Military tax preparation can be an exhausting time of year for everyone. As the tax deadline quickly approaches, it can be difficult to find enough time to file your taxes with the rigors of your busy schedule. Don't worry, 108 Solutions is here to help. The purpose of this article is to help you file your taxes in a stress-free way. We have developed our four (4) step process to file your taxes from a number of informative sites that have created free tax prep for military personnel. Without further ado, let’s get down to business.
Four (4) Simple Steps to Quick and Easy Filing:
1. File sooner than later
The first thing you want to consider is filing your taxes as soon as possible. There are two benefits for filing early: 1) getting it out of the way and 2) receiving your refund quicker. This also helps to eliminate the chance of missing the deadline and owing the IRS for filing late.
2. Have Paperwork Available
If you choose to find a Tax Accountant, have paperwork ready to make the process more efficient. Listed below is the most common paperwork you will need to file your taxes:
- Identification (Drivers License, Passport, etc.)
- SSC (Social Security Card)
- Tax Identification Numbers: (not all of the following will be needed)
- SSN (Social Security Number)
- Employer Identification Number (EIN)
- Individual Taxpayer Identification Number (ITIN)
- Taxpayer Identification Number for Pending U.S. Adoptions (ATIN)
- Preparer Taxpayer Identification Number (PTIN)
- Last years tax return
- All relevant tax paperwork affecting your filing:
- w2’s, 1099s, interest statements, moving expenses, etc.
3. TurboTax Military Edition
TurboTax offers free online tax prep for military personnel. TurboTax has released a new product to support our U.S Armed Forces. TurboTax Military Edition is personalized for the needs of military filers and was created by active, reserve, and retired military personnel as well as military spouses to address the challenges that come with being a military tax filer. E1s through E5s get free federal and state taxes for a limited time through February 14, 2013. Use TurboTax to simplify this tax filing period!
4. Know YOUR Military Deadline
Most military personnel and their families must file their taxes by the traditional April 15 deadline. However, qualifying members of the military can get an automatic extension for filing tax returns, paying taxes, filing claims for refund, and taking other actions with the IRS. Qualifying military members include: personnel working in combat zone services as well as overseas deployment.
Sources:
TurboTax Launches TurboTax Military Edition: We Speak Military
http://blog.turbotax.intuit.com/2012/12/13/turbotax-launches-turbotax-military-edition-we-speak-military/
The Advantages of Filing Taxes Early
http://blog.turbotax.intuit.com/2012/01/12/the-advantages-of-filing-taxes-early/
Tax Extensions for Military Personnel
http://www.filelater.com/military-tax-extension.html
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Anyone have any questions about filing taxes?
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