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Tax Tips You Need to Know this 2023

Tax Tips You Need to Know (Photo: FEDmanager)

Tax Tips You Need to Know (Photo: MPM Consulting Services Inc.)

Make 2023 the year when you get the highest tax refund by simply following these tax tips. Because taxes are due on April 18th, it is time to begin planning and preparing for tax season. 

Easy Tax Tips when Filing

It may be a daunting task if you have never filed taxes before. However, breaking the process into manageable steps can help streamline and shorten the learning curve.

TikToker, GECU Credit Union’s @mygecu breaks down the tax tips in this TikTok. She recommends first gathering all the essential documents you’ll need for filing. This includes an ID card, a Social Security card, W2 forms, 1099 forms, and student loans.

READ ALSO: Here Are Ways To Boost 2023 Tax Refunds Even Without Itemizing Deductions

Tax Tips You Need to Know (Photo: Marca)

Step 1:Collect all your documents, including your social security card, ID, W2s, 1099 forms, etc.

Step 2: Keep your routing and account numbers handy if you receive a tax refund.

Step 3: If your life has recently changed, consider these changes in your tax filing.

Step 4: You’re all set to file your tax return! There are numerous options, including filing through tax preparation software or for free through our VITA program!

Tax Tips for Tax Return Filing

According to the IRS, if your adjusted gross income is less than $73,000, you are eligible to file your taxes for free. Go to the IRS website to begin your search for free online providers.

The IRS features 11 websites on this site from which users can file for free. If the number of options on this site overwhelms you, you might find it helpful to narrow your search by the income bracket, age range, and state to which each site caters. The IRS estimates that 70% of American taxpayers are eligible for this program.

Simply adhering to these tax tips may help you make your filing more accessible and manageable.

READ ALSO: Here’s How To Claim Your 2023 Earned Income Tax Credit (EITC)

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