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Tips for Filing Your 2012 Tax Returns

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  • Description

    TurboTax V.P. Bob Meighan offers tips for filing your taxes.

  • Duration 4:12
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This transcript is automatically generated

Business.

If everyone's favorite time of year now not everyone's just -- Taxi then they aren't -- indeed to navigate this year we -- a delayed opening we got an increase in.

So thankfully botany and CPA and vice president with Turbotax is here he is almost every year thankfully -- out to dozens of filing season -- I think the one thing that people need to take comfort in knowing is that all that.

Garbage we've been talking about with increases in tax rates and stuff doesn't truly affect their tax return.

This year.

That's correct 2012.

Is pretty much the same as 2011.

In spite of all the.

-- -- Citi about the fiscal cliff most of those changes affect 2013.

And beyond so.

-- -- -- -- Our congressional leaders they extended all the Extenders that -- all that tax breaks for teachers things like that.

The AMT patch was put in so for the most part actor as you said after all back.

Everything is kind of status -- With the exception that the IRS is announced that they're opening their doors January 30 instead of January 22.

So that delay means that people's refunds will be slightly delayed but the thing that I'm telling everyone.

And the most important thing is file now.

We're open for business others are open for business but by filing now.

Your first in line to get your refund when the IRS does open their doors so we're accepting returns and as soon as the IRS opens their doors.

We're gonna fight like -- to get your return and so it's.

Very -- -- for anyone to canning that means though that if you've got your W -- early because often times they don't come till the end of January but you're saying the second you get it.

Finally get it and.

Absolutely.

In addition to filing early.

File electronically.

Hand -- you get in line before everyone else particularly those that are manually filing -- sending it by the now and then select direct deposit.

Most people filing in January if every February are getting a refund.

It's like in direct deposit means the refund those directly into your bank account and you'll have -- a few days earlier.

Right and generally within two weeks and your right to those of us that owe money to the great -- to the last -- second to write that check.

There's been a lot of talk about identity theft and fraud and are you worried about that especially online.

People putting their information online does that worry you.

We take you know fraud very seriously we work very closely with the IRS but it is an IRS issue and we're working with them for them to put in the right procedures.

And processes to ensure that the fraud.

Gets eliminated at the front -- But there are some -- common sense practices people can.

Can do to safeguard their identity for example safeguard your Social Security number -- don't give it out unless it's absolutely need it.

You get a lot of statements in the mail when you -- and you throw them out.

Shred of people dumpster dive for Social Security numbers -- so be careful there.

The second thing is.

Check your credit report frequently there are many free credit reporting.

Reports that you -- gets -- check them periodically.

And then last if you are affected by -- and any respect the IRS has a special division dedicated to helping you get that resolved.

Quickly before -- let you go talk about your mobile apps and what people can do on the -- It's amazing -- people are skeptical when you say you can -- -- return on the iPhone right tablet.

It's very possible today given the technology in the -- the ability to scan your W two and have all that information transfer right -- -- -- it computes and I'm telling you within five to ten minutes with -- tax you can file -- return.

Excellent email list you losing his second -- doing this this third third year and it's for people who just have a W two it's it's really cool 45 million Americans have a very simple return where they can use that.

By the gonna come back and we'll talk about 2013.

Because we're not worried about that as far as tax prep -- But the -- -- CPA and vice president and quick note shares of Intuit that is the parent company of Turbotax hitting an all time high today.

-- despite nasdaq's decline in staff.

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