Bohemia, NY (PRWEB) February 19, 2013
On February 19, in response to a recent article listing eight tax moves people should be making during the 2013 season, Long Island accountants Diapoules & Feinstein CPAs P.C. offer a comment on dealing with the IRS.
The article from Market Watch says that since the tax season is facing some delays this year, refunds as well as fees for tax pros will be held up. However, there are some measures that filers can take in February to help their tax season go along smoothly.
The article advises that filers be sure to track down all of their tax forms. (You should have received them already, and they should have been postmarked by January 31.) If you don’t have them yet, or can't find them, start contacting employers and clients to get those stray tax forms in order.
You should also get an IP PIN in order to avoid identity theft, says author Eva Rosenberg. “This special IP PIN is issued to people who have informed the IRS that someone may have filed a fraudulent tax return using their Social Security number,” she says. By getting an IP PIN, you ensure that you’re the only one that is able to use your Social Security number.
If you were exempt last year, you may also need to file a new W-4 with your employer, says Rosenberg.
It’s also a good idea to contact your accountant during tax season, says the article. They can give you a lot of help with tax preparation. Also on the subject of tax preparation, the article suggests setting up a filing system for all of your 2012 tax related documents.
If you are planning on paying estimated taxes this year, Rosenberg also urges setting up an account with the Electronic Federal Tax Payment System (EFTPS). This way you will be able to pay all of your taxes directly from your bank account.
Jim Diapoules of Diapoules & Feinstein CPAs P.C. responds to the tax tips, stating, “The points in this article are well taken. Their first point is to be proactive but I would recommend being well prepared and organized is the most effective way to insure that your return is properly prepared and that you will not miss deductions or income. This will also make your preparer’s work easier and reduce your fee.
Our office has had a number of clients who were victims of identity theft. The perpetrators file refund claims and we have noticed that they usually choose elderly taxpayers. Anybody that has older relatives should be on the alert and help them with their tax paperwork. The thought is that elder victims are chosen as they may not be required to file a tax return or will are unable to respond to any tax inquiries making it more likely that the fraud is not found. While the IRS has developed programs to deal with identity theft, it is still a process to correct the records and to file your succeeding returns. Identity theft is a bigger problem than most people realize, so be on the alert.”
Diapoules & Feinstein CPAs P.C. have been providing accounting, auditing and tax services to Greater New York City area since 1989. D&F provides our clients with great personal attention and years of professional experience in order to see them succeed and help them to feel confident.