Tax preparation and filing are stressful for a lot of people. Whether you’re working with an expert or on your own, you probably have a lot of questions. Cheryl Hawkins Tax and Accounting has prepared tax returns for individuals and businesses in Jordan, MN, for more than 20 years and is here to answer some of the most frequently asked ones. 

Tax Preparation FAQs

What documents do I need to bring with me?

The documents you bring to your CPA will vary greatly depending on whether you’re single or married, if you own a home or rent one, whether you’re employed, self-employed, or unemployed, and more. At minimum, you should expect to provide W-2s or proof of self-employment income and expenses or unemployment compensation, as well as any tax documents provided to you by lenders and insurers. Bring last year’s tax return, too.

How early can I file my taxes?

As soon as you have all the relevant documents from your employer, lenders, and other organizations, you can begin the tax preparation process. The IRS starts accepting returns after a predetermined date, which was January 29 this year.

When is the deadline for filing?

The deadline for filing your 2017 tax return is April 17, 2018. While this date is considered “Tax Day,” keep in mind it can vary from year to year, depending on whether the 15th falls on a weekend or “Emancipation Day” in Washington, DC.

What happens if I owe money?

If you owe taxes, you’ll need to pay them promptly to avoid penalties. If it’s a small amount, you can pay it in full with a credit card. For larger amounts, set up installments with the IRS.

How long will it take to get my refund?

A variety of factors may impact how long it takes for you to receive a refund. The IRS, however, estimates most people will receive a refund within 21 days of e-filing. If you mailed in your tax return, it could take up to six weeks.

If tax preparation has you feeling overwhelmed, let Cheryl Hawkins Tax and Accounting guide you through the process and make it as stress-free as possible. Whether you’re a single individual, have a family, or run your own business, she has extensive knowledge of the applicable laws and will ensure your documents are submitted correctly and on time. Visit her website to learn more, or call (952) 222-8272 to schedule an appointment.