All across America people are collecting forms, sorting receipts, and assembling documents — all in an effort to deal with the dreaded tax man. For many, the whole prospect of filing taxes is a frightening experience, but it doesn’t have to be that way. Yahoo Finance lists seven common tax terrors and how you can deal with each of them. Their list includes:
1. Afraid I can’t do my taxes myself. The remedy: Don’t be afraid to ask for help.
2. Afraid I’ll overlook a tax break. The remedy: Accept that tax filing is going to take some homework.
3. Afraid I’ll make a mistake that will cost me money. The remedy: Slow down.
4. Afraid that my tax adviser is incompetent or a crook. The remedy: Everybody makes mistakes, even tax professionals.
5. Afraid I’ll get audited. The remedy: Make sure you can show an IRS examiner why you filed as you did.
6. Afraid to e-file because my personal info could be lost or stolen. The remedy: Make sure your computer is secure.
7. Afraid to file because I can’t pay. The remedy: File!
Some people solve these problems by hiring a tax professional, others use tax software to ease the pain, and many forge ahead on determination and plow through their fears (and the stacks of paperwork) simply to “get it over with.”
How about you? Any tax fears out there? If so, what’s your method for dealing with the scary tax man?
7 Tax Terrors and How to Overcome Them [Yahoo Finance]