Easy As Pie: A Brief Guide To First-Time Tax Filing

Filing taxes can be a tough cookie, especially it’s your very first tax return – no matter how many times you’ve been through the process, challenging questions may pour down on you like it’s some rainy season. Whether you’re an employer or a freelancer, accurately filing the papers needed will be of great help to steer clear of penalties and maximize possible refunds. But there’re lots of aspects to keep track of to do it properly, so this short guide will walk you through all the intricacies of the process so that you could make things right.


Gather necessary documents


The part that gets every novice is knowing what current forms exactly you need to collect, where you receive them and how to put them all together in a consistent pile. So, these are your key questions to take care of:

  • What documents should be in my ‘folder’? According to estimates, there’re more than 900 different IRS forms up for grabs. How do you know which ones you need to file? Make use of this excellent free checklist – tick off the items applying to you.
  • Where to obtain forms? Next, you’ve got your paperwork, but where do you find this 2019 W-9 form printable or some other appropriate documentation blanks? The best way is to look them up online at http://w9-tax-form.com.
  • How to fill them? No magic here – fill in your personal information and then carefully go through every line in the blank.


Know your deadlines


Remember: the official deadlines can be frustrating. Even though it’s supposed to be April 15, when the date falls on a special occasion or a weekend, it’s usually shifted to the next business day. However, there’re some other important dates you should keep in mind, too, like deadline for business organizations to furnish their 1099s of W-9s written and filed by their contractors and so on. In order not to miss anything, check out the Tax Calendar.


How to file W-9


Your options are:

  • Manually. Take into account that if you earn more than $66,00, you use special blanks offered by the IRS like, for example, this fillable W-9 form in PDF. Then you need to mail the documents to the service.
  • Through free software. If you make less, you’re eligible to utilize their tax-filing software called Free File guiding you through the whole process.
  • Automatically. Commercial services file every blank electronically and help with filling out. The option needs you to pay a fee, though.

Yet don’t forget that if you’ve done research and still feel like you’re missing something, it may be high time to consult an adviser.