According to a 2024 report from the Treasury Inspector General for Tax Administration, 493,072 tax returns were placed into production for the FixERS tool to fix tax return errors. Even the smallest mistakes in your tax return can cause a delay in your refund by weeks or even months. 

Taking a structured approach to gathering documents, filing forms, and tracking deadlines reduces your margin for error. In this guide, we’ll explore how to be better organized by using a digital vault like Trustworthy to keep you on track this tax season.

Key Takeaways 

• Being organized for tax season can avoid errors that could delay how quickly your refund is processed.

• Common errors caused by disorganization are missing documents, inaccurate numbers, missing information, and incorrect deductions. 

• Key steps to staying organized include gathering all necessary tax documents, tracking important tax deadlines, and organizing financial records into categories. 

The Role of Organization in Speeding Up Tax Refunds

For many taxpayers, a tax refund is one of the biggest checks they’ll receive all year, so filing early and correctly is key to getting that refund faster. 

In addition to filing correctly, former IRS Commissioner Danny Werfe explains that the fastest way to get your tax refund is by filing electronically and picking direct deposit as your payment method. By doing this, “Nine out of 10 taxpayers will see their refund within 21 days, and often sooner,” he says. Amended returns or returns filled via mail can take up to four weeks and even longer for corrections. 

Charnell Ward from Pearl Lemon Tax, an international tax service that deals with American clients, says, “Early and organized tax filing reduces the possibility of delays brought on by errors, additional reviews, or missing data.”

Here’s what you can expect with unorganized tax filing: 

• Missing documents: Being unorganized is a sure-fire way to submit tax returns with missing forms.

• Errors in the filing: The IRS has released a list of common mistakes that delay tax returns and simple errors like misspelled names, missing Social Security numbers, and not signing their returns.

• Math errors: One of the most common refund delays is calculating errors, from entering figures incorrectly to incorrectly working out their credits and deductions.

• Miscommunication with tax preparers and accountants: Not having your documents organized in one location can make it challenging to keep an accurate overview of your taxes, which means your account or tax preparer won’t know either. 

Avoid these common tax return mistakes by using a secure and centralized storage tool like Trustworthy. With easy access, automated reminders, and a centralized location, you’re not left scrambling for scattered documents.     

Key Steps to Stay Organized for Tax Season

Follow these steps to keep your documents organized all year round so you’re prepared for tax season.

Gather All Necessary Documents

A common reason for refund delays is missing documents. Avoid this by creating a checklist of essential tax forms: 

• W-2: This is a report from your employer that outlines your wages, contributions to a health savings account, and contributions to a 401(k). You can request a copy directly from your employer or use the IRS's “Get Transcript” tool.

• 1099s: Includes income from an individual who is typically not your employer. This includes income from freelancing, side jobs, or investments.

• 1099-MISC or 1099-NEC: These forms report side gig or freelance income if you earned more than $600

• 1099-DIV and 1099-INT: These forms are used to report dividends and interest earned from investments and interest income like savings account interest.

• 1098: This is an important form used to report your tax-deductible expenses, including reports of mortgage interest paid. The mortgage has to meet the $600 interest threshold.

• 1095-A: This form is used to claim tax credits from the Affordable Care Act. 

• Receipts for Deductible Expenses: These include charitable donations, medical expenses, and business expenses. Keep these receipts in a centralized and easy-to-access location with Trustworthy.

• Prior Year’s Tax Return: Useful for reference and any carryover deductions or credits. It is good practice to store at least three years of previous tax returns, but keeping them longer is recommended. 

• Childcare Provider Details: This form is necessary for claiming dependent care credits up to 35% of $3,000. Make sure all names are spelled correctly.

• Form 1095-A: This is only required if you have marketplace health insurance.

Be prepared for tax season by storing all your gathered documents with Trustworthy for easy access and unparalleled security.

Track Important Deadlines

Missed deadlines can result in delayed refunds and costly penalties of 5% of your tax due. Some important dates for 2025 to keep in mind include: 

• January 27: Tax season officially opens, and federal tax returns for 2024 will start being processed.

