'Tis the season for taxes. We talked to some tax experts who say the sooner you can get you can get your taxes done – the better. Besides giving you peace of mind because you won’t have to worry about the upcoming deadline, you’ll also better safeguard yourself against fraud. Tax experts from the University of Denver identified a two key steps to getting your taxes done:
- Get all your information together that you’re going to need
- File early
John Tripp, a CPA and professor at University of Denver, recommends if you have access to tax prep software – then you should use it and if you hear marketing promotions about a big refund – be careful, because it may be too good to be true.
“If you hear some marketing promotions that guarantee a huge refund, there is an issue that I would have and I would say, be careful, because if it sounds too good to be true, it may be too good to be true.” John Tripp, University of Denver
Tripp says “people trying to get the accurate refund, or the appropriate refund – if you complete your tax return under the rules, then you won’t have any problems later on with the IRS, when they come back and they ask you to support what they’ve done.”
Tripp says even if you have someone help you file your taxes, whether it’s a software program, or an accountant – it is your responsibility.
There are resources available to help, including the VITA (Volunteer Income Tax Assistance) program. You can learn more about the VITA program at the University of Denver, here.
Max Schneck, the co-director of VITA at the University of Denver answered some of your tax questions live on Facebook: