Friday, February 8, 2008

Your February tax to-do list

Don't rush to file -- you may end up regretting it

Eager for the stimulus-package rebate, taxpayers are filing tax returns prematurely. One taxpayer in South Dakota filed his tax return, got his refund -- and then received another W-2. Sure, that's one filing strategy, but it's fraught with error.

Slow down. The rebates aren't coming anytime soon. The IRS still has to tool up. See full story.

You have plenty of time to wait for all your W-2s and 1099s. You even have time to wait for the second round of correct 1099s from the brokerages and investment houses, which send out the first round just to comply with the January 31 deadline.

What can you do in the meantime? Consider these seven to-do items.

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