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Show Gather Records Now To Assure Fast Tnx Refund With the tax-filing period approaching, taxpayers should begin now to gather their records and make sure they are complete and in proper order, the Internal Revenue Service advised. "Taxpayers who Itemize their deductions," Roland V. Wise, IRS District Director for Utah, said, "should collect such items as check stubs to substantiate charitable contributions, bank statements to account for mortgage payments, records that show interest paid on charge accounts or auto payments, bills for medical or dental costs, records of union dues paid, etc." He advised taxpayers to assemble records before the tax filing season begins. "That way you have plenty of time," he said, "to look for or obtain records supporting important deductions you are entitled to take and you avoid last-minute errors." Mr. Wise said that gathering records early enables a taxpayer to file sooner and receive a refund faster. "As a matter of fact," he said, "taxpayers might well give serious thought now to setting up a recordkeeping system for next year." Mr. Wise also stressed that married taxpayers filing either Joint or separate returns should make sure that the social security numbers of both husband and wife appear on the Forms 1040 or 1040A filed. Taxpayers with extra income from a sideline Job were reminded to determine whether such income is subject to self-employment tax. |