How To Do Your Tax Returns For Free
Did you know the IRS now offers a "Free File" program that allows you to electronically file your tax returns? For many people this is an excellent option because it is such a hassle to manually fill out all the paper forms .
This program is now being used by over 19 million taxpayers since 2003. If you do not have a complicated tax return to complete this is an option worth checking out.
You can get your tax refunds in as little as 10 days with direct deposit. Depending on how busy your schedule is you can complete it free file online from the comfort of your own home 24 hours a day.
If you are environmentally conscious it's nice to know you are saving on paper. Plus the returns themselves are extremely accurate as long as you enter your numbers properly.
You can know that your return is safe and secure and you will receive a confirmation from the IRS in 48 hours that they are in receipt of it.
One key point is that you must have an adjusted gross income of $54,000 or less. Also under the Free Tax Act you can request that you receive free online tax preparation if you're between the ages of 19 and 54 years old.
One key point is that you start your tax return by going through the IRS free file website. One downside is you are not going to get my support if you need it.
This program really does work best for people who
do not have complicated tax returns and would need help from a tax professional. If your return is simple the Free File program is an excellent way to do your tax return for free.
FIle Your Return Using Software:
More likely than not, when dealing with a tax preparer or an accountant they will fill your forms and return them for you. If you are new to doing your own taxes you may be in the dark about how the whole process works. Fortunately you do not have to do this alone. There is a variety of software available from various companies that will assist you.
During the process of completing your return, the software should present a number of interview questions which will help them to categorize income and take the appropriate deductions. Once all the information has been entered, the software will usually check for common errors. If common mistakes have been identified, the program will notify the user who can then chose to fix them or not. This helps to minimize any chances of mistakes which could delay the fillers refund.
If questions arise, usually a quick search of their help database and frequently asked questions can find the answers. If not, most companies also offer support via the phone, e-mail, or live chat.
Filing your taxes using software is a great and convenient alternative to paying up to hundreds to have a professional CPA complete your return. Not only will you do your body a favor by not stressing, your bank account will also reap the benefits of saving your money instead of losing it to fees once a year.