Best Tax Preparation Services in Aspen Hill, MD

5 Things you Should Do Now to File your 2022 Tax Return Hassle-Free and Save Money Make sure that everything about those deductions—how much was spent out-of-pocket; what type of expense was incurred; if there were any related expenses—is clearly spelled out in each file with supporting evidence such as receipts and bills showing the amount paid at checkout counters. Frequently Asked Questions Can I File my tax return by myself? Yes, you can. But it is always recommended to hire a trained tax pro like me to make sure you maximize tax savings and avoid making punishable mistakes on your return. How do I File a return? You can file electronically or using paper filing (through mail). But the IRS encourages taxpayers to file electronically to avoid losing some information or delays. What happens if don’t file taxes? This all depends on whether you owed taxes or not. But generally, if you fail to file your taxes on time, could encounter a Failure to File Penalty. The penalty for failing to file represents 5% of your unpaid tax liability for each month your return is late, up to 25% of your total unpaid taxes. If you’re due a refund, there’s no penalty for failure to file If you don’t owe taxes, nothing happens. Low-income earners falling below the minimum tax bracket usually don’t owe taxes. But failure to file may make you lose some government benefits such as the Child Tax Credit. Read More:...