Last Minute Tax Tips for Tax Procrastinators; You Can Still Save Money and Beat the April 16 Deadline.
SAN DIEGO--(BUSINESS WIRE)--April 13, 2001
With only four days left to file your taxes, the tax experts at Intuit Inc. (NASDAQ:INTU), the makers of Quicken(R) TurboTax(R), the #1 rated tax software, have some last-minute tax preparation and filing tips to help you weather the storm and perhaps save money.
According to IRS statistics, 20 percent of Americans wait until the last two weeks to prepare and file their income tax return. If you're one of these last-minute filers, are you taking advantage of all of your options to relieve some of the stress associated with preparing and paying your taxes?
When you are preparing to file your return this weekend, consider these tips to help make the experience less "taxing" while maximizing your deductions:
-- PREPARE YOUR TAXES ON THE WEB: Not surprising, preparing your taxes electronically is one of the biggest time-savers and stress relievers available to you. Online tax preparation tools like TurboTax for the Web (http://www.turbotax.com/), take the hassle and stress out of preparing your taxes and is 20 times more accurate than the old paper and pencil way. It can also help you find deductions you may not know you are eligible for and ends the confusion associated with filling out confusing tax forms. Plus, it's available whenever you're ready without having to download or install software. Just visit turbotax.com. -- FILE ELECTRONICALLY: By electronically filing your tax return, you can get your refund back in less than half the time than if you mail it. And this year, e-filing is completely paperless with the IRS's new Self-Select Pin program that further speeds filing your return. -- DIRECT DEPOSIT: If you are one of the more than 70% of Americans who receive a refund each year, have it direct deposited into your bank account. This speeds up the refund process further with some taxpayers receiving their refunds in as little as 10 days. -- OPEN AN IRA: Most taxpayers forget they have until April 16 to contribute up to $2000 as a tax deduction. If you're doing your taxes and it shows you may owe, why not contribute and reduce your tax liability. -- COMPARE LAST YEAR'S RETURN: You may have thought last year's return may never see the light of day but it's good to give it the once over this year. Compare your 1999 tax return to this year's to see if you've missed any deductions that may help this year. -- GET THE MOST OUT OF YOUR DEDUCTIONS: Taxpayers lose hundreds of dollars a year because they don't know what they can deduct. The most often missed deductions are: student loan interest, mortgage points, health insurance premiums for the self-employed, adoption credits and child-care credits. -- GET SOME MORE TIME: And if you just can't wrap up your tax return in time for the April 16 deadline, file for an extension, which will allow you until August 16 (October 16 with an additional extension) to file your 2000 income tax return. REMEMBER, if you owe, you must still pay ANY TAXES due by April 16 or face penalties.
About Quicken TurboTax
Quicken TurboTax software is the #1-selling tax preparation program, with approximately 80% retail revenue share this tax season, according to PC Data . Its web-based counterpart, the TurboTax for the Web(SM) service, is the most popular site for online tax preparation and filing services. In addition, Intuit offers TurboTax Home & Business, designed for the sole proprietor. The Automated Tax Return feature is included at no additional charge in all of these versions of TurboTax. With 17 years of personal finance expertise, the TurboTax family of products saves time and money for more than 13 million Americans each year.
About Intuit Inc.
Intuit Inc. (NASDAQ:INTU) is the leading provider of financial software and Web-based services for consumers, small businesses and accounting professionals. Its flagship products and services, including Quicken, QuickBooks(R), Quicken TurboTax and QuickenLoans(TM) simplify personal finance, small business management and payroll processing, tax preparation and filing, and online consumer mortgages.
Founded in 1983, Intuit has annual revenues of more than $1 billion and reaches 22 million customers with nearly 5,000 employees in 13 states and four countries. More information can be found at www.Intuit.com.
Intuit, Quicken, TurboTax and QuickBooks are registered trademarks of Intuit Inc. Quicken.com and Quicken TurboTax for the Web are trademarks and/or servicemarks of Intuit Inc.
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|Date:||Apr 13, 2001|
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