With March Madness behind us, it’s now April Madness as the April 18th tax filing deadline is nearly upon us. Mark Steber, Chief Tax Officer of Jackson Hewitt joins us to explain what you can do to speed up the tax refund process. Procrastinators may be celebrating the three extra days they get to file their taxes this year, but there are more of them this year, as the IRS reports nearly 6 million fewer returns have been filed to date this year versus last. Some of this is due to the IRS’s efforts to reduce the incidence of Refund Fraud and Earned Income Tax Fraud as well. Get your record system ready now for next year. Use your smartphone to document all your expenses and outlays, mileage, etc. Then at the end of the year the process will much easier and you’ll be rewarded with a larger refund. Mark also provides you with last minute filing tips to discuss the most common mistakes filers make; what deductions independent contractors and gig economy workers can take advantage of; and more.
Sign up (on the right side) for the instant free Financial Survival Toolkit and free weekly newsletter.