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12 | r e d f c u.o r g Tax Tips to Use Now in Planning for Next Year's Tax Season Ah, tax season, do you dread it? It can be taxing on your mental capacity. Here's what to do now so you can face next year more prepared, organized, and confident. Decide who does your taxes. Were you happy with your most recent experience? If not, do some research, check with friends and family for recommendations, and select a reputable tax professional. Consider qualifications and ask about fees. Create an online IRS account. en you can access your payoff amount if you owe taxes, see your payment history, find information from your most current tax return, and more. Protect yourself from fraud. Unfortunately, tax season scams are on the rise, especially via phone and email. As a reminder, the IRS will not: › Call and demand immediate payment over the phone › reaten to involve police or have you arrested for not paying › Require you to use a specific payment method for your taxes › Ask for credit or debit card information via email or phone Get organized. Gathering documents can be time consuming. Have a location to file important forms as they arrive. Create a system that works for you, put everything in its place, and make sure it's secure. Collect your info. Once you've got a safe, organized system, fill it with your important information: › Addresses of properties you own and Social Security numbers for dependents › Income from tax refunds, alimony received, rental properties, and other benefits › IR A contributions, energy credits, student loan interest, and alimony paid › Info for any taxes you've already taken care of, like real estate taxes › Receipts for itemized deductions such as childcare costs, charitable donations, and qualifying employee expenses Make plans for a refund or bill. If you expect a tax refund, having a plan for it can lower your financial stress. Consider paying down high-interest debt or adding to your retirement savings. If you're concerned about a tax bill, start saving for it or consider changing your withholding with your employer. When it's time to file taxes again, use Redstone's routing number and your account number for direct deposit to get your tax refund quickly. You can make tax time relax time – if you prepare. Your future self will thank you!