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February

1/25/2012

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Its almost here. The second month of tax season.  So far so good, have you filed your taxes yet? No? Thats ok!  While some of us have already received our W2s, the rest of you should have them no later than next week.  But before you rush to find out what your refund is be sure to have all your important documents ready.  There's no fun in having to wait an extra day to file.  Especially when that extra day translates into waiting an additional week for your tax refund.  If you owe, then no worries, you have until April 17 to pay.

If you have any investment accounts there is a possibility that you won't receive your 1099s until mid-February (or later).  If you have already filed a return and later receive a document that needs to be included with your tax return, you will need to amend.  Unfortunately amending a return is required to be filed by paper (no e-file available) and will take 8-12 weeks to process, possibly longer during peak season.

So, bottom line for February, make sure you have all your documents before you go see your preparer (ME!).  Have an excellent end to January and wonderful start to February!

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