Nov 072017

U.S.A. Douglas Myser

2017 Tax Planning should begin now, as time is running out on this year quickly. Before the Holidays get here, with additional things to do, and time constraints, take the time to begin your tax planning now. You won’t regret it. I little bit of preparation can go a long way in making sure you don’t need to consult a Tax Resolution Services Company due to a back tax debt.

If you have never considered tax planning, prior to doing your taxes in April, a great resource to use is the IRS “Take Steps Now for Tax Filing Season” page on the IRS website, located at IRS.GOV.  The first section deals with ITINs, which are tax id numbers for tax professionals, but just below that, you can find helpful information on obtaining your refund and the process you go thru, and ways to make it simpler and less confusing. Tax Planning for your refund can be a great way to speed up the process for obtaining your refund as well.

A section exists for figuring out your AGI, or Adjusted Gross Income. This section may give you useful information on deductions that you were not aware of, lowering the total amount you owe, or actually increasing the amount of your tax refund. Tax Planning can be profitable if it adds to the check you receive from the IRS ! This section also has a link called “Where’s my refund”  that can be used to figure out what is going on with your tax refund.

The next section is called Protecting Taxpayers and gives useful tips for avoiding identify theft in obtaining IRS self help tools. And last but not least, the IRS help section, which gives useful tips on getting questions answered at the IRS, and how to obtain specific information you may be looking for.

Remember, a little planning can go a long way in preventing you from incurring a tax debt and having to hire a Tax Resolution Services Company to get yourself back to square one.

  •  11/07