Whether you are fervently rounding up your trusted accountant or shuffling through all of your documents in order to meet that looming April 15th deadline, taxes can be a stressful time for anyone. Perhaps some of these findings will allow you to feel a little bit better about filing, however, and recognize that in the long run, these pay off - literally.
According to IRS data, 8 out of 10 U.S. tax filers will receive a federal refund. While it may take some time to get everything together, input the correct information and possibly find the right person for the job, the investment should hopefully (and usually) lead to a return.
Not only is the chance of a return high, but it doesn’t hurt the weight of your wallet either. The average amount paid to tax filers over the past few years was roughly $2,800.
If you’re new to filing taxes and are unsure about doing it by yourself or outsourcing to a professional person or practice, it seems that the majority goes through an online service, as more than 27 million taxpayers file their tax returns from home computers.
Still dreading filing your taxes or having anxiety about what follows? For the person who earns anywhere between $25,000 and $100,00 per year, the chances of being audited are less than 1%. That does not, of course, leave room to do your taxes carelessly or without precision, but it should provide a larger incentive for getting it done rather than getting punished for being late.
There are still a few days left, but make sure you stay organized to get everything in on time. When it comes to items that you only use a few times a year (i.e., tax forms, passports and more), TrackR can help keep your items easy to locate!