Now that March has arrived, it’s time to get your tax papers organized so that you can meet the April 15 deadline without any last-minute scrambling.
You’ll be able to gather 80% of your information pretty quickly — but the last 20% will take a lot of time! By getting started now, you’ll be able to identify which information is going to be the hardest to obtain, and you can start the wheels turning while there is still sufficient lead time.
The web site of tax experts H&R Block provides a customized checklist of what information you’ll need to pull together. Even if you’ve been pretty good about keeping your tax records together throughout the year, the checklist will be a good memory jogger for all the bits and pieces required.
I’ll come back to the question of tax records after April 15, to help you be better prepared for next year.