You are entitled to a stimulus payment when you return

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EL PASO, Texas (KTSM) — Tax season officially begins on Monday, but it can be difficult to file your property taxes and avoid time-consuming amendments or costly audits.

According to Terry Hansen, Tax Specialist at Jackson Hewitt, there are some things you can do to make sure the process goes smoothly and you get your return faster. The best thing you can do to get your return faster is to file it electronically.

“Electronic is the fastest way to go. Don’t do it any other way. If you do paper and send it, it’s going to wait a long time because they’re way behind in processing the paper. They have to take that paper and put it in a computer, and they’re way behind on the paper already, and if you file electronically, you can get your return in a matter of weeks.

Terry Hansen Tax Expert – Jackson Hewitt

Hansen said the earlier you file your tax return, the better. However, he said, you must have all your W2s ready before you file. In addition, you must correctly declare all your income, including unemployment. If the amount of income you are reporting does not match what the Internal Revenue Service (IRS) has on file, it could slow down your reporting and lead to a costly audit.

Hansen said one thing to remember is that you have to report the money you received from the stimulus payment in March and the Advanced Child Care Credit, if you received them. If everything matches, your tax process will go more smoothly. He also said that if you haven’t received the stimulus payment, now is the time to ask the IRS to send you your money,

“Those who have already taken the advance for the advance child tax credit, they really need to get this letter back [IRS Letter 6419] to make sure he matches what he tells us or he could delay this return. The opposite is the people who did not receive their $1400 in March [2020] The only way to get this money is to file a return. If he was unemployed and didn’t get it, if he didn’t file in 2020 and didn’t get the recovery credit in March, then he’s entitled to his statement. It’s the only way to get it back. That $1,400 is yours, whether you received it ahead of time or deposited it today to get it.

Terry Hansen Tax Expert – Jackson Hewitt

Hansen said the IRS sends this letter 6419 to parents who received advance child tax credit money last year, and it is imperative that you keep it with your records. If you haven’t received it yet, keep an eye out because the IRS started sending them in December 2020.

Hansen also said to pay attention to the deductions you claim and only take legal deductions. This is an area that, if not claimed correctly, could raise red flags for the IRS.

According to Hansen, inferences can also trigger red flags, so only accept legal inferences that can be proven.

If you need information on how much you received from the Child Tax Credit or Stimulus Payment, go to the IRS website.

The deadline for filing your taxes this year is April 18.

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