Tax Filing Tips for Your 2007 Return

Suggestions from IRS on getting organized for the tax season.

Internal Revenue Service

It's time to get tax papers in order for filing of your 2007 return tax to the Internal Revenue Service. The IRS has seven suggestions to get better organized and to secure your refund earlier if you paid more taxes than you owe.

Earlier is better when it comes to working on your taxes. Taxpayers are encouraged to get a head start on tax preparation, especially since early filers avoid the last minute rush and get their refunds sooner.
Here are seven easy ways to get a good jump on your taxes long before the April deadline arrives:

1. Gather your records in advance. Make sure you have all the records you need, including W-2s and 1099s. Don't forget to save a copy for your files.
2. Get the right forms. They're available around the clock on the IRS Web site, www.IRS.gov.
3. Take your time. Don't forget to leave room for a coffee break when filling out your tax return, as rushing can mean making a mistake.
4. Double-check your math and verify all Social Security numbers. These are among the most common errors found on tax returns. Taking care will reduce your chance of hearing from the IRS and speed up your refund.
5. E-filing is easy. E-filing catches math errors, provides confirmation your return has been received and gives you a faster refund.
6. Get the fastest refund. When you e-file file early, you receive your refund faster. When you choose "Direct Deposit," you receive your refund sooner than waiting for a check.
7. Don't panic. If you have a problem or question, remember the IRS is there to help. Try the IRS Web Site at www.IRS.gov or call the IRS customer service number toll-free at 800-829-1040.

Keep in mind that there are new recordkeeping requirements for cash contributions for your 2007 filing:

• You cannot deduct a cash contribution, regardless of the amount, unless you keep as a record of the contribution a bank record (such as a canceled check, or a bank statement containing the name of the charity, the date, and the amount) or a written communication from the charity.
• The written communication must include the name of the charity, date of the contribution, and the amount of the contribution.

This article, and hundreds more, can be found on the NEA Member Benefits Web Site in the "Member Library" section: www.neamb.com/consumer_articles.jsp.