We can already mark on the calendar the day on which the United States IRS will open the Tax Season. That day is none other than January 29th. The day on which we will be able to start sending all the documentation and, therefore, we will be able to know if we will get a stimulus check with the Tax Refund or not. This day is very important for Americans, as their obligations as citizens depend on it.
Paying taxes is something that is incumbent upon all citizens. Those Americans who do not send their Tax Return to the IRS could have financial problems in the future. This type of documentation is mandatory in most cases, even if we do not have to pay taxes as such. In many cases we will even get extra money in the form of a stimulus check.
Remember that whenever a Tax Season starts there is a time in which we can send the documentation. It is not mandatory to do this in the first days, but it is mandatory to do it in the days of the Tax Season if we do not want to have a fine or penalty from the IRS. Even so, there is still plenty of time before the Tax Season starts.
What to do before the IRS Tax Season starts?
Now that we know that the IRS Tax Season will start next January 29th, we can organize our documentation. In order to be as prepared as possible when the day arrives on which we will send the documentation, we must take several things into account.
On the one hand, we must prepare all the documentation that we have to send. This means that we must fill out the corresponding forms. Each citizen has to do a different form depending on their situation, so check with the IRS which one you need to complete and do it as soon as possible.
On the other hand, all documentation related to income, expenses and taxes in general must be added to our Tax Return. Also, any other documents that help us to prove something tax related, such as the Child Tax Credit, should be included.
Finally, it is also a good idea to check all the documentation one more time when we think we are done gathering and completing everything. The moment we send the IRS the paperwork there is no turning back. Therefore, we have to be very careful to do it right in order to avoid any financial problems in the future.
The end of the Tax Season will be in April, so we have plenty of time to send the documents. However, the sooner we send the IRS the documents, the sooner we could get the Tax refund. That is provided we are eligible to get this stimulus check. In addition to that, there is also a way to get an extension of time for the Tax Return, but not all Americans can get this.