For many of us, tax filing is more complicated than just finding a couple of W-2s and calling it a day. In the midst of the waves of rising grocery costs, carpooling to practice and the neverending cycle of laundry, it’s sometimes vital to file a tax extension to catch your breath.

While the IRS accepts late filing, it’s easy to let your October deadline catch you underwater. If you’ve made it this far into the year, you probably know that filing late does not extend your tax payment deadline with the IRS. But the IRS also cannot issue you a refund until you’ve filed. So, if you’re expecting a refund, it’s best not to wait – set sail asap.

Here are some tips for a smooth sailing tax prep journey:

Find a Tax Preparer

While you can do your taxes on your own, partnering with an accounting firm like SP Group can expedite your process. IRS Free File does offer in-person and virtual tax representative appointments. However, they have limited slots for tax filing, and only work with qualifying tax cases. Private firms, like ours, can work with more complex cases with greater availability.

Gather Your Documents

While this seems like a no-brainer, there are a number of documents you’ll need to file. The IRS necessary documents list gets more complicated depending on your status as an individual, corporation, nonprofit organization, and more. Your tax representative, whether through the IRS or a certified public accounting firm like SP Group, can provide you with a specific list of documents you need based on information you provide.

Plan For Next Year’s Success

Working ahead to manage and plan for your tax liabilities and financial future is key. Tax Planning services available at SP Group include financial planning, assurance services, financial forecasts and projections, cash flow and budgeting analysis, business entity selection, retirement planning, and estate planning.

The Bottom Line

Tax prep can be exhausting, but being prepared can make it much easier – ensuring smooth sailing for filing now and in the future. Working with tax specialists like SP Group can help relieve some of the burden and help you chart a successful course for your financial future.

Don’t stress, let us help raise your sails for a smooth October tax filing journey. Contact SP Group today!