| Nobody knew it at the time, but last April was one of | | | | and their refunds are likely to be larger. (Why? Imagine |
| the best times ever to miss the tax filing deadline. | | | | someone who was earning $50,000 a year, and |
| Why? Because the IRS is swamped, they need the | | | | withholding at the normal rate, but who got laid off |
| money, and they're one of the easiest creditors to | | | | halfway through the year and didn't file. That person |
| negotiate with. It's surprisingly easy to start your 2008 | | | | was withholding $270 a week, but only owed $204 a |
| returns; here are the steps you can take right now: | | | | week, leaving a refund of over $1500!) |
| | | | 4. Have you decided who will help prepare your 2008 |
| 1. Do you have your W-2 or 1099? If not, call your last | | | | return? Deciding to file your 2008 returns is a great |
| employer. If that doesn't work, just hold on (you can file | | | | start, but what you really need is someone who can |
| your 2008 returns without them, if necessary). | | | | handle the tedious work of preparing it. Especially with |
| 2. Do you have your bank statements, brokerage | | | | a late tax return, mistakes can be costly. Finding a |
| statements, and mortgage records? You'll want them | | | | company that specializes in 2008 returns can save |
| on hand for your 2008 returns, too. They're a key | | | | you lots of worry - and some serious cash, if they |
| source of information, not just on what you earned, but | | | | catch a credit you missed the first time. |
| on what tax credits you can get for things like paying | | | | Filing your 2008 returns is a great way to a very scary |
| interest or selling a losing stock. | | | | creditor, the IRS, to give you a break. Late filers can |
| 3. Do you know how much of a refund you expect to | | | | often negotiate a payment plan, giving them months or |
| get, or how much in back taxes can afford to pay? | | | | even years to pay after filing 2008 returns. Don't miss |
| Don't worry if it's a scary number. Late tax filers are | | | | a chance to stop worrying and start fixing! |
| more likely than the average taxpayer to get a refund, | | | | |