You can do things the old-fashioned way, but we wouldn’t recommend it. Tax software, such as TurboTax, is designed to make your filing as quick and as painless as possible. Even the free versions of tax software are great for most scenarios.
Knowledge of Forms
There are lots of forms you can acquire from the IRS website. Understand which forms you need. For example, the self-employed need Form 1099-MISC. If you receive dividends you need another type of 1099. Make sure you investigate this.
Paper documentation isn’t necessary for you. It’s necessary for the IRS should they decide to carry out an audit. Make sure you keep this information safe even after filing your taxes. You never know if they will decide to investigate.
You can get an extension, but this is only an extension on when you need to file not an extension on the deadline to actually pay your taxes. Mark the deadline on your calendar.
A Tax Preparer
Professional tax preparers are important allies for making sure you miss nothing. Go out of your way to spend time sifting through the various tax professionals operating in your local area. They will be able to show you what you need to file in order to avoid attracting unwanted attention from the IRS auditing team.
Image credit: David Besnette