With the holidays now over and the new year upon us, we become grudgingly aware of the impending tax season and commence plotting how to best assemble the documents critical for accurate filing. Though the prospect of preparing a return seems daunting, taxpayers can adopt a few resolutions and profoundly simplify the task.

The Baltimore tax attorneys at Rosenberg Martin Greenberg are always prepared to assist taxpayers with tax planning and compliance now and throughout the year, alleviating the anxiety that so often accompanies even routine interactions with the IRS and state revenue authorities.

Early filing resolution

One of the wisest tax-related resolutions for the new year is to meet any filing obligations as early as possible. Filing as far ahead of the deadline as possible is an excellent way to determine whether any important documents are missing with sufficient time to secure them before the deadline. A little extra time to prepare returns also affords preparers the opportunity to double-check items and correct any errors discovered along the way. And wonderfully, it is more likely that a refund will be available for savings spending after a taxpayer files a return early. Taxpayers who wait until the eleventh hour to file could be waiting a while for that refund check.

Request filing extension if needed

Naturally, if circumstances make it difficult or impossible to gather the necessary information and documents well in advance of the April 15 filing deadline, do not hesitate to seek an extension from the IRS. There is no cost associated with submitting an extension request, and, in most cases, there is no increased risk of incurring a penalty or of exposure to an audit. Still, any taxes due shown on the return must be paid by the standard filing deadline in order to avoid interest orpenalty assessments. In the end, extensions are often a sensible way to buy additional time to verify calculations and ensure accuracy.

Seek professional tax assistance

Many taxpayers face unanswered questions and concerns regarding their potential tax liabilities. By consulting a seasoned tax professional, you can receive the guidance necessary to achieve and maintain full compliance with state and federal tax obligations. At Rosenberg Martin Greenberg, we are committed to providing clients with valuable tools useful not only in this tax year, but also planning and compliance strategies sure to offer benefits well into the future.

If you are interested in scheduling a confidential consultation concerning any personal or business tax matter, contact a Rosenberg Martin Greenberg attorney at 410.727.6600.