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Last Minute Tax Help

Last Minute Tax Help
Taxes are due April 15

    The deadline for filing your federal income tax return (if you’re a U.S. citizen) is five days away. If you haven’t gotten around to filing yet, you’re in good company: one-third of all Americans file in the two weeks just before the deadline, and TurboTax reports that 200,000 taxpayers used their software in the last two days alone. The IRS has actually made it easier to file your taxes at the very last moment, and offers other choices for taxpayers feeling a too-tight deadline. You still have options, although I’m not an accountant or a tax lawyer and your situation may require the advice of a tax professional.

    Make Sure You Need to File

    According to the IRS, millions of people file tax returns every year even though their incomes are below the minimum required to file. In general, that means that it’s worthwhile checking to make sure that you actually have to file — although this year is a special case. That economic stimulus check the government’s promised? You are absolutely required to file a tax return in order to get your $600. If you made less than $3,000 total in 2007, however, go ahead and skip the paperwork.

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    In most years, however, the question of whether to file a tax return boils down to whether you either expect a refund or expect to owe the government more money. If neither of these cases apply to you, you may be able to skip the paperwork. The IRS offers a page that can help you decide based on your answers to a series of questions.

    File Electronically

    80 million taxpayers filed electronically last year. The IRS brags about the greater accuracy of electronic filing, the faster processing of refunds and the ability to avoid postage. But what we procrastinators really care about is the fact that we can file 24 hours a day and 7 days a week — even the night of April 14th.

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    To file online, you’ll need the same paperwork you would to fill out your 1040 by hand:

    • Last year’s tax return
    • Social Security cards for your dependents, if any
    • W-2s from all your employers
    • 1099s from any other income you received, as well as income receipts from real estate, royalties, trusts, Social Security and other sources of income
    • Any receipts pertaining to your small business

    If you plan to itemize your deductions, you’ll also need the paperwork to document your itemizations — claiming the standard deduction may be faster if you get down to the wire, but many taxpayers could save a lot of money by itemizing.

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    Once you’ve gathered up the necessary paperwork, you’ll need to choose your e-file provider. To file electronically, the IRS requires taxpayers to go through authorized e-file providers: companies that are not actually affiliated with the IRS but have been authorized to file electronically through secure methods. These companies are broken down into two groups — Free File options and e-File options.

    Free File providers do just what the name says: they allow you to file your tax return for free. There is a catch though: you are only eligible to use Free File if your adjusted gross income for the year was under $54,000. To find your AGI, add up any income you received including wages, alimony, unemployment compensation, capital gains and anything else you can think of and subtract off your deductions using the standard deduction can make the process go faster if you aren’t sure just what deductions you are eligible for.

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    Everyone making over $54,000 but wanting to file electronically must pick an authorized provider off of the IRS’ list. To be honest, most of these companies operate in pretty much the same way and have similar pricing. However, many do not offer state tax preparation. It’s up to you to find a provider who can also determine your state tax burden and help you file. To make matters harder, there are still a few states that do not accept electronically filed tax returns.

    Request an Extension

    For some of us, even filing electronically won’t get our paperwork in before April 15th. The IRS does give taxpayers the option of requesting an extension until August 15th. You have to submit Form 4868 (PDF), which is actually pretty easy to fill out: you list your name, address, Social Security number and answer four questions about the taxes you owe for the year. You can send in the form through the mail, electronically or through an authorized outside service provider. There’s only one drawback to the extension process — no matter why you might request an extension, you must pay whatever taxes you expect to owe when you submit your Form 4868. Uncle Sam doesn’t care so much about the paperwork, because he still gets your money. File for an extension without paying off your estimated balance and the IRS can slap you with some serious fees and penalties, making it worthwhile to over-estimate and err on the side of caution when making your payment. You’ll still get your refund, although it can take an extra four months.

    File Regardless

    Before April 15th rolls around, it’s crucial to have filed something with the IRS. File a tax return or a request for an extension — either way, you’ve filed. As long as the IRS has a Form 1040 or a Form 4868 (and that all important check from anyone owing taxes beyond what may have been automatically deducted), you’re cool with the IRS. It’s the guy who’s required to file, but hasn’t, who will be having trouble down the line.

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    Last Updated on March 13, 2019

    How to Get out of a Rut: 12 Useful Ways to Get Unstuck

    How to Get out of a Rut: 12 Useful Ways to Get Unstuck

    Have you gotten into a rut before? Or are you in a rut right now?

