Overcoming Tax Fears

I saw the trailer for the latest psycho horror film, “The Crazies”, and it got me thinking of tax season.  In short, a small town taken over by zombies (for a competent review don’t rely on me, ask a professional).  The clips I saw had lots of screaming, scary looking people (those would be the zombies), and scared looking people (those would be the people the zombies were scaring).   Here’s a clip, then I’ll get to what this has to do with taxes (as if you haven’t already guessed).

Just a coincidence that “The Crazies” is playing during tax season?  Probably.  But both can be scary.  And many would argue that doing your taxes will give you more nightmares than the movie.  1040 fear comes around once a year.  I know, I suffer from it.  Just ask my wife.   So when I came across a list of  6 tax terrors on Bankrate.com, it brought back nightmares.

They include:

  • Afraid I can’t do my taxes myself. A fear that’s too often true because of the complexity of the tax code. The remedy? There’s help out there. The IRS says around 80 percent of us rely on tax software or tax pros to do our taxes.

Here are two of related fears:

  • Afraid I’ll overlook a tax break, and
  • Afraid I’ll make a mistake that’ll cost me money. The remedy?  Slow down. Read the instructions. Answer all your tax pro’s questions. You still have plenty of time to do it right.

And maybe everyone’s biggest fear:

  • Afraid I’ll get audited. Good news here, the fear tends to be much greater than the reality. But if you are audited, make sure you keep good records, and can prove the tax break was valid.

For all six tax terrors, and how to overcome them, check out bankrate.com.

The point is, tax season may be stressful, but don’t be a zombie (I know, that’s real cheesy).  There are some things you can do to take the paralyzing fear out of filing, and conquer your tax terrors.

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