• January 31: Employers need to have submitted W-2 forms, and certain 1099 forms that report non-traditional income need to be submitted.

• April 15: All tax returns must be submitted, and the first 2025 quarter payment is due. This is your chance to request an extension until October 15, 2025, using Form 4868.

• June 16: The second quarter payment is due.

• September 15: The third quarter payment is due. 

• October 14: All extended tax returns must be filed now.

• January 15, 2026: Final quarter payment to be paid.  

Never miss a deadline by using Trustworhy’s automated reminders to get your documents organized and submit returns on time.   

Keep Financial Records Organized

Don’t wait until just before your return is due to organize your financial records. Eliminate last-minute stress by keeping your records organized throughout the year and filing them as soon as you receive them. 

Make finding your stored records easy by organizing them into different categories like: 

• Business expenses 

• Medical costs 

• Education Expenses 

• Home office deductions 

• Charitable donations

With Trustworthy, you don’t have to create a filing system from scratch, thanks to predefined categories. Trustworthy’s search feature helps you locate your stored documents easily by automatically creating smart links.

For example, you may file an updated mortgage or insurance policy, and the smart links will connect with other relevant documents for instant retrieval.   

How Trustworthy Can Help You Stay Organized

When it comes to preparing for tax filing, Trustworthy is the number one tool for organizing and staying organized.

Centralized Document Storage 

When documents are scattered across emails and piled up on your desk, it’s very easy for things to go missing. That’s why making digital copies and storing them with Trustworthy is so important. 

In addition to the predefined categories, the AI-powered Autopilot also has tools like document summaries, insights, and file naming suggestions to make storing your documents a breeze. 

The handy Chrome extension has drag-and-drop functionality, making it super easy to add important files, save email attachments, and even capture screenshots directly to your Trustworthy inbox.   

Automated Reminders

By setting alerts for missing documents or upcoming deadlines using Trustworhy’s automated reminders, avoid paying penalties. Have a form you need to get a copy of? Let Trustworthy help you stay on track with those tasks.

Customizable Sharing

Trustworthy lets you securely share sensitive documents like W-2s, expense receipts, and tax returns with accountants or tax preparers. Simply create a network of trusted collaborators, such as family members, financial advisors, or accountants.

Control access by choosing full (view and edit) or partial (limited editing) permissions, making document sharing fast and secure.

For added flexibility, use SecureLinks™ to share tax documents with people outside your network. These unique, view-only links eliminate the hassle of email attachments and let you control who can access your files and for how long.

Accessibility and Security

Trustworthy comes with the added peace of mind that your documents are always secure and your tax documents can be accessed from anywhere and anytime. To keep your tax information safe, Trustworthy employs bank-level security measures like AES 256-bit encryption, multi-factor authentication, biometric authentication, physical security keys, and tokenization. 

Benefits of Being Organized for Tax Season

Being organized means your information is accurate, and you have claimed all eligible deductions to lower your tax liability. No errors result in faster refund processing. 

Simplify tax preparation and avoid errors that could delay your refund by using Trustworthy. With centralized storage, secure sharing, easy access, and automated reminders, you can focus on getting your refund quickly and efficiently. 

Take the first step towards a more organized tax season by signing up for Trustworthy today.

Frequently Asked Questions 

What should I do if I realize I made a mistake on my tax return after filing?

If you catch a mistake on your tax return, you need to file an amended return using Form 1040-X immediately. Sometimes, the IRS will fix simple math mistakes for you. However, larger mistakes like excluding an income will require an amended return. 

How can I find out the status of my tax refund?

The IRS has a “Where’s My Refund” tool online or on the mobile app to track your refund. This is a fast and easy tool to use. 

Can I still get a refund if I didn’t earn enough to file taxes?

Yes, you may still be eligible for a refund if federal tax was withheld from your paycheck, and you may be eligible for refundable tax credits like the child tax credit and Earned Income Tax Credit (EITC).