Tax Time: Early Birds Catch a Breather

by Center for Personal Finance editors

April 15 may seem light-years away, but taking control of your tax situation now can save you time and frustration later. By getting a jumpstart you'll have time to request copies of missing documents; avoid the last minute rush; and, if you're getting a refund, probably receive it sooner.

Here are some tips from CBS MarketWatch:

Gather records in advance. Make sure you have the documentation you need, including W-2s and 1099s. Save a copy for your files.

Get the right forms. Visit your local library or check the IRS (Internal Revenue Service) Web site's Forms and Publications section.

Give yourself a break--a coffee break, that is. Rushing can cause errors, so take your time.

Double-check your math and Social Security number. These are among the most common errors on tax returns.

Use direct deposit. Let the IRS put your refund right into your account.

Consider filing electronically. It's easy and fast and the refund will be in your account even faster.

January 31, 2005