8 key do's and don'ts for advisors and their clients as Tax Day approaches

[Fulton Abraham Sanchez]

With just one weekend to go before most tax returns are due, more than 90 million Americans have already filed their forms and claimed $183 billion in refunds — leaving nearly half still to cross the looming Tuesday, April 18, deadline.

Here are some last-minute do's and don'ts that can save advisors and clients stress and potentially lower a tax bill.

• DO answer all questions on 1040
• DO consider whether an amended return is necessary.
• DO top up certain retirement accounts.
• DO know what the deadline is for a Roth conversion.
• DON'T overpay taxes on Treasury bonds.
• DO have a handle on 1099s.
• DON'T annoy financial advisors and accountants.
• DON'T cheat.

https://www.accountingtoday.co...