The Bottom Line

Two months ago, this series began with the question, “Have you thought about your taxes?” Now, as we count down the hours to the midway point in April, also known as the dreaded April 15 deadline, I would hope that you, dear reader, have not only thought about your taxes but are also ready for your taxes.

So, here are the Taxpert’s five basic, last-minute tips on filing your tax return, after the jump.

1. Sign the form. Pretty basic, right? With the advent of Turbo Tax and PDFs, we can fill out the form on the computer and print it at home, but it’s amazing how easy it can be to forget to sign the hard copy since you can’t type your signature.

2. Check the mailing address. Depending on your state of permanent residence, the IRS office that you mail the return to varies, so check the IRS website.

3. Do NOT use a credit card to make your payment. According to the Wall Street Journal, you’ll get hit with the 2.49% convenience charge. With a normal merchant that accepts credit cards, like a grocer, the store pays the credit card convenience charge, but, in this case, the IRS would prefer to keep all their tax revenue and make you pay the fee.

4. Start early. Yes, it’s the day before the postmark is due, but you should always start early on your taxes. February and early March is a good time frame, since you’ll have received your W-2s and 1099s. If you are starting to hyperventilate now, fear not, the IRS has this wonderful thing called extensions that will allow you until October 15 to file. Too bad professors don’t give paper extensions for six months!

5. Check your math. Use a calculator and check the arithmetic before you send it off, you never know if you missed a digit somewhere. To be really fancy, I recommend using a spreadsheet with the line names in one column and amounts in another, where you can make Excel do your arithmetic.

Angela Hu Personal Finance, Taxes ask the taxpert, Taxes, tips