It pays to file early.
Tax forms are typically available at the end of January. The Internal Revenue Service (IRS) processes returns on a first-come, first-served basis so, if you’re due a refund, the sooner you file, the sooner you can get your money.
Stay vigilant against fraud attempts.
Tax forms and supporting documents should be saved, but shred any other sensitive items you no longer need, especially anything with identifying information.
Pull money out of retirement accounts on time.
Individuals who are 73 years old and older are required to pull money out of their retirement accounts each year (this is called the Required Minimum Distribution or RMD) and must do so by December 31st to avoid penalities.
Keep track of fourth quarter payments.
Fourth quarter payments are still due by January 15, 2024, and interest and penalties may accrue if not paid on time. Keep good records so you file the proper amounts on your final tax return.
