Let the annual tax season begin! The time has once again come to submit our taxes to the IRS. This task is never an easy one, so it's best to be prepared!
Don’t forget your mortgage documents! There are potentially dozens of documents that the IRS would like submitted with your taxes, but a couple to remember are:
If you paid on a mortgage in 2020, provide your 1098, which is your statement of interest paid.
If you purchased a home in 2020, make sure you have your Mortgage Closing Settlement Statement.
Make sure to complete your taxes before or on April 15th, 2021. Remember that the earlier you submit your taxes, the earlier you will be able to get your refund! On average the IRS issues about 9 out of 10 refunds in less than 21 days from the day they accept a return, for more information, please go to https://www.irs.gov/refunds.
If you are looking for a great way to use your refund, remember that you can put it towards a downpayment on a new home, or some updates in your current home!
For more information about how to complete your taxes this year, visit https://www.irs.gov/filing/individuals/how-to-file.
I know how tax season can be daunting but find it best to prepare your documents early. If you have decided to get assistance with your taxes this year and would like recommendations on local tax professionals in Sarasota county, please email me at angie@gulfsidemtg.com.