    You know you’re in a rut when you run out of ideas and inspiration. I personally see a rut as a productivity vacuum. It might very well be a reason why you aren’t getting results. Even as you spend more time on your work, you can’t seem to get anything constructive done. While I’m normally productive, I get into occasional ruts (especially when I’ve been working back-to-back without rest). During those times, I can spend an entire day in front of the computer and get nothing done. It can be quite frustrating.

    Over time, I have tried and found several methods that are helpful to pull me out of a rut. If you experience ruts too, whether as a working professional, a writer, a blogger, a student or other work, you will find these useful. Here are 12 of my personal tips to get out of ruts:

    1. Work on the small tasks.

    When you are in a rut, tackle it by starting small. Clear away your smaller tasks which have been piling up. Reply to your emails, organize your documents, declutter your work space, and reply to private messages.

    Whenever I finish doing that, I generate a positive momentum which I bring forward to my work.

    2. Take a break from your work desk.

    Get yourself away from your desk and go take a walk. Go to the washroom, walk around the office, go out and get a snack.

    Your mind is too bogged down and needs some airing. Sometimes I get new ideas right after I walk away from my computer.

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    3. Upgrade yourself

    Take the down time to upgrade yourself. Go to a seminar. Read up on new materials (#7). Pick up a new language. Or any of the 42 ways here to improve yourself.

    The modern computer uses different typefaces because Steve Jobs dropped in on a calligraphy class back in college. How’s that for inspiration?

    4. Talk to a friend.

    Talk to someone and get your mind off work for a while.

    Talk about anything, from casual chatting to a deep conversation about something you really care about. You will be surprised at how the short encounter can be rejuvenating in its own way.

    5. Forget about trying to be perfect.

    If you are in a rut, the last thing you want to do is step on your own toes with perfectionist tendencies.

    Just start small. Do what you can, at your own pace. Let yourself make mistakes.

    Soon, a little trickle of inspiration will come. And then it’ll build up with more trickles. Before you know it, you have a whole stream of ideas.

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    6. Paint a vision to work towards.

    If you are continuously getting in a rut with your work, maybe there’s no vision inspiring you to move forward.

    Think about why you are doing this, and what you are doing it for. What is the end vision in mind?

    Make it as vivid as possible. Make sure it’s a vision that inspires you and use that to trigger you to action.

    7. Read a book (or blog).

    The things we read are like food to our brain. If you are out of ideas, it’s time to feed your brain with great materials.

    Here’s a list of 40 books you can start off with. Stock your browser with only the feeds of high quality blogs, such as Lifehack.org, DumbLittleMan, Seth Godin’s Blog, Tim Ferris’ Blog, Zen Habits or The Personal Excellence Blog.

    Check out the best selling books; those are generally packed with great wisdom.

    8. Have a quick nap.

    If you are at home, take a quick nap for about 20-30 minutes. This clears up your mind and gives you a quick boost. Nothing quite like starting off on a fresh start after catching up on sleep.

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    9. Remember why you are doing this.

    Sometimes we lose sight of why we do what we do, and after a while we become jaded. A quick refresher on why you even started on this project will help.

    What were you thinking when you thought of doing this? Retrace your thoughts back to that moment. Recall why you are doing this. Then reconnect with your muse.

    10. Find some competition.

    Nothing quite like healthy competition to spur us forward. If you are out of ideas, then check up on what people are doing in your space.

    Colleagues at work, competitors in the industry, competitors’ products and websites, networking conventions.. you get the drill.

    11. Go exercise.

    Since you are not making headway at work, might as well spend the time shaping yourself up.

    Sometimes we work so much that we neglect our health and fitness. Go jog, swim, cycle, whichever exercise you prefer.

    As you improve your physical health, your mental health will improve, too. The different facets of ourselves are all interlinked.

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    Here’re 15 Tips to Restart the Exercise Habit (and How to Keep It).

    12. Take a good break.

    Ruts are usually signs that you have been working too long and too hard. It’s time to get a break.

    Beyond the quick tips above, arrange for a 1-day or 2-days of break from your work. Don’t check your (work) emails or do anything work-related. Relax and do your favorite activities. You will return to your work recharged and ready to start.

    Contrary to popular belief, the world will not end from taking a break from your work. In fact, you will be much more ready to make an impact after proper rest. My best ideas and inspiration always hit me whenever I’m away from my work.

    Take a look at this to learn the importance of rest: The Importance of Scheduling Downtime

    More Resources About Getting out of a Rut

    Featured photo credit: Joshua Earle via unsplash.com

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