The end of tax season is finally upon us.  As you rush to prepare and file your individual tax return by midnight on April 15th, keep in mind these five suggestions for streamlining the process and saving money:

1. File electronically.  Consider filing electronically instead of using paper tax forms. If you file electronically and choose direct deposit, you can receive your refund in as few as 10 days.
2. IRA contribution. It isn’t too late to make a contribution to your IRA and take a deduction for 2008.  Make sure your contribution is made by April 15th and you tell the investment company to consider it a 2008 contribution.
3. Refinancing expenses.  With low mortgage interest rates, the past year saw a flurry of refinancing transactions, as homeowners sought to lock in the lower rates.  If you refinanced a mortgage in 2008, you can deduct the points paid, but you must deduct them over the life of the loan.  If your new loan is a 30-year mortgage, that means you can deduct 1/30th of the refinancing points this year.  It may not equate to much, but don’t throw it away.
4. Check your personal information carefully.  This seems simple, but as the old saying goes, the devil is in the details.  The IRS receives untold numbers of tax returns with simple errors or omissions each year.  So, check your return one last time to make sure your names, social security numbers, addresses and bank information are correct.  Also, make sure to sign the return if you file by mail.
5. File an extension.  If it just isn’t humanly possible to finish your return and deliver it by midnight tomorrow, file an extension.  By filing an extension, you will have six more months (until October 15th) to file your return.  The key, though, is that the extension is for filing not paying.  When filing an extension, you must estimate your total tax liability for 2008 and submit payment for that liability along with your extension request by midnight on April 15th.