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Moved Since Filing Last Years Taxes?
By Richard A. Chapo
We are a migratory society. When we move, each of us goes about the joyous task of trying to get our mail forwarded to our new address. Ah, but what about your taxes?

Moving is more or less the definition of misery. At least in my opinion. Simply put, I hate it. You probably feel the same or at least close. One of the problems I have with moving is dealing with my mail. Yes, I submit the forwarding notice to the post office, but they seem to take about 30 days to get around to it regardless of what date I list on the notice. This ultimately causes problems since bills usually have a date you have to pay by.

If you moved last year, there is probably one other item you forgot to give notice on. Yep, your taxes. Despite the various conspiracy theories out there,

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the IRS is not watching you on a daily basis. If you moved, they probably don’t know about it. As we approach the tax filing dates this year, what do you need to do to get the problem worked out? The answer is pretty simple.

Your first option is to actually go ahead and notify the IRS of your move like a responsible adult. Since we are talking about the IRS, you know what is coming next. Yep, another form. In this case, you want to get a copy of form 8822, fill it out and send it in. You should be able to download it off the IRS website.

Your second option is what I like to call the lazy adult option. That would be me. When you file your taxes this year, simply write in your new address. The IRS will automatically update it. Make sure you print it and do so clearly. Otherwise, some little grandma in Illinois may get audited!

As you can see, the change of address process is pretty simple. There is one other thing you should keep in mind. If you had a tax refund due last year, did you receive it? If not, it may be because you moved and the IRS can’t find you. Think it doesn’t happen? The IRS often ends up with millions upon millions of dollars in refund checks it can’t deliver. Tax refund checks are not forwarded by the post office, so you might go check to make sure you received your refund. If not, contact the IRS and let them know. They will hold the refunds for three years. After that, you forfeit the right to receive them.

Article Source: http://www.Article-Warehouse.com

Richard A. Chapo is with BusinessTaxRecovery.com - providing daily tax tips.




Here are some more estate planning articles...

Iras--401-k-s--pensions-can-be--tax-trap--for-high-earners
By Keith-Mohn
Are you planning on leaving any dollars in your pension, 401(k) or IRA to children or grandchildren? Would you be surprised to know that the vast majority of these funds will end up with state and Read more...
Online Tax Filing: Why File Taxes Online?
By Robert Shaw
Online tax filing provides an easy, hassle-free way of filing your taxes. Even if you’ve never filed taxes before, online tax filing will get you through the process, quickly and Read more...
Do Your Own Taxes With Online Software
By Jeremy LaDart
Taxes are so complicated that it has become a year-round job just to keep up. Everything you do throughout the year has an impact on your taxes. Did you get married? Did you buy/sell a home? Did you Read more...
Your Tip Earnings And Taxes
By Richard A. Chapo
If you work in a service where you get tips, guess what? The IRS expects you to report them and pay taxes on them. Your Tip Earnings and TaxesThe internal revenue service takes a very Read more...
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New York sues banks over electronic mortgage system (Reuters)
Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.

The process of arranging your financial affairs so that your wealth will be distributed according to your wishes after your death and avoid undue taxation.