwork and want to put it off as much as possible. However, the earlier you start preparing your documents and figure out how to file your taxes, the better it will be for both you and your accountant. Most analysts find themselves too busy to tend to new requests, coming from people who have been procrastinating all this time.
Early preparation will not only help you avoid various issues related to documentation but also give your accountant more time to look over all the necessary details. In the end, the person who will benefit is you.
- Tax filing methods are continually evolving
You probably know that there is no single, correct way to prepare tax. Some people make use of tax preparation software while others like to do it with their good old hands. Of course, there are distinct pros and cons associated with various tax filing methods, and that is why you should spend a bit of time looking over the method that ought to be the best fit for you.
The IRS even offers Free File Software to those whose annual income is below $ 62,000 to make the process a bit more convenient.
- Identity theft is a very severe issue
With the continuous changing technology, the IRS is taking serious notice of identity theft related to tax filing. There have been multiple news reports in recent years about malicious individuals stealing people’s identities and filing false tax returns under those identities. Luckily, 2016 tax season should be should be better for people as new measures are expected to prevent a fiasco of these sorts.
- Expect to spend more time filing taxes
The IRS’s effort towards minimizing identity theft and fraud will undoubtedly make the entire process a bit more tedious. From more stringent passwords to special access only tax software, taxpayers will now be required to overcome certain hoops for the sake of personal safety. We can only wait and watch to see if these elements are able to detect identity theft.
If for any reason you miss out on filing taxes before the due date and is accused of tax fraud, make sure to get in touch with a reliable tax fraud lawyer.
- Expect “not so great” customer service
2015 was bad regarding customer service, so expect 2016 to be worse. Last year, out of approximately 83.2 million taxpayers contacted the IRS via Customer Account Services Number but only around 8.3 million got through to a live representative. And the average time one had to wait to talk to a person was 23 minutes!
The process of filing taxes may seem daunting to the uninitiated, but believe us when we say that it gets easier with time.