TYLER, Texas (KETK) – The 2023 tax season begins Monday and ends April 18th. People have plenty of time to file their taxes but experts say to file early!
A Tyler CPA, Tom J. Fitzgerald explained that the key to preparing to file your taxes is being organized. “You have to get your data together and review your checkbooks as a reminder of things that you’ve done over the year,” said Fitzgerald.
He recommends keeping tax-related forms in a file folder. “It’s really a matter of organization, and in the next few weeks people are going to get a lot of tax information through the mail, W-2’s, 1099’s, mortgage statements for the interest they pay on their homes,” said Fitzgerald.
When it comes to a 2023 tax season change, Fitzgerald shared what might be the most impactful. “Tax credit has been revised downward for about 6,000 a child for real young children to about down to about two, so that’s going to have the biggest impact for the amount of taxes people are going to owe,” said Fitzgerald.
We met with Mechele Mills, the President/CEO at Better Business Bureau in Central East Texas. She stressed to do your research on where and who you are looking to file your taxes with.
“Consumers lose millions to tax scams every year so it is really good to talk about what they need to be watchful for,” said Mills. She recommends not giving out personal information unless you verify the request. She explained scammers usually present big promises, which people should always double-check.
Before finalizing your filing, always review what you are signing. “Look at your contract carefully, if they are promising you an earlier tax return, take a look at their interest rate that they are going to charge you before doing that,” said Mills.
Many people will file online, and Mills mentioned that finding someone local is always great because they are more accessible.