Income Tax Filing - Us state and Federal Tax Filing and Tax Preparation Services
DO YOUR TAXES ONLINE Organize, prepare, and e-file your income taxes at the Online Tax Center. Start for FreeMade your Tax preparation easy, relaxing, and stress-free. Yeah-right! Well, at least it can be less stressful using these convenient tools. Easy online income tax filing with fast tax refund.  |  |
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The process of filing taxes online is simple and trouble free. The customer first prepares his tax papers personally or approaches professional tax consultants to do so on his behalf. After the tax papers have been prepared they can be effortlessly filed through an IRS e-file provider. Filing can be done online as well, but if an individual is not sure about the mechanics, it is better to seek professional guidance. Usually most tax experts will be licensed IRS e-file providers. The relevant documents are signed and retained by the customer for future reference. The IRS e-file provider then files the returns electronically on the behalf of the customers. Next, the IRS e-file provider sends the customer an acknowledgement mentioning the current status of the filing process.
The advantages of online tax filing systems are many. Online filing eliminates the need for going through tiring steps of rushing to the local IRS offices and post offices and waiting in never ending queues to post the papers before the due date. Office hopping has been completely eliminated. The only thing required is a reliable computer and Internet connection. Mistakes and errors can be corrected online in comparatively less time. Online tax filing has reduced the time gap prior to receiving tax refunds and papers can be printed to maintain precise records for future reference. Onlinetax filing also facilitates tax payments using credit cards. It has reduced back office processing time considerably.
Online tax filing is generally free if individuals file tax returns themselves. However, IRS e-file providers may charge a commission for their expertise and services. Law does not specify the amount of commission that can be charged.
IRS e-file is fast becoming extremely popular with taxpayers as well. Find everything electronic in one place at irs.gov. This includes filing information,how to pay electronically, and more.According to the website of the Internal Revenue Service (IRS) which is found at irs.gov. Seventy percent of the nation's taxpayers are eligible for Free Federal Tax Preparation software and free electronic filing. See if you are eligible, by visiting their site. This year new tax relief provisions apply to individuals and businesses affected by the hurricane season.
Most of taxpayers will have the income tax forms they need mailed to their home address. This option, to have federal income tax forms mailed to a taxpayer is given on the previous year’s tax forms. People who do not wish to receive federal income tax forms but do need them can get the forms from a number of sources. Many paper forms are available for pickup at many local post offices, banks, and libraries. Taxpayers can also visit the website of the Internal Revenue Service (IRS) which is found at irs.gov. The Internal Revenue Service has a collection of federal income tax forms that can be downloaded and printed at their web-site.
In addition to the regular taxpaying individual, there are several others who have to report and possibly pay an income tax. All businesses and estate properties of an individual who has passed on are subject to an income tax. A small business owner or the executor of an estate property will have to file different federal and state income tax forms than the traditional taxpayer. These forms can be obtained at the same places where standard federal and state forms are available.
The advantages of electronic Tax Filling are numerous, and, depending on the complexity of your tax return, may save you a significant amount of time and money. Let’s take a look at the typical citizen doing a tax return so that we can compare the paper option and the electronic option. They both start out the same way.
It’s up to the taxpayer to keep records of expenditures that are deductible, such as charitable contributions. The taxpayer is also in charge of doing some calculations, such as adding up deductible expenses, W2 gross pay amounts, and W2 taxes paid. It’s even up to the taxpayer to make the decision as to how to complete a tax return.
Tax Return Options
Currently, as a taxpayer, you have three choices. You can do your own return on a paper form that you get in the mail, from a library, or at a post office. You can go to a local or national tax preparation company. Finally, you can choose the newest option, electronic tax filing.
In all three cases, responsibility for collecting tax documents is yours. Tax preparers can charge hundreds of dollars. Doing it yourself can be confusing. By using an online tax filing company, you will find yourself guided through the process step-by-step, beginning with questions designed to determine which form you should use. Then you will be asked questions relating to every line on the form, and, in some cases, you will learn about deductions you may not have realized you could take. Next your Tax Return will be checked for unusual entries. Finally, you can file online, opt for direct deposit, and get your return within days.
