1. What documents do I need to file my taxes?
You’ll typically need:

• W-2 forms from employers

• 1099 forms for other income (freelance, investments, etc.)

• Identification information (SSN or ITIN)

• Records of deductible expenses (e.g., mortgage interest, student loan interest, medical bills)

• Previous year’s tax return (optional but helpful)

2. When is the tax filing deadline?
For most individual taxpayers in the U.S., the deadline to file federal tax returns is April 15 each year. If it falls on a weekend or holiday, it’s moved to the next business day. Extensions can be requested, giving you until October 15, but payment is still due by April 15 to avoid penalties.

4. What is the difference between a tax credit and a deduction?
A tax credit directly reduces the amount of tax you owe, dollar-for-dollar. A deduction reduces your taxable income, which can lower your overall tax liability. Credits are generally more valuable than deductions of the same amount.

5. What happens if I miss the tax filing deadline?
If you miss the deadline and owe taxes, you may face late filing and late payment penalties, plus interest. If you’re owed a refund, there’s no penalty for filing late—but you must file within 3 years to claim it.

6. What should I do if I made a mistake on my tax return?
If you discover an error after filing, you can file an amended return using Form 1040-X. It’s best to correct mistakes as soon as possible to avoid penalties or delays in refunds.

7. How long does it take to get my tax refund?
If you file electronically and choose direct deposit, most refunds are issued within 21 days of the IRS receiving your return. Paper returns or mailed checks may take longer.