Thursday, April 11, 2013

You & Taxes After A Disability

SEATTLE (ESTRA) --April 15th of every year seems to come faster and faster.  The deadline for taxes being completed rarely changes. There are many options for getting them done.  Choices include paying a professional tax person, doing them yourself, or seeking help from community organizations offering free Income Tax Services.

A year seems like a lot of time, right?  How long will take for process to become routine?  How does this routine change if you have been in a car accident?  When struggling daily to getting needs met, how are you going to find time to get them done, or organized paperwork for someone else to complete them?  The answer to this question varies.  Yet, starting at least 2 months before they are due could allow enough time to eliminate excessive stress, which may take into consideration current health conditions, provide enough time for any additional paperwork required, and decide who will complete the forms. 

Furthermore, if you have questions, extra time helps to research answers and select one that best fits your needs.  Even when others are doing Tax Returns, understanding and staying informed on current changes in Tax Laws aids to be your best advocate.  The greater knowledge learned the less chance of missing or error in information.  Upon completion, review for accuracy, understanding, and possible missed deductions. 

Currently, it’s relatively easy to locate articles, videos, along with additional information on how to file income tax returns.  In my opinion, one of the best places to start is IRS Official Website.  Become familiar with its layout and learn where to look for information.  Print out or write down the phone number or online help links in case needed in future.  As with most conversation today, you may be recorded, so be as accurate as possible.  

In past decades, few people living in poverty were required to pay income tax. Perhaps it was due to the realization of this being a heavy burden on citizens already strapped for cash, usually robbing “Peter to pay Paul”, hence, typically not having money to pay for any additional expenses since survival is barely feasible.

However, today our tax structure may not be so kind.  Therefore, taxes could still be due, so do not necessarily think you are out of the woods, make sure to complete Income Tax Forms as soon as you can.  Otherwise, the penalties may end up exceeding the tax itself.

Remember, the option is available to hire an attorney in assisting with Income Tax issues, which may arise.  If making this choice, shop around and decide wisely.  If possible, try to work with the IRS if the taxes due will not significantly affect your life.  You can also contact the IRS to review what your options are and look on their online website.  In my opinion, it’s always wise to get a second opinion, or at least research options on your own.

The important thing is to realize your problems can be resolved, whether abled or disabled.  Remember, this helps our country provide the important services it needs such as our military along with other service agencies.  Each citizen doing his or her part makes life better for us all.  There are just certain things we cannot do on our own as easy. 

Lastly, there is software available that will help you figure what your income tax amount should be and whether money will be owed or refunded.  Continual use of these products may allow easier completion and aid in understanding and organizing information yearly. 

Most importantly, decide how you want to do them, and set up an annual routine that makes it less stressful, less costly, and more effectively uses your time.  This will leave more time for healing and rest.


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