Five Tips To Save Time And Money This Tax Season
North American Precis Syndicate
"You can get your tax refund even faster when you use direct deposit," advises financial expert. (NAPS)
(NAPSI)—Taxes are inevitable, but there are many smart ways to save
time and money throughout the process. Marsha Barnes, a certified financial
social worker, financial educator and certified credit report reviewer, helps
identify five important tips to consider:
1. Get organized. Gather all
the documents you’ll need ahead of time, including W-2s, 1099s,
mortgage interest statements, charitable contributions, and paperwork
relating to any stocks, funds or properties you bought or sold in 2017. Get
out last year’s returns, which can serve as a guide. Schedule an
appointment with a tax professional or compare the do-it-yourself software
you’ll need to complete your tax returns on your own. You can also find
checklists online, such as the one at GreenDot.com/taxfast.
2. Find out which tax breaks apply
to you. Has your living or work situation changed? The number of people
you support? Did you get married or have children? Even if nothing has
changed in your life, you may have missed credits in the past that
you’re entitled to. For example, according to the IRS, one out of every
five eligible workers fails to claim the Earned Income Tax Credit. If you
find out you qualify for the EITC this year and didn’t claim it in the
past, you can even file amended returns for 2014, 2015 or 2016 taxes. Make
sure you take advantage of the deductions that apply to you. The IRS provides
a wealth of this type of information online at irs.gov.
3. Use direct deposit. For the
fastest and most secure delivery of your tax refund, ditch the paper check.
Opt to have your refund directly deposited into your bank account.
Don’t have a bank account or don’t want to use your primary bank
“A smart choice is to get your tax refunds deposited onto a prepaid
debit card, such as a Green Dot Prepaid Visa card or a Walmart
MoneyCard,” says Barnes. “These prepaid debit cards are
convenient tools to manage everyday finances and direct deposit is free,
secure, eliminates the need to pay for check cashing services, and the money
arrives faster than a paper check. Green Dot prepaid cards are FDIC-insured
bank account alternatives that you can use everywhere MasterCard or Visa
debit are accepted and your money is protected if your card gets lost or
These cards can be ordered online at GreenDot.com/taxfast
or found at a nearby retailer such as Walmart, Walgreens, CVS/pharmacy, Rite
Aid, Dollar Tree, Family Dollar or Kmart.
4. File early and electronically.
E-filing is the easiest and fastest way to file your taxes, and you’ll
get your refund faster than if you file a paper return, especially if
combined with direct deposit. Tax Day 2018 is April 17th this
year, two days later than normal, but don’t try to take advantage of
that. Filing early will not only help you get your refund faster, it may also
help you avoid tax-related identity theft since you will already have filed
using your own Social Security Number before someone else tried to.
5. Look for tax season sales and
promotions. “Both the full-service tax prep companies and the DIY
websites are competing for your business, so shop around to find the best
deal for what you need,” suggests Barnes. “You may even be able
to win money when you file your taxes.”
Enter to win the Green Dot Tax-Time Giveaway with 4,000 prizes totaling over
$75,000. You’ll earn five entries when you direct deposit your federal
tax refund to your Green Dot card. Just visit GreenDotTAXTIME.com to enter and for
“And since you were smart and filed early, you’ll be able to
take advantage of all the tax day freebies that companies promote while
others rush to beat the April 17th deadline,” adds Barnes.
can get your tax refund even faster when you direct deposit it onto a prepaid
debit card. Check out @GreenDotCards. http://bit.ly/2rz4xQT”
On the Net:North American Precis Syndicate, Inc.(NAPSI)