CCH Provides Last-minute Tips for Taxpayers Still Looking to File
RIVERWOODS, Ill., March 19, 2013
RIVERWOODS, Ill., March 19, 2013 /PRNewswire/ -- As the April 15 tax filing
date draws closer, millions of taxpayers still find themselves somewhere
between putting the final touches on their tax return and just starting the
process. CCH, a Wolters Kluwer business and a leading global provider of tax,
accounting and audit information, software and services (CCHGroup.com), offers
taxpayers looking to beat the clock with some easy tips for making the most of
Tips for Last-minute Filers
"Because of the delay to this year's filing season due to last year's 'fiscal
cliff' negotiations and a lack of early answers pertaining to several specific
taxes, many people may now find themselves rushing to get their taxes done,"
said CCH Principal Federal Tax Analyst Mark Luscombe, JD, LLM, CPA. "The risk
is that they may make mistakes, or overlook ways to maximize their refund."
Luscombe offers some easy tips to taxpayers on how to make the final weeks of
tax season much less taxing:
oTake advantage of last-minute tax savings.For example, taxpayers can
reduce their taxable income by as much as $5,000 or $6,000 if a taxpayer
is 50 or older, and meets income requirements. Taxpayers have until April
15, 2013, to contribute to their 2012 IRA.
oGet help!Taxpayers don't have to go it alone at tax time.Either turn to
a professional to help prepare and file the return, or try tax software
that will ease and speed the process. These means will also help ensure
taxpayers realize the full benefit of the credits and deductions they
oDouble-check the income tax filing before sending.If information is
omitted or a mistake is made, the processing of the tax return and/or
refund can be delayed. Among common errors, check to ensure all Social
Security numbers are correctly entered and that the tax return is signed –
either manually (if mailing) or with an electronic PIN (if e-filing).
oE-file the tax return and use direct deposit.The combination of e-filing
with direct deposit can mean receiving the tax refund in weeks rather than
the months it may take to get a refund check in the mail from the IRS
after filing a paper return.
oAdjust the 2013 withholding if taxes were overpaid in 2012.While many
like the idea of getting a refund, a large refund may indicate a taxpayer
is overpaying taxes throughout the year. By adjusting the withholding, a
taxpayer can ensure he or she is not paying too much throughout the year.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is the leading global provider
of tax, accounting and audit information, software and services. It has served
tax, accounting and business professionals since 1913. Among its
market-leading solutions are The ProSystemfx® Suite, CorpSystem®,CCH®
IntelliConnect®,Accounting Research Manager® and theU.S. Master Tax Guide®.
CCH is based in Riverwoods, Ill. Follow us now on Twitter@CCHMediaHelp.
Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information
services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the
Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are
included in the AEX and Euronext 100 indices.
SOURCE CCH, a Wolters Kluwer business
Contact: Eric Scott, +1-847-267-2179, firstname.lastname@example.org or Brenda
Au, +1-847-267-2046, email@example.com
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