It seems this day rolls around much too fast this time of year. Today is the deadline for filing your 2013 taxes. Most people who were owed a refund have filed already, but there are some procrastinators out there who have still not filed their taxes. If you are owed a refund, you will not be penalized if you don't file your taxes today, but if you owe the IRS money you better hurry and file your taxes or you will be looking at fines and penalties.
For those of you that owe money to the IRS and you you know you do not have the money to pay what you owe, my suggestion would be to contact the IRS and discuss some sort of payment arrangement. You should still file your taxes, but call the IRS to see what options you have. It is not a good idea to ignore file your taxes because you can't afford to pay them because that will just cost you more money and added stress knowing that you have this tax bill hanging over your head.
It is a good idea to prepare for tax time for next year by keeping and organizing receipts, get a small notebook to keep in your car to keep track of gas and auto expenses, put a small savings aside for unexpected tax expenses. If you receive a Form 1099 , it is especially important for you to keep accurate records and receipts because these tax filers have the potential to be audited more frequently. Another thing I recommend is that at the beginning of tax season next year, order a copy of Publication 17 from the IRS. You can go on the IRS website and it will tell you how you can get a copy. You can also just view Publication 17 on the IRS website. Publication 17 will tell you everything you need to know regarding the filing of your taxes. Publication 17 is a really great tool for those people who prepare their own taxes. Click the link below to view 2013 Publication 17.
Tax time is stressful for most people, but if you plan, organize and don't procrastinate you can make tax time a lot less stressful.