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Sometimes a few
techniques can make even
the most arduous task a
little easier - like
doing your taxes.
While your best bet is
probably to have a
reliable tax preparer do
the chore for you, if you
plan to do it yourself a
few simple tips from the
firm of
Ernst & Young
may
make the task easier.
No
matter how you do your
taxes, remember to check
with a professional
before taking any
deductions or if you have
any questions.
 Last
Minute Tax Tips From the
Ernst & Young Tax Guide
2008
NEW YORK,
March 24
/PRNewswire/
-- With April 15th around
the corner, it is common
for last minute filers to
rush through their tax
forms, thereby increasing
their chances of making
unnecessary mistakes. If
you are expecting a
refund, it's these types
of errors that may cause
delays in getting your
money back from the
government.
The good news is there
are resources available
to help you stay on track
when filling out your tax
forms. The Ernst & Young
Tax Guide 2008 provides
helpful tips to assist
you in avoiding some of
the most common filing
errors, such as:
1. Always check
your math.
2. Include your
Social Security number on
each page of the return
so if a page is misplaced
by the IRS, it can be
reattached to the correct
area.
3. Notate on your
return Social Security
numbers for all
dependents, including
those born during 2007.
4. If you are
married, check to see if
filing separate returns
rather than a joint
return is more
beneficial.
5. Attach all
copies B of your W-2
forms to your return in
order to avoid
correspondence with the
IRS. If you received a
Form 1099-R showing
federal income tax
withheld, attach copy B
of that form as well.
6. Be sure to sign
your check and write your
Social Security number,
the form number and the
tax year on the face of
any checks made out to
the U.S. Department of
Treasury.
7. Be sure that
your Form W-2 and all
Form 1099s are correct.
If they are wrong, have
them corrected as soon as
possible so the IRS's
records agree with the
amounts you show on your
return.
8. If you have
worked for more than one
employer, be sure to
claim a credit for any
overpaid Social Security
taxes withheld from your
wages.
9. Don't miss
deadlines. Not only is
April 15th the deadline
to make a contribution to
your IRA, but also to
file your tax return (or
request an extension).
10. Keep copies of
all documents you send to
the IRS and use certified
mail when sending
important pieces of
information their way.
Also, don't forget to
keep your records in good
shape so you can easily
find the answers to any
questions the IRS may
have about your return.
These tips, and more,
are featured in The
Ernst & Young Tax Guide
2008 now available in
stores (CDS Books;
$17.95; 800 pages).
The Ernst & Young Tax
Guide 2008 serves as an
excellent year-round
reference tool. Published
for more than 20 years,
The Ernst & Young Tax
Guide hits national
bestseller lists and
garners top reviews. The
Guide contains
information on changes in
tax laws that have
occurred through October
of 2007 so individuals,
small business and
families can file their
taxes completely and
accurately. For more
information,
Ernst & Young.
Disclaimer
The information
contained herein is
general in nature and is
not intended, and should
not be construed, as
legal, accounting or tax
advice or opinion
provided by Ernst & Young
LLP to readers.
No information herein
was intended or written
to be used by readers for
the purpose of avoiding
penalties that may be
imposed under the
Internal Revenue Code or
applicable state or local
tax law provisions.
Readers are cautioned
that this material may
not be applicable to, or
suitable for, their
specific circumstances or
needs, and may require
consideration of non-tax
and other tax factors if
any action is to be
contemplated.
Readers are encouraged
to consult with
professional advisors for
advice concerning
specific matters before
making any decision, and
Ernst & Young LLP
disclaims any
responsibility for
positions taken by
taxpayers in their
individual cases or for
any misunderstanding on
the part of readers.
Ernst & Young LLP assumes
no obligation to inform
readers of any changes in
tax laws or other factors
that could affect the
information contained
herein.
About
Ernst & Young
Ernst & Young is a
global leader in
assurance, tax,
transaction and advisory
services. Worldwide, our
130,000 people are united
by our shared values and
an unwavering commitment
to quality. We make a
difference by helping our
people, our clients and
our wider communities
achieve potential.
For more information,
please visit
Ernst & Young.
Ernst & Young refers
to the global
organization of member
firms of Ernst & Young
Global Limited, each of
which is a separate legal
entity. Ernst & Young
Global Limited, a UK
company limited by
guarantee, does not
provide services to
clients.
Source:
Ernst & Young
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