|
Posted: 1:22 AM Feb 22, 2012
Tax tips
SHERMAN, TX -- Tax time is right around the corner and experts say if you want to get back what is rightfully yours do not jump the gun before filing your state and federal taxes.
Reporter: Kristen Shanahan Email Address: kristenshanahan@kxii.com |
|
SHERMAN, TX -- Tax time is right around the corner and experts say if you want to get back what is rightfully yours do not jump the gun before filing your state and federal taxes.
Professionals say if you are already filed your taxes check them and make sure you did not miss anything.
Tax preparers say there are credits and deductions you can claim that could put more money in your pocket.
Local accountants say it is a good idea to be patient like Tim Bennett, aand wait for all your W-2s to come in before you start filing your taxes.
"I have not filed mine yet. I'm waiting for some more information to come in," Bennett said.
Certified Public Accountant, Joyce Horn says too many people settle for less money than they deserve and that is because they are not aware of all that they can claim.
"People shouldn't be overwhelmed or intimidated by their taxes. You know if they really don't understand them then it's really time to get educated," Horn said.
Horn says hundreds have probably already filed their taxes not knowing they could have claimed things like education, energy and child care credits. Along with deductions like miles driving on the job, property taxes, and interest paid on their home.
She says if you are one of those people who has left something out it is not too late to make a change.
"You have up to three years to file an amended tax return, but you want to wait until the original return is processed and you have your return before you try amending it," Horn said.
Horn says if you do have to amend your taxes it is important to make sure you have a copy of your tax return, but she says the most important thing to remember is do not forget to file your taxes. If you do the IRS is going to come after you.
"They are pretty forgiving if you do it and you owe and you can't pay. They'll penalize you less for not paying, but if you just don't file it and you owe the filing penalties can be substantial," Horn said.
Horn says if you have any questions regarding your taxes you can talk to a professional or visit the IRS website at www.irs.gov.
| In The Community | |
|
Local Families Needed to Share America with Exchange Students
Last Updated: 5:44 PM 05/21/12 - American freedom and democracy are a part of our everyday lives and something that we often take for granted. Have you ever thought about sharing with the rest of the world what makes America so special? You can by hosting a teen from one of more than thirty countries for the upcoming school year or semester. (Full Story) |
|
Texoma Tornadoes train for state Special Olympics meet
Last Updated: 8:33 AM 05/21/12 - DENISON, TX-More than 30 special needs athletes in Grayson County trained hard to get ready for the big dance. (Full Story) |
|
Durant man named "athlete of the year"
Last Updated: 8:32 AM 05/21/12 - DURANT, OK-A Durant man has been named "athlete of the year" by the Oklahoma Special Olympics. (Full Story) |
|
| More Headlines | |
| Most Discussed Stories |
| 'Preppers' preparing for the end 126 Comments |
| Fannin County man seeks justice for his dog 113 Comments |
| How Oklahomans feel about new "Licensed Open Carry" gun law 77 Comments |
| Education cuts may energize angry Texas parents 59 Comments |
| Voters in Bonham approve $7 million school bond 54 Comments |
| Open-carry firearms bill headed to Okla. governor 48 Comments |
| Clayton HS teacher charged in sex scandal surrenders to authorities 43 Comments |
| Denison woman arrested for Aggravated Assault with a Deadly Weapon 42 Comments |
| Marshall Co. man accused of molesting fifth victim 33 Comments |
| Gulf Coast pipeline construction comes to Texoma 31 Comments |



