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Tuesday, February 14, 2006

Taxman cometh...again

I had this post done last year. Found it is relevant and current in its entirety. So re-posting it. However, one minor change/tip, just check out TaxActOnline.com - dont think they have income restrictions for Federal Free eFile...

Yes, it is taxing time for everyone. April 15th is the last day to file your federal taxes. State filing dates may vary. Virginia waits till May 1st.

Alert : Last minute procrastinators - You may choose to file at the last moment, but make sure you have all the information and correctly to say.i.e. make sure your W-2 has your SSN,Name exactly as in your SSN card. Make sure you have all the 1099-NT from the banks and they tally with what you have.

Some important tips :

  • Federal taxes can be e-filed free. Visit www.irs.gov to get more details
  • VA state taxes can be e-filed free as well. Visit tax.virginia.gov for more details
  • Most states offer free tax filing via their sites. Check out our state's web site
  • You can visit your local post office, public libraries or the website to download forms and instructions to fill the same.

It is advisable to calculte with paper & pencil (into the downloaded/pickedup form) and tally it with any website that you may choose to use. Keep in mind to not fill in your ssn when you are doing scrap work (safety precaution)

Remember, it is your responsibility to file taxes and get/pay any thing that is due. Any unclaimed refunds beyond 3 years will be forfeited.

Do not hesitate to ask for any help that, someone around you, can help you with. Or comment on this website.

Nothing stops with information - it has to turn into commentary ! ;)

Wow, what a way to make people lose their money. First, they deduct taxes at source, then they deduct more/wrongly. Then you have a limited time to fail and claim. And if you fail to be accurate in your claims, you will be penalised, even if you are due a refund ! Sad to note that most countries around the world use this mode.

Excellent money minting policy !

11 comments:

Zeppelin said...

cha...what an unromantic post on V-day ! huh !!! thirundhu da.... :p

Arvind said...

Zep,
Sorry bud, i did not have any posts to satisfy your craving for romance on V-day ;) :P

BTB, What are you doing blog-hopping on V-day ?

SamY said...

we'll this is what u blog on v'day ... now can't u even empathise y a fellow blogger hops around and reads *THIS* post on v'day =))

birds of a feather flock together

Zeppelin said...

@ samy,
good one...

@ arvind,
your question has been answered by samy... dont you think ?

adutha varushamaavadhu V-day epdi celebrate pannanumo apdi celebrate pannu... en vaazhthukkal ! ;)

Arvind said...

Samy & Zep,

Birds of a feather - reading this post on a v-day =)) - true indeed

@Samy,
I thot, savings from here can help people like you, Zep buy some nice gift for your v ;) :P

@Zep,
Vazhthukkalukku mikka nandri !

Ganesh said...

Arvind, namaoorala For Diwali they Gangasnanam aacha same way here tax file panniacha ;) its like a festive day.

localhost said...

thanks for the tips arvind! My first tax filing in the US this year...

Arvind said...

Ganesh,
True, especially any refund dollars are welcome ;)

abcd,
anytime :-)

Vidya said...

What are you , the tax guy ??? But good tips , though. People always have a problem filing here in the USA, if they are doing it for the first time here.

Anyway, I don't have state tax to file and am ga-ga about it !!

Vidya

P.S Thanks for pointing out that the font-size on my page was HUGE. The customizations that I had done with Firefox did not go quite well with IE. Now all is well in my blog world !

Raman said...

Come tax time and we know that the best consulting comes from you :-)

I remember reading somewhere, "There will always be death and taxes. However, death doesn't get worse every year" :-)

Arvind said...

vidya (n.s),
Good, atb with your tax filing - re: font size, hee hee, if i can't read, i comment :-D

Raman,
LOL at the saying :)