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Through March 22, the IRS reported having received about half of the 132 million returns it expects this year. If your is not yet one of them, you may be feeling a bit "taxed" over taxes. Don't worry... start filing, as IRS offers some tips to reduce "tax-time stress." GET GOING. Don’t put off your 2001 taxes any longer. The April 15 deadline less than two weeks away. Give yourself too little time and you’re more likely to overlook something. Gather the income reports you got from employers and financial organizations. Find the forms sent by mortgage companies, colleges, or financial institutions related to payments you made that may count towards a deduction or tax credit. Review your checkbook and credit card statements for other potential savings. GET ORGANIZED. Once you’ve gathered your records, sort them out. Put items related to income in one folder, those for potential deductions in a second, and those for credits you might claim in a third. Use your federal and state tax instructions, along with your tax returns from last year, to help with this process.
GET HELP. Once you’ve organized your tax records, decide whether you’ll be doing the forms yourself or looking for someone else to handle that job.
GET ONLINE. The IRS Web site – www.irs.gov – has forms and publications for downloading, information on tax law changes, answers to frequently asked questions, interactive calculators, e-filing details and links to private sector e-filing partners. The redesigned Web site has had more than 1.4 billion hits already this filing season, a 35 percent increase over the same period last year. There were 150 million file downloads through February, a 45% increase over the preceding year.
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