The income tax filing season has begun and important tax documents should be arriving in your mailbox. Even though your return is not due until April, you can make tax time easier on yourself with an early start. Here are Clergy Financial Resources’ top 7 tips to ensure a smooth tax-filing process. 1. Gather your records: Round up any documents you’ll need when filing your taxes: receipts, canceled checks and other documents that support income or deductions you’re claiming on your return. 2. Be on the lookout: W-2s and 1099s will be coming soon; you’ll need these to file your tax return. 3. Order your Clergy Tax Organizer: Each year, we publish a new tax organizer, which is designed to be used as a learning tool and reference guide. This organizer will assist you in gathering the information needed to prepare your current tax return. Click the following link to order your Clergy Tax Organizer, After your order is processed, you will be able to download the 2011 organizer. There is a fee to order the Clergy Tax Organizer, which is required to complete your tax return. However, this fee will be applied against your tax preparation charge and is not an additional cost. 4. Have a question? Contact Clergy Financial Resources to answers your tax questions about credits, deductions, general filing questions and more. 5. Try IRS e-file: IRS e-file is the safe, easy and most common way to file a tax return. Last year, 79 percent of taxpayers – 106 million people – used IRS e-file. Many tax preparers are now required to use e-file. If you owe taxes, you have payment options to file immediately and pay by the tax deadline. Best of all, the IRS issues refunds to 98 percent of electronic filers by direct deposit within 14 days, if there are no problems, and some may be issued in as few as 10 days. 6. Consider direct deposit: If you elect to have your refund directly deposited into your bank account, you’ll receive it faster than a paper check in the mail. 7. Review! Review! Review! Don’t rush. We all make mistakes when we rush. Mistakes slow down the processing of your return. Be sure to double check all the W2s, Social Security numbers, receipts, mileage and records logs and any information on your organizer as these are the most common errors. Don’t panic! If you run into a problem, remember Clergy Financial Resources is here to help.
Clergy Financial Resources serves as a resource for clients to help analyze the complexity of clergy tax law, church payroll & HR issues. Our professionals are committed to helping clients stay informed about tax news, developments and trends in various specialty areas.
This article is intended to provide readers with guidance in tax matters. The article does not constitute, and should not be treated as professional advice regarding the use of any particular tax technique. Every effort has been made to assure the accuracy of the information. Clergy Financial Resources and the author do not assume responsibility for any individual’s reliance upon the information provided in the article. Readers should independently verify all information before applying it to a particular fact situation, and should independently determine the impact of any particular tax planning technique. If you are seeking legal advice, you are encouraged to consult an attorney.
For more information or if you need additional assistance, please use the contact information below.
Clergy Financial Resources
11214 86th Avenue N.
Maple Grove, MN 55369
Tel: (763) 425-8778
Fax: (888) 876-5101