The easiest and quickest way to file a return and obtain a refund, is to do this electronically--a practice already used by more than half of all taxpayers. The conventional way of filing taxes with the IRS has been opposed by online tax filing systems in recent times. Filing online will allow you to get your Rapid Tax Refund in as little as 10 days.
The process of Online Tax Filling is simple and trouble free. The customer first prepares his tax papers personally or approaches professional tax consultants to do so on his behalf. After the tax papers have been prepared they can be effortlessly filed through an IRS e-file provider. Filing can be done online as well, but if an individual is not sure about the mechanics, it is better to seek professional guidance. Usually most tax experts will be licensed IRS e-file providers. The relevant documents are signed and retained by the customer for future reference. The IRS e-file provider then files the returns electronically on the behalf of the customers. Next, the Free IRS Efile provider sends the customer an acknowledgement mentioning the current status of the filing process.
Online filing eliminates the need for going through tiring steps of rushing to the local IRS offices and post offices and waiting in never ending queues to post the papers before the due date. Office hopping has been completely eliminated. The only thing required is a reliable computer and Internet connection. Mistakes and errors can be corrected online in comparatively less time. Online tax filing has reduced the time gap prior to receiving tax refunds and papers can be printed to maintain precise records for future reference. Online tax filing also facilitates tax payments using credit cards. It has reduced back office processing time considerably.
Join the millions of people who have discovered how easy, online tax filing can be. The cost will be much less, your tax forms will get to the IRS with no hand-written errors, and you'll get your income tax refund in as little as 10 days.
You want a tax return that is easy to prepare, easy to understand, and easy to file. With online tax filing you can prepare and e file your tax return in as little as 1 hour.
Have you ever wanted to file your taxes online, but thought that only tax accountants have the knowledge and tools necessary for easy online income tax filing? This is a common misconception that many people have.
With the right tools and information, online tax filing is as easy as point and click. You don't need any prior tax experience. Just follow the user friendly guides. If you're interested in quickly preparing an accurate, goof-proof tax return this year, then you've made the right choice.
In order to start your tax filing online, you'll need a tax filing website that offers online software designed for easy tax preparation. With online tax software you won't have to download a thing. Simply sign up for a user account, and you should be able to use the software immediately and for free.
Once you're logged in, and ready to begin the actual tax filing process, you'll be shown easy step by step directions for Free Income Tax Online . All you have to do is follow along.So make this year the year you leave pen and paper behind, and try easy online income tax filing.
Top 10 FAQ related to Income Tax Filling
- What is E-File?
- When is the tax filing deadline ( last date of Income Tax Filing)?
- Why file electronically?
- How does E-File work?
- Is online tax filing safe?
- How accurate is E-File?
- How long does it take?
- How much does it cost?
- Will I really get my refund faster?
- Do I need to keep copies of my tax returns?
(1) What is E-File?
It is a cooperative tax filing program with the IRS which makes it possible for taxpayers to file both federal and state personal income tax returns electronically at the same time. You file your income tax return using a computer instead of manually preparing and mailing your return. It is not only the fastest and most accurate way to file your return, but you can also expect to receive your refund sooner than if you file a paper return. You will receive your refund even faster when you have it deposited directly into your savings or checking account.
(2) When is the tax filing deadline?
The income tax filing deadline is
(3) Why file electronically?
You'll get your refund faster. – E-Filed refunds are usually received within 1-2 weeks. Even faster, in as little as 5 days, if the direct deposit option is used. You'll make fewer errors. The online service automatically checks your return and corrects any math errors it finds. The error rate on E-Filed returns is less than ½%.
You will get an acknowledgment of receipt from the IRS , so you will know that your returns have been received and accepted.
(4) How does E-File ( online income tax filing ) work?
You can choose to have a tax professional E-File your return for you or, if you prefer, you can E-File from your own personal computer. Visit the Arizona Department of Revenue’s web site for a listing of approved online service providers and approved prepackaged software. E-File is not only fast, but it’s also easy, and you don’t have to worry about your return being lost or delayed in the mail.
