Monday, October 24, 2011

Tax tip

Not for long, this tax year will soon be over an we will be dealing with IRS again. Filing correct returns is expected by Uncle Sam and so is filing it on time. We never been late in filing our income tax returns, expect for year 2008. That is when Dave was working in Iraq for more than a year. Having an overseas job like his and with that time frame exempts his income from being taxed. It was our first year being married, and being said that, we pretty much have no idea how to get some things done and one of that is filing taxes jointly. And getting a late W2s from his employer even aggravates the situation. Long story short, we never made it on time. My impression of filing our return was not as difficult as I initially thought, the thought of big penalties, a grumpy tax person calling our house or even liquidation of our assets haunted me (yeah, I always think worst-case-scenario on every situation). But with IRS' e file tax extension option, we got it done quick and smoothly. Talk about convenience! This not only saved us gas on going to an IRS office, saved us the talk time with a tax preparer as well. The penalty is not that crazy and even though it isn't, we never missed our filing deadlines ever since. And if we might in the future, we now know what to do.

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