How to file your tax returns: 6 things you should know this year
Life Kit
NPR
4.5 • 4.9K Ratings
🗓️ 23 February 2023
⏱️ 13 minutes
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| 0:00.0 | This is NPR's Life Kit with tools to help you get it together. |
| 0:06.3 | Hey everybody, Mary El Segara here. It's that time of year. Time to file your taxes. |
| 0:12.6 | Yeah, technically you have until April 18th this year, but it's generally a good idea to start before then. |
| 0:18.6 | So you're not scrambling at the last minute to find a form or your accountants number or your password for that tax website you use. |
| 0:26.7 | I used to cover taxes and tax law as a reporter at Marketplace. |
| 0:30.6 | And one thing I would think about all the time is that we're just expected to know how to do our taxes, |
| 0:36.4 | but most of us didn't learn that in school. |
| 0:38.4 | And unfortunately the tax system in the US is pretty complicated. |
| 0:43.0 | So on today's episode, we're gonna do some tax filing 101. |
| 0:47.0 | Basically, what step should you take as the deadline approaches? |
| 0:50.3 | And we'll talk about what to consider for the year ahead too. |
| 0:53.9 | Because tax planning is something else we rarely learn, but it can save you a lot of money. |
| 1:06.9 | All right, I know taxes are not the most exciting topic, but you got to do them every year. |
| 1:12.0 | So let's jump right in. |
| 1:13.6 | The first thing you want to do, and this is takeaway one, figure out how you're going to file your taxes. |
| 1:19.0 | You don't have to pay anyone to help you. |
| 1:21.0 | You could download forms from the IRS, like the 1040, which is the basic tax form. |
| 1:26.0 | Read the instructions, fill everything out, and submit by mail or online. |
| 1:30.6 | That is easier if someone like a parent has walked you through it, |
| 1:34.5 | or if you have a simple tax situation, like one job in one state for the entire year. |
| 1:39.4 | It's not too bad if you're doing that with, you know, you just have one W2 and no other types of |
| 1:44.1 | income and it's pretty straightforward. |
... |
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