Tax season can no longer make you stressed if you have the right options when doing your taxes. Even if you limit your budget and you do not want to spend money for getting your task done by the professional free tax filing is available. Through the official IRS website, which is located at irs.gov, you can enjoy free income tax filing.
Every year, most taxpayers find themselves in trouble when it comes to paying taxes in due time. Only those, who are accustomed to filing taxes online for free, find it easy and hassle-free to complete taxes. If you want to prepare and file taxes for free, get to know about how it can be possible. Go through some useful tax sites and e-file services to get ideas as to how you can avail free tax file.
File Tax For Free lets you complete your entire filing task online in easy way. With the expert guidance of the step and software by step procedures, your entire task becomes simple and convenient. Proper information and details you have to insert into the system if you aim at accurate tax return. If your e-filed return reached the IRS service center accurately, you will get notified quickly about the acceptance of your return. This makes you worry-free as your return is electronically filed in proper manner. For those who are expecting refunds can make the process faster by choosing direct deposit.
Several services offer free state tax returns, raising the possibility of a completely fee-free tax season. With the exception of some members of the Free File Alliance, an IRS-sponsored consortium of online tax preparation companies that don’t always provide free returns in every state, these services are available to residents of all 50 states, the District of Columbia, and U.S. nationals serving abroad.
Your first stop should be the IRS FreeFile site-the government’s program to encourage electronic filing. Because if you do a Google search for FreeFile you could stumble into an ad for a commercial site that might have a free option but doesn’t display the full range of free services available, use the link above.
On the IRS site, you’ll find a wizard to guide those with an adjusted gross income of $62,000 or less to commercial services whose profile they fit. For example, some services offer free software to military personnel, while others filter applicants by age. Only a few services offer free tax-prep software and e-filing for state as well as federal returns.
If you are fully eligible to file your return through the free file program, there are several strict regulations that will determine. Not all returns can be filed through the free file program. Also, each individual private company may have different eligibility requirements. For example, some companies will not file federal return in all states, some companies may have different age requirements, while others will have lower gross income requirements. You will need to check each company’s web site to determine what restrictions apply to you and which forms are available.
If you don’t meet the criteria for free tax-prep software through the IRS FreeFile site, try visiting a few commercial sites. As previously stated, going to a commercial site directly (as opposed to using a link on the IRS’s site) gets you to a different landing page, but for some filers this might not be a bad thing.
Federal Free Filing option from TurboTax is ideal for simple tax situations. It includes most of the features and functionality of TurboTax’s paid options, including a best/fastest refund guarantee, support via live chat, W-2 importing, and your choice of e-filing or print and mail filing, Turbotax even post coupon codes and deals each year for new customers to save some extra money filing.
However, this option has some drawbacks. It doesn’t allow you to file most common schedules (including schedules E, D and C and F), doesn’t support itemized deductions, and doesn’t save (or let you import) tax forms and returns from previous years. Also, you can’t take advantage of TurboTax’s refund bonus, which adds 5% to your refund if you opt to receive it as an Amazon gift card.
The latest trend in online tax prep is the ability to prepare your return on a smartphone or tablet or a Web browser. This is something you should check on when choosing a tax-prep service: The best ones, including TurboTax, will let you work on your return on any device you happen to have at hand.
To see how flexible a tax-prep service is, try creating an account on one device and then accessing it from the other devices you intend to use. See if a dedicated app is required.
To summarize, the free file program is a public-private partnership between the IRS and participating online tax preparers who are members of the Free File Alliance. Each private company has its own eligibility requirements. The free file program does not include individual state tax returns, so you must file those separately – at an additional fee. Electronic returns (or extensions) must be filed by the same April 15th deadline as their post marked paper counterparts.