It’s tax time, and you are ready this year. You remember going through all the paperwork last year, and you have all your receipts in order. But, what’s this? They changed the form? Why? And how does it affect you? Don’t wait until the last minute to find out. Keeping up with updated tax news keeps you current, and it can help you save time and money. It might even help you avoid getting flagged, which could lead to an audit, costing you more of your valuable time.
One of the best places you can go to keep current with all the latest changes in the tax world is the International Revenue Service (IRS) website. It’s true that Congress changes laws, and the information is compiled in the IRS site. In 2009, United States parents were delighted to discover that the laws had changed, and they could now get a greater child tax credit. You can find out more information on tax changes by going to your state’s tax website. Every state has a different way of offering the information. Some state websites have downloadable PDF files while others dedicate a webpage on their website to tax changes.
If anyone has a full and busy life, it’s parents. Keeping up with work schedules, school schedules, and general maintenance is an enormous task. The last thing you might want to do is invest more of your precious time reading through blogs and wading through state and federal websites. Just keep in mind that it’s usually well worth your time in the long run. You can learn about educational deductions, tax breaks for adoptions, and even tax credits based on your adjusted gross income. You’ll even discover that filing online is now free to nearly everyone, which also saves you time and helps you receive your refund in a more timely manner.