Preparing for Tax Season

Each year in the United States, April 15 marks the official deadline for taxpayers to file their tax returns.

Taxpayers in the United States must file their returns by this day or face penalties. Though the filing deadline may be in mid-April, it’s wise for taxpayers to begin preparing to submit their returns much earlier than that.

For those who have not done so in the first two months of the year, March is a great time to begin preparations to ensure returns are accurate and filed on time.

Gather and organize your records. Many people rely on a professional to work on their returns, and April is such professionals’ busiest time of year. Contact your tax professional.

Given that 2020 was a complicated year, it will likely create some unique challenges for preparation of 2020 tax returns. Give your tax professional the time he or she needs.