Sunday, June 23, 2024
HomenewsNow That Tax Time Has Arrived, What Do You Need to Know?

Now That Tax Time Has Arrived, What Do You Need to Know?

The tax filing season has begun. Tax professionals claim that W2s and 1095s have been mailed and that people have until April 15 to file.

To get their taxes done, people can sign up for the VITA program at People Incorporated, which provides free tax preparation for Valley residents.

Garrett Jackson, Director of Community Services at People Inc., explains that the IRS has a program that requires volunteers to prepare taxes using either the Tax Slayer online system or the traditional paper approach.

According to Jackson, you’ll need the tax return from the previous year, identification documentation, W2s, 1098, 1099, and 1095 forms, as well as information on your income, deductions, and credits, as well as evidence of your bank or savings accounts, and your social security number.

The money should be in your account in roughly two weeks if you file electronically and receive your return via direct deposit, according to him.

However, Jackson warned that receiving your refund could take many months if you opt for paper filing.

“Electronic returns are much faster, and if you’re getting a direct deposit—which we strongly advise everyone to do—just it’s much easier to accomplish that.

With an electronic return, you may expect to receive your refund in approximately two weeks, whereas, with a paper return, you might not receive your money for a few months, according to Jackson.

He claimed that the absence of federal stimulus cheques from this year’s tax season is the largest change. You can call People Inc’s hotline at 276-619-2235 or visit their website to sign up for these services.

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