It's that time of year again when we all start fantasizing about how we'll spend our income tax refunds. Perhaps you've got your sights set on a new car, or a family trip to Disney or splurging on a day at the spa. Maybe you're more practical and thinking about buying something you've needed like a new sofa, or being able to afford some needed home or auto repairs. Or maybe you're planning on enjoying a nice lunch, or putting the refund toward paying down your student loans or other debt, or perhaps even investing the money.
Before the refund check is put in the mail or deposited directly into your bank account, you have to actually file your taxes with the IRS, which means gathering all kinds of paperwork, sharpening some pencils, finding a good calculator and actually doing your taxes.
Get the ball rolling on your taxes and check out J.K. Lasser's your Income Tax, which is full of trusted information and tax planning tips to help you file your tax return, maximize your deductions and ultimately maximize your refund.
To file your return, you'll need the necessary tax forms, which are available for free from the Internal Revenue Service, opens a new window.
And don't forget to file your tax return with the State of Illinois as well. Forms for filing in Illinois are available from the Illinois Department of Revenue, opens a new window.
Many Chicago Public Library branches also carry tax forms. Call your local branch to check and see if they have tax forms available.
If all this makes your head start to hurt, you're in good company. Usually for me, two aspirin and a nap help the headache go away. Good luck!
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