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Should I do taxes now?

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  • Should I do taxes now?

    I am deployed and in the Army. My mail takes forever to get to me because it has to be forwarded.
    I should get paperwork from:
    my bank, I should have collected several hundred $ in interest over the past year
    Maybe my brokerage account (zecco) though I havn't made anything
    Maybe my IRA account? Vanguard
    2 schools which I took classes with using tuition assistance.

    Do I have to wait for everything before I can file my taxes?

  • #2
    I would wait, because if you do it early, when you receive those forms you would likely have to re-file to take them into account.

    Don't know exactly where you are, but I'm assuming that you're in a declared combat zone? If so, the IRS has a provision that allows you to delay filing for quite a while after you return from your deployment.

    Your deadline for taking actions with the IRS is extended for 180 days after the later of:

    The last day you are in a combat zone, have qualifying service outside of the combat zone, or serve in a contingency operation (or the last day the area qualifies as a combat zone or the operation qualifies as a contingency operation), or

    The last day of any continuous qualified hospitalization (defined later) for injury from service in the combat zone or contingency operation or while performing qualifying service outside of the combat zone.


    In addition to the 180 days, your deadline is extended by the number of days that were left for you to take the action with the IRS when you entered a combat zone (or began performing qualifying service outside the combat zone) or began serving in a contingency operation. If you entered the combat zone or began serving in the contingency operation before the period of time to take the action began, your deadline is extended by the entire period of time you have to take the action. For example, you had 3½ months (January 1 – April 15, 2008) to file your 2007 tax return. Any days of this 3½ month period that were left when you entered the combat zone (or the entire 3½ months if you entered the combat zone by January 1, 2008) are added to the 180 days when determining the last day allowed for filing your 2007 tax return.
    Armed Forces Tax Guide
    2 things I'm not certain of in this case: a) I don't know if you personally must file an extension, or if it is dealt with automatically. b) I don't know if you will or will not be charged interest for any taxes due.

    Basically, I'd say wait for your forms to come. You can probably arrange for them to be sent to you electronically, which would get them to you faster. But if you can't get them in time for tax day, you can elect to just delay filing until you get back to the states.

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    • #3
      You might be able to get some of this stuff online, I was able to get my tuition paperwork online, and Vanguard probably has something too. That way you can just print it out and not wait for the mail.

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      • #4
        You should be able to get all the numbers online...

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