The New York State Department of Taxation and Finance today announced important tax tips to follow and common errors to avoid this filing season.
“Our goal is to make tax filing as easy as possible for all New Yorkers,” said New York State Acting Commissioner of Taxation and Finance Nonie Manion. “By following this straightforward advice and being mindful of common mistakes, taxpayers can avoid refund delays and meet their tax obligation in a stress-free way.”
Tips to follow:
3. Use direct deposit – Have your refund directly deposited into your bank account and receive your refund up to a week faster. Be sure to double check the routing and account numbers for your account.
5. Always file on time – To avoid penalties and interest, file on time—even if you can’t pay in full; the penalties are much higher for late filing than for late payment. 2016 tax returns are due by Tuesday, April 18.
8. Get the credits you deserve – Income tax credits can increase your refund or reduce the taxes you owe. One of the most valuable is the Earned Income Tax Credit. Visit the Tax Department website, www.tax.ny.gov/eitc to review eligibility requirements and see if you qualify.
9. Check your refund status online or sign up for email alerts – These are the fastest ways to getupdates on your refund.
Thoroughly review your tax return before you submit it to avoid common mistakes. Errors increase processing time and delay any refund due.
Here’s a to-do list to help avoid the most common filing errors:
1. enter whole dollar amounts;
2. do not use (brackets) to show a loss;
3. enter withholding and estimated tax on the correct lines;
4. double check Social Security or identification numbers after entering them;
5. make sure you use the correct postage on your envelope;
6. indicate if you maintained living quarters in New York City;
7. include the total amount of tax withheld during the year;
8. include New York City and Yonkers tax, if applicable; and
9. enter the correct mailing address.
For more information