Software, web filings available
By HANK EZELL
The Atlanta Journal-Constitution
April 10, 2005
ATLANTA — By midnight Friday, 3.8 million Georgians are expected to file their state and federal income tax returns for 2004 and to pay whatever taxes they owe.
Some will see their payments as their shares of support for the United States and the state of Georgia. Another portion, perhaps larger, will see them as far too much to pay.
Just about all of us, from both groups, will see the whole thing as a colossal pain in the neck.
Whatever you think about the income tax, it's important. Last year, nationwide, 133 million taxpayers forked over $990.25 billion. That was roughly 49 percent of the federal government's income, not counting the amount it borrowed.
Is the whole thing a pain? You betcha. The Internal Revenue Service says preparing the standard Form 1040 will take, on average, most of three hours for record-keeping, nearly four hours for figuring out the law and the forms, more than six hours filling it out, and 34 minutes to make copies and mail it.
The total damage, for the dead-center average Joe or Jane Citizen: 13 hours and 35 minutes.
Here are some tips for making the process a little easier:
Stop putting it off. If you dawdle until Friday afternoon, you are at risk of missing chances to save, flubbing something as simple as addition and subtraction, yelling at someone you love, or all of the above. Who needs the extra hassle?
Go online. The IRS Web site is a lot easier to navigate than in years past. One of the most obvious features of www.irs.gov is the 1040 Central link, where you can find lots of help. The state's Web site, www.gatax.org, also is helpful.
Use tax software, if you can. You can buy it cheaply, or at www.irs.gov it's free. Software takes care of adding, subtracting and checking your math, and it marches you through every item you need to fill in.
Use the simplest form you qualify for. Especially if you're doing it the old-fashioned way, on paper. Remember that Form 1040A is easier than Form 1040, and Form 1040EZ is the simplest of all. These easier forms are OK if your taxable income is below $100,000 and you meet certain other requirements.
Double-check your math. An amazing number of tax returns are delayed while the IRS sorts out the simplest math errors.
Check all the rest of it. This is true: Last year 677,000 people got their Social Security numbers wrong or didn't enter them at all.
Use direct deposit. You'll get your refund sooner if you have it deposited directly to your bank account.
Can't finish? You can get a four-month extension by filing Form 4868. Remember that you can put off the paperwork but not the payment. You'll have to estimate how much you owe and pay that amount, or pay a penalty.
Read more "Bank on Hank" columns