(5) Is online Tax Filling safe?
Yes. Online Income tax filing is secure. The information is encrypted and your return is securely transmitted to the IRS and to the Arizona Department of Revenue. So Online Tax Preperation service is totally secure and fast way by which you can file your taxes directly to IRS.
(6) How accurate is E-File ( income tax filing )?
It is virtually error proof! E-File is so accurate it almost eliminates the possibility of a mistake on your tax return. If an error is found, the Department of Revenue will notify you or your preparer immediately using electronic notification. After the error has been corrected, you may be able to resubmit your return electronically or may need to submit a paper return, depending upon the software program used to file your return.
(7) How long does it take?
That will depend on the complexity of your return and the service you select. If you have a simple return, it will take you about one hour. After spending hardly 60 minutes your online income tax return is completely prepared. So File your taxes online and Get fast Tax Refunds. Fill your pocket with your refunds and steal handsome amount from IRS. So File taxes online now!!!
(8) How much does it cost?
Costs vary, depending on which service you use. Check out the costs when visiting each service's web site. Some services offer free filing for people who meet certain income or age limits.
(9) Will I really get my refund faster?
In 2002, 98 percent of E-File Tax Returns that expected a refund took as little as 10 days or less while paper returns took considerably longer. To receive your refund as fast as possible, you should select the direct deposit option for your refund. Your refund will reach your checking or savings account in as little as 5 days; plus, you don't have to worry about losing or misplacing the check. You can call your bank to verify that your refund has been deposited.
(10) Do I need to keep copies of my tax returns?
Yes. After filing your Income Tax Return online, you will need to print and save a copy for your records, along with your W-2s and 1099s. If you forget, you need only go back to the service's web site, access your information, and print a copy.
I recommend that everyone try to prepare their taxes themselves. Use free tax software, or downloadable tax forms to get a good idea of your tax situation. If your tax situation hasn't changed much since last year, you should consider preparing taxes yourself. Even if you hire a professional, having a rough draft of your tax return will focus your attention on the areas you need the most help with.
You will benefit most from a tax professional if you know what your key tax questions are. That's because you can call around to find an accountant who has experience with tax situations similar to yours. Finding a tax accountant is pretty easy during tax time, but be careful to choose an accountant who's right for you. Here are some tips.
Tips for Finding the Right Tax Accountant For Income Tax Filing.
Taxpayers of all types can benefit from hiring a tax accountant. But before you spend your hard-earned cash, here's some simple steps you can take to protect yourself, to find the right professional for your situation, and some questions to ask.
Understand Why You Need a Tax Accountant
You should take some time to focus on exactly what you need your tax accountant to do. Here are some common situations:
• Preparing your own taxes is time-consuming, stressful, or confusing.
• You want to make sure your tax returns are accurate.
• Your tax situation is pretty complex, and you need specialized advice and tips.
• You would like to pay as little taxes as possible, and need detailed planning and advice.
• You are facing a tax problem, such as filing back taxes, paying off a tax debt, or fighting an IRS audit.
• You run a business, invest in the stock market, own rental property, or live outside the United States.
Focus on your tax situation. If you are self-employed, find an accountant who deals with independent contractors. Same goes for investors, landlords, day traders, and expatriates. You have unique needs, and you deserve a tax professional who is experienced, reliable, and responsive.
Avoid fraudulent tax preparers. As US Government Information Guide Robert Longley reminds us, "If they get it wrong, you pay the penalty." What are the warning signs of a bad preparer? Anyone who refuses to sign your tax return, who asks you to fill out a blank form, or who charges a percentage of your tax refund as a fee. Not only are these dishonest practices, they are actually illegal under various federal and state laws.
Ask good questions. Experienced tax professionals love to talk tax and will help you plan ahead for next year's taxes. You should ask about their licenses, specialization, and fees. Here's nine questions to ask any accountant you plan to hire. One of the most important questions to ask about their privacy policy. You don't want your accountant sharing your sensitive tax information with third parties, so be sure what steps they take to protect your privacy.
