Easy Money Guide For Tax Season From Check Into Cash

There are endless framed quotes by famous people, but one by Benjamin Franklin that we all know perhaps a little too well. “…but in this world, nothing is certain except death and taxes.”

After proudly serving customers and communities across the nation for over three decades, Check Into Cash is your dependable stop for all financial matters. With years of experience, we can help you navigate any financial headwinds that life presents. It is that time of the year again, tax season.

When it comes to money matters of any caliber it can weigh on us; but there is something unique about the tax season that often makes our sense of unease heightened and leaves us feeling anxious. Though we do have the ability to check our tax withholdings and pay stubs to see how much we are regularly paying; they sometimes don’t provide an adequate understanding of what a potential tax refund might be. So, it is often we may feel underprepared for the figure that awaits us.

It’s a common feeling that can linger in everyone, regardless of how many years they have been filing their taxes. And with so many ever changing tax laws, it can be hard to expect what the outcome might be. Fortunately, your dependable lender, Check Into Cash can help you avoid a money mayday® and stress less this tax season with tips to help you navigate this time of year with ease.

Get Yourself Tax Season Ready

When is tax season 2024? According to a formal press release from the IRS the first tax returns were accepted Monday, January 29th, 2024. Monday, April 15th, 2024, the final day to file to be on time. There is always the option of applying for an extension should the need present itself if you are unable to meet the mid-April deadline.

Despite the fact the IRS isn’t going to formally accept any tax returns until late January. That doesn’t mean you have to exclusively wait until this time to begin or even submit your tax returns. On the contrary, you can begin your tax season preparations as soon as you desire to do so and have all of your paperwork (W2’s, 1099’s, etc.) in order.

What Do I Need To File My Taxes

Despite the complexity of the subject, most filers only need a short list of items and documentation to get the ball moving.

• Personal Identification Details: Your Social Security Number or Individual Taxpayer Identification Number. You will also need this information for anyone that you want to claim as a dependent.
• Various Required Forms: From a W-2 form from your employer, to other applicable forms of your past year’s income like a 1099—MISC for freelance or self-employed income, or 1098-E for student loan payments to name a few forms you are likely to receive as early as mid-January.
• Health Insurance Information: If you receive your health insurance though an employer sponsored coverage this documentation should arrive at the same time as your other tax documentation. In instances where this isn’t the case, it should arrive from your provider directly via postal mail or a digital delivery option.
• Proof of Deductions and Credits: Receipts and documentation showing any applicable deductions you want to claim from the previous year such as donation of used household goods.
• Bank Account Information: To apply for your tax refund to be sent to you though direct deposit.
• Previous Year’s Tax Forms: Though you very well may have long since filed your tax returns from the previous year, you will still need your previous years’ filings as the IRS will need information from that documentation.
• State Tax Information: If applicable, not every state has state income taxes.
• Required Tax Forms or Software: This will vary based on your means of filing.

Cost Effective Tax Filing Methods

Just as everyone is unique, so are their financial circumstances and lifestyles. Thankfully there are plenty of options available to file taxes that can be beneficial to your life and your money. In the past, there were only limited options when it came to filing taxes. Either one found themselves poured over a cluster of papers as they filled out the tax documents by hand that must be mailed back to the IRS. Or they would need to seek assistance from an establishment, such as a personal tax attorney or commercial tax service, to have someone aid in this endeavor by paying a fee.

Today these two means remain a common and reliable means of filing your taxes. However, thanks to technological advances there are now more options at your disposal that can make the process quicker and more convenient. Such as having the option to file your tax returns digitally with e-filing by yourself with software. Or utilizing the increasing number of accessible tax preparation services at business we often frequent.

Also, thanks to alternative options, not only has the process of filing your yearly tax returns become a quicker and far more convenient process, but they have also provided more cost-effective options of filing. How you find your most cost-effective means of tax filing is a personal choice. One that you will want to consider before selecting your method and sending in your returns.

Depending on your comfort level, you might find that the best filing method for you and your budget is to utilize an online e-filling program and file your taxes on your own. Or if you wanted to ensure another set of eyes are on your calculations before you submit, there are many lower-cost and helpful options when it comes to tax preparation. Such as turning to your local Check Into Cash to obtain tax preparation services from a trusted third-party provider!

Tax services only available during tax season. Product availability varies by location.

Taxes Filed, Now What’s Next?

You have done all the preparation; gathered the documents, determined how you plan to file and made any necessary arrangements. After going over your information with a fine-tooth comb, you have completed your final review- and now it has been submitted.

Now with the task completed and your information on its way to be processed, there is nothing left for you to do. That is unless:

I Need My Tax Refund, Now

For some, the biggest highlight of tax season is receiving their yearly tax return’s refund. As the number of factors around a potential tax refund can fluctuate, one cannot always determine the exact amount of their refund. However, it’s not uncommon for one to begin to contemplate the use of the funds before they have already submitted their yearly tax returns. From intending to use the funds to pay off debts, tackle home improvement projects or other most costly endeavors, your mind may be racing with ideas.

But as we all know, life often happens, and financial issues can arise when we least expect it. One minute you might be daydreaming of using your tax refund to put money towards replacing an appliance, the next you are suddenly faced with an expensive car repair. Unfortunately, this happens well before you are slated to receive your tax refund and your budget has no wiggle room for a sudden bill.

In those cases, you can take a deep breath and stress less with Check Into Cash. With our array of convenient financial services like a flex line of credit, available in some states, you can quickly apply for the funds you need to help keep you moving at full speed.

Find Yourself Owing the IRS? Check In For Money Solutions

You have reviewed your tax returns time and time again. Recalculated every number and examined each and every document. Possibly your withholdings were not substantial, you didn’t qualify for the same tax credit as you did the previous year, or it was something else entirely. No matter how you attempt to configure your numbers, it keeps adding up and resulting in you owing some funds.

You can’t help but feel a growing sense of unease as you keep referencing the figure before you. Thanks to some unexpected bills last year, and maybe some overspending during the holiday season, your wallet has seen better days. You start to begin to mentally configure how you are going to reasonably be able to come up with the funds to pay the balance.

At Check Into Cash, we understand that life happens, but an unexpected expense doesn’t have to lead you to feel overwhelmed and send your financial state into upheaval. Avoid a money mayday® you may be able to turn your title into cash with a title loan from Check Into Cash. Getting the funds you need has never been easier, and even better you can keep driving your vehicle. Not all consumers or vehicles may qualify; certain restrictions apply. Not available in all states. See store for details.