If you haven’t gotten around to getting your tax info together and sending it to your accountant yet, here’s a quick list of tips that could help speed up the filing process:
1. No man left behind
Make sure you have all your tax docs and relevant info to send in one complete package. Use your 2015 tax return as a guide to see if you may have forgotten something and make a note of any new or different activity that occurred in 2016 (change of address, new job, security sales, purchase of a home, etc.). Giving everything to your accountant at one time saves a lot of time, eliminating the back and forth of asking for and receiving missing documents and info.
2. Include a copy of your driver’s license or state-issued ID
A new requirement this year is to include information found on your driver’s license or state-issued ID. This was put into place to hopefully help prevent identity fraud. The information required to be reported for all states is the license number, issue date, and expiration date. If you have a New York issued ID, you are also required to include the document number.
If you are a New York resident, click here to see where to locate this info on your ID.
3. Confirm your bank info
Another new requirement this year to battle identity fraud is to acknowledge confirmation of your bank account information. If you usually prefer to have your refunds directly debited and balances due directly taken out of your account, confirm the bank account info with your accountant (bank name, routing and account number, and whether it’s a checking or savings account).
4. If you need to, request an extension
If you know you won’t receive all of your tax documents by the deadline or feel like you need more time to get everything together, request an extension. Your accountant will undoubtedly agree at this stage of the game and it will give everyone involved some breathing room and more time to complete the return without the pressure of the April 18 deadline looming on the horizon.
With just two weeks to go, little time savers like these make all the difference.
PS – If you’re still shopping for an accountant, I know a pretty reliable one; see his contact information below 🙂
Nick Aiola is a CPA located in New York, NY. Nick provides tax and accounting services to a wide range of clients, including individuals, businesses, and fiduciary entities.
Phone – (646) 397-9537
Email – email@example.com
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Twitter – @nicholasaiola
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