Tax prep

While you can't file your 2021 taxes until next year, you can start preparing now to make the process as simple as possible. Here are some things to keep in mind:

• Start gathering your paperwork. Open all your mail in December and January to make sure you’re not missing anything. Print out or save copies of electronic statements and year-end documents that you'll need.
• Think about what's changed. Did you file for unemployment during the pandemic? Are you receiving advance payments of the Child Tax Credit? Your tax preparer will need to know about these things to make sure you're getting the right refund.
• You may qualify for free tax preparation. If you're elderly or if your income was less than $57,000, there are services that can help you. Check the IRS website at irs.treasury.gov/freetaxprep or call 211 to speak with the United Way and ask for free tax preparation services.
• Don’t pay to borrow your own money. Many commercial tax preparers offer refund anticipation loans or checks, and the interest on these loans can run as high as 200%. If you need your refund immediately, file as soon as you can and choose direct deposit to receive it as quickly as possible.
• There's someone on your side. If you have tax issues, there’s a taxpayer advocate office independent from the IRS that can help you. Learn more at taxpayeradvocate.irs.gov.

For more tips on how to save and budget your expenses or to talk about your individual financial situation, fill out the form below.