Showing posts with label tax software. Show all posts
Showing posts with label tax software. Show all posts

Tuesday, January 27, 2009

Really Free File - Income level much higher - You must know how to do taxes.

I was excited to see the Program just introduced by the IRS. For the first time ever, a taxpayer who knows how to do taxes, or is good at reading instructions can complete a tax return, electronically straight onto the forms.

If you are a Dependent (Someone else is qualified to claim you on their Personal Federal Tax Return), you can fill out your own Tax Return, without having to pay exorbitant prices for a usually simple form.

It is simple to move through the IRS website and find the links to do your own tax return for Free.

Go to www.irs.gov. When you get to that page, it will be on the front page of the Individual Tab Page, where there is an article about Free File, the two different ways you can file electronically for free, or for a very low cost. Click on the Free File link. There will be two choices where you can link to Free File Software offered by IRS Approved Companies. Many are well known. The benefits of using software is; 1). Keep forever records by software company, 2). There is assistance available when you run across a problem you don't know the answer to. 3). If your State requires you to file a State Income Tax Return, the numbers from the Federal Form will roll down into and fill the State Forms. I prefer TaxSlayer.

Disadvantage: Software Problems; think of your worst computer experience, add the Treasury, Social Security Admin, and the IRS, Cost, Security.

The second choice is new: Go to a linked site and pull your forms needed for your return and file it directly to the IRS without a middleman. All of the benefits are obvious.

Disadvantage: It is brand new and has quirks that must be worked out. It could possibly have large or small problems. Refunds could be delayed an unknown amount of time. The problem returns will be few, but it is good to know. I cannot wait to use it. As I update knowledge on this new program, I will update y'all.

Right now it is just me preaching to my own choir, but I can really help. If you leave a comment or a question I will check in and answer you promptly. If I don't have the technical answer, I will get you to a place to get the answer.