Questions to Ask a Tax Accountant
The tax industry is constantly changing and tax professionals are subject to various federal and state regulations. Here are some questions you can ask to help ensure you find an experienced, trustworthy tax accountant:
• What licenses or designations do you have?
• How long have you been in the tax business?
• What tax issues do you specialize in?
• Do you have the knowledge and experience to handle my tax situation?
• What are your fees?
• Do you outsource any of your work? Do you perform the work personally? If not, what is the review process? Who signs the returns?
• How long, approximately, will it take to finish my taxes?
• What's your privacy policy? Will you share my tax information with any third-parties?
• Do you believe I'm paying too much, too little, or just the right amount of tax?
Finally, don't forget to bring all your tax documents. And while you are gathering your documents, be sure to remember to put your important tax records in a safe place so you can find them next year.
File All Tax Returns
Taxpayers should file all tax returns that are due, regardless of whether or not full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. All payment plans require continued compliance with all filing and payment responsibilities after the plan is approved.
Facts About Filing Tax Returns
- Failure to file a return or filing late can be costly. If taxes are owed, a delay in filing may result in penalty and interest charges that could increase your tax bill by 25 percent or more.
- There is no penalty for failure to file a tax return if a refund is due. But by waiting too long to file, you can lose your refund. In order to receive a refund, the return must be filed within 3 years of the due date. If you file a return, and later realize you made an error on the return, the deadline for claiming any refund due is three years after the return was filed, or two years after the tax was paid, whichever expires later.
- Taxpayers who are entitled to the Earned Income Tax Credit must file a return to claim the credit even if they are not otherwise required to file. The return must be filed within 3 years of the due date in order to receive the credit.
- If you are self-employed, you must file returns reporting self-employment income within three years of the due date in order to receive Social Security credits toward your retirement.
NOTE: Taxpayers who continue to not file a required return and fail to respond to IRS requests for a return may be considered for a variety of enforcement actions. Continued non-compliance by flagrant or repeat nonfilers could result in additional penalties and/or criminal prosecution.
Getting Free Help to File Late Returns
The IRS offers free assistance by computer, telephone, facsimile and in person. The IRS can assist taxpayers with obtaining forms, publications, and answers to a wide range of tax questions.
If you are a wage-earner, and have misplaced your W-2 Forms showing your income and income tax withholding, and you are unable to obtain duplicate copies from your employer, IRS can often provide you with that information after the annual matching programs are run. Matching programs are run after filing season, and the information is usually available in late August of the year in which the tax return is due.
If you think your employer did not report your wages, contact IRS for assistance on how to file your tax returns. If you can establish that your employer withheld taxes on your salary (normally by providing pay stubs), you will receive credit for your social security and income tax withholding even if IRS did not receive the withheld tax. If your employer failed to withhold the taxes, you must still file your return.
The Volunteer Income Tax Assistance (VITA) program and IRS e-file joined forces several years ago to bring electronic tax filing to VITA sites. Since then, volunteers prepare tax returns on computers and ultimately transmit them electronically to the IRS. It’s free of charge for individuals of low to moderate income.
Individuals and joint filers whose income exceeds VITA program criteria, as well as businesses (i.e. filing Schedules C and E) should seek professional assistance for return preparation. The Authorized IRS e-file Provider database is a nationwide listing of all businesses that have been accepted to participate in the electronic filing (IRS e-file) program.
Documents Required to Prepare a Return
In order for the IRS to assist with preparing a tax return, taxpayers should bring any and all information related to income and deductions for the tax years for which a return is required to be filed. Some of the documents may include:
- Forms W-2 – Forms from employers showing wages for the year.
- Forms 1099 – Forms from banks and other financial institutions showing interest and dividends. Forms 1099 also report self-employment income.
- Information on expenses to claim on the return, such as itemized deductions, child care expenses, or employee business expenses.
- Social Security numbers for dependent children and any other person claimed as a dependent
- A copy of the last tax return filed.
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