Common Tax Fears and the Resources to Help You Deal with Them

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Published February 8, 2010 | By Jacqueline

These are the common fears about filing taxes and I’ve given links to excellent resources to help you deal with them.

I’m afraid I can’t do my own taxes – This one is simple. Doing your own taxes is a nightmare, and it’s a waste of your time. You should e-file, or get help from someone you can trust. Here are three excellent places to e-file your taxes this year:

I’m afraid I’ll miss a tax break – Assuming that you do your own taxes, you probably will. But, it’s not the end of the world. If you only overlook a few, then you are not missing out on much of a savings and paying someone to file your taxes for you would not be much different, or even more costly. Here’s information about commonly missed tax breaks.

I’m afraid I’ll mess up and end up paying too much – Again, this is a legitimate concern. Tax law makes a labyrinth of paper work that is almost impossible to fully understand, unless it’s your profession. But, if this is your major concern, I would recommend e-filing or getting personalized help.

I’m afraid to e-file because of identity theft – Your identity is much more likely to be stolen when you make a purchase at Amazon than when you e-file your taxes. All of the big companies that offer free e-filing service, establish a secure connection with your computer before you begin the process of entering sensitive personal information. But, to be on the safe side, DON’T TRY TO FILE YOUR TAXES ON STARBUCKS WIFI! Or any other wireless network in use by a large number of strangers. It’s dangerous. In fact you may consider turning off your wireless network at home, and plug your Ethernet cable directly into your computer. That will give you a pretty secure connection, especially if you are also using anti-virus and anti-spy-ware program. For more information, check out Bankrate.com

I’m afraid to file because I can’t afford to pay – Not filing your taxes is very risky business. If you owe tax but don’t file them on time, the penalty is usually 4.5 percent. Now, if you literally cannot come up with the money before the middle of April, you may qualify for an extension. http://www.irs.gov/formspubs/article/0,,id=98155,00.html

Hopefully, these resources about how to deal with common tax issues will help you live a little more fearlessly this tax season.