Taxes are often paid to government from our income. To File a Federal and State Income Tax Return, one must first need to find out how much money made the previous year. Then one need to decide if to take the standard deduction or itemize your return. Finally, you'll need to submit everything.
Steps to take so as to File a Tax Return
- Try and compile your paperwork, including A W-2 form from each employer, other earning and interest statements etc.
- Then one need to Choose your filing status. Filing status is often based on if you're married. The percentage you pay toward household expenses also affects your filing status.
- The individual has to decide how you want to file your taxes. The IRS often recommends using tax preparation software to e-file for the easiest and most accurate returns.
- Find out if one is taking the standard deduction or itemizing your return.
If an individual owe any money, learn how to make a tax payment and also apply for a payment plan.
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