IT'S MIDWAY TO TAX DAY; TIME IS TICKING TO FILING DEADLINE
Jackson Hewitt Shares Tips for Taxpayers Who Still Need to File a 2024 Federal Tax Return
The Tax Pros at Jackson Hewitt want taxpayers to take the following steps to meet the Tax Day deadline:
- Get documents organized. All paperwork should have been sent to taxpayers by
January 31, 2025 . If taxpayers still don't have the necessary documents, they need to request them from employers, bank providers, or whomever to supply the necessary documents. Jackson Hewitt's website has a document checklist to remind taxpayers what documents are needed. - Work with a tax professional. Tax returns are complicated and it's best to work with a trained, experienced, and knowledgeable Tax Pro. They can navigate the complex tax laws and help taxpayers file an accurate return and get them the biggest tax refund owed to them or pay the lowest tax liability. Taxpayers can schedule an appointment with a
Jackson Hewitt Tax Pro at an office nearest them. - Be accurate. It's important not to guess or make estimates on a tax return. If information is omitted or is different than what the IRS has in its system, the IRS will know. It will likely flag and delay the processing of a tax return and ultimately hold the taxpayer's refund. A recent Jackson Hewitt survey found that 43 percent of people thought the IRS would automatically correct a return if it included income that was not taxable. However, the agency does not fix mistakes on tax returns.
"Tax filing season moves fast, and
It's also best practice to file a tax return electronically, because it's the fastest and safest way to get the information to the IRS. Similarly, for those getting a tax refund, the Tax Pros at Jackson Hewitt recommend taxpayers get their refund electronically deposited via direct deposit or on a prepaid card.
Additional survey findings include:
- Nearly four in 10 people (39 percent) wrongly believe that taxpayers who file their Federal tax return late would not face a penalty from the IRS, even if a refund was due. In reality, all taxpayers face a failure-to-file penalty if they miss the Tax Day deadline and owe taxes. The penalty is five percent of the unpaid tax amount each month, which caps out at 25 percent. The IRS does not penalize late filing when it is a refund return.
- Respondents who will receive a tax refund this year plan to use the money mostly for savings/emergency fund/retirement (26 percent), pay down debt (14 percent), and buy groceries (12 percent).
- Most people (58 percent) are turning to a trusted tax professional for help on their taxes compared to just doing it themselves (27 percent), calling a family member (11 percent), or looking on social media (4 percent).
- As a first-time filer, taxes can be complicated and confusing when figuring out which tax deductions and credits apply to them (35 percent), gathering the right documents (26 percent), deciding whether to file alone or seek a Tax Pro (23 percent), and understanding what happens if a mistake is made (13 percent).
Jackson Hewitt is also offering an exclusive incentive to file before the deadline. For a limited time, valid from
With over 5,200 Jackson Hewitt offices nationwide, taxpayers can be confident knowing Jackson Hewitt is ready to help answer taxpayers questions and navigate the remaining tax season. For more information, visit jacksonhewitt.com. To find the nearest Jackson Hewitt office and book an appointment, visit jacksonhewitt.com/officelocator.
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. is an innovator in the tax industry, with a mission to provide its hardworking clients with access to simple, low-cost solutions to manage their taxes and tax refunds. Jackson Hewitt is devoted to helping clients get ahead and stands behind its work with its Maximum Refund Guarantee and Lifetime Accuracy Guarantee® (restrictions apply, see Jackson Hewitt's website for more details). Jackson Hewitt has more than 5,200 franchise and company-owned locations nationwide, including 2,700 in Walmart stores, making it easy and convenient for clients to file their taxes. For more information about products, services, or offers, or to locate a Jackson Hewitt office, visit jacksonhewitt.com or call (800) 234-1040.
Terms and Conditions: Pay No More Than
LIMITED TIME OFFER. MENTION THIS OFFER WHEN FILING 3/1-3/31. Valid for new clients (did not file prior year tax return with JH) at Jackson Hewitt locations at Walmart and other participating retail locations only for a limited time. Offer valid on current year federal tax preparation fees only and on no other product or service. Does not include state tax returns. Not applicable for Jackson Hewitt Online. May not be combined with any other offer, discount, or promotional price. Offer may be modified or discontinued at any time. Promo code D4R66. Most offices are independently owned and operated by Jackson Hewitt franchisees. All other offices are owned and operated by Jackson Hewitt Inc. or its affiliated entities.
Survey Methodology
The opt-in survey was commissioned by Jackson Hewitt
View original content to download multimedia:https://www.prnewswire.com/news-releases/its-midway-to-tax-day-time-is-ticking-to-filing-deadline-302394880.html
SOURCE Jackson Hewitt Tax Service Inc.
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