The tax filing deadline is quickly approaching, and if you’ve been putting off the inevitable, you’re not alone. Every year, thousands of individuals and business owners find themselves scrambling to file their taxes just days—or even hours—before the deadline. The good news? It’s not too late to get organized and file on time. Here are some last-minute tax filing tips from our team of CPAs to help you meet the deadline and avoid unnecessary penalties.
1. Gather All Necessary Documents
Start by collecting all your income documents, including W-2s, 1099s, investment statements, and any records of other earnings. You’ll also want to gather receipts for deductible expenses, mortgage interest statements, and proof of charitable contributions. Having everything in one place reduces errors and saves time.
2. Double-Check Personal Information
A common and easily avoidable mistake is submitting incorrect personal information. Ensure that your name, Social Security number, and banking details are accurate. If you’re claiming dependents, make sure their information is correct and hasn’t already been used on someone else’s return.
3. File Electronically for Speed and Accuracy
E-filing is the fastest and most accurate way to file your taxes, especially when you’re in a rush. Most reputable tax software includes built-in error checks that help catch mistakes before you submit. Plus, you’ll receive a quicker confirmation from the IRS, and if you’re owed a refund, it’ll be processed faster with direct deposit.
4. Consider Filing for an Extension
If you know you won’t make the deadline, consider filing for an automatic extension using IRS Form 4868. This gives you an additional six months to submit your return, but it’s important to note that it doesn’t give you more time to pay any taxes owed. You must still estimate and pay your tax liability by the April deadline to avoid penalties and interest.
5. Don’t Guess Your Numbers
In a rush, it can be tempting to estimate income or deductions. Avoid this. Guessing can trigger audits, delays, or fines. If you’re missing documentation, do your best to retrieve it or consult a CPA who can help you navigate missing forms and suggest appropriate next steps.
6. Review Before Submitting
Even if you’re on a tight timeline, take a few minutes to review your return for any missed deductions or errors. Typos, incorrect calculations, and overlooked credits can cost you money or cause delays in processing. A second set of eyes, especially from a CPA, can make a big difference.
7. Don’t Forget State Taxes
While focusing on federal taxes, many filers forget that their state may have its own deadline and filing requirements. Make sure you check your state’s tax website or speak with a tax professional to ensure you’re compliant on all fronts.
Let a CPA Help You Cross the Finish Line
When time is limited, having a certified public accountant on your side can make all the difference. We can help you file quickly, accurately, and efficiently—giving you peace of mind and minimizing your stress.
If you’re feeling overwhelmed as the deadline looms, reach out to our team today. Whether you’re filing for yourself or for your business, we’re here to help make tax season less taxing.