FAQs

The federal individual income tax filing deadline is usually April 15 each year. For assistance with tax preparation, keep in mind that if the date falls on a weekend or holiday, the deadline may shift to the next business day.

For tax preparation, common documents include W-2s from employers, 1099 forms (contract work, interest, dividends, retirement, unemployment, etc.), 1098 forms (mortgage interest, tuition payments), Receipts for deductible expenses, Property tax statements, and Health insurance documents (Form 1095-A, if applicable).

Yes. For accurate tax preparation, filing without all required forms can result in delays, corrections, or IRS notices. Always wait until you've received your complete tax packet.

When planning for tax preparation with us at Tax Savers, it’s important to understand the difference: tax deductions reduce your taxable income, while tax credits reduce your actual tax owed dollar for dollar—often making them more valuable.

Yes. For convenient tax preparation, most individuals can file online using tax software or IRS Free File if they are eligible.

For proper tax preparation, the IRS recommends keeping tax records for at least 3 years. Keep them 7 years if you claim a loss, or indefinitely for certain business or property records.

Yes. For accurate tax preparation, all income must be reported, even if you didn’t receive a 1099 form. Freelancers often must pay self-employment tax as well.

For effective tax preparation, common ways to reduce your tax liability in our experience include contributing to retirement accounts, claiming eligible credits, tracking deductible expenses, and making estimated quarterly payments if self-employed. Always consult a licensed tax professional for personalized advice.

For responsible tax preparation, you should still file your return on time. If you can’t pay, options include setting up IRS payment plans, requesting extensions to pay, or applying for financial hardship programs. Failing to file is more serious than filing and arranging a payment plan.

For proper tax preparation, a tax filing extension gives you more time to file (until October 15) but does not give you more time to pay. Any tax owed is still due by the April deadline.