Using a Free Income Tax Software
Preparing your income tax return can be a lot of hassle, specially when you barely know where to begin with. Thanks to a free income tax software by the IRS ( Internal Revenue Service ) known as the Free File Program, taxpayers can now take advantage of free electronic filing and federal income tax preparation. This free income tax software is made possible with the collaborating efforts of the Free File Alliance LLC, a private tax software company.
There are also other legitimate software companies offering free or low-costs assistance in electronic income tax filing and these software programs have been tested for ease of use and accurate data filing. Some of these programs, in random order, are: Turbo Tax Freedom Edition, H&R Block Tax Cut, Tax Act, Complete Tax, Tax Engine, Tax Slayer, OLT, Elite Tax Returns, and many others. Using the one provided by the IRS gives you a safety net and a reassurance that your income tax return will be received directly. You will even get a confirmation within 48 hours upon submission.
What Benefits Does a Traditional Free Income Tax Software Like Free File can give?
1. Free file support which can save you time and money.
2. Free tax preparation and electronic filing for taxpayers with gross adjusted income that is equal or less than $56,000 in year 2008.
3. Simple, user-friendly interface that does all the computations and accuracy checks for you.
4. Speed of refund in as little as ten days via Direct Deposit.
5. Form is available in Spanish.
6. Free File has fillable forms that look similar to a 1040, 1040 A, or 1040 EZ return form.
7. Free File fillable forms have similar filing structures to federal tax forms and tax schedules, although state electronic files are not supported. These fillable forms also come with a free federal extension.
How Do You Use the Free Income Tax Software Called Free File?
The first thing you need to do is go the the IRS online page and go to the link to Free Online Filing. Choose a free file company and see if you are eligible for a free service. You may click on your chosen company’s website and start your tax return from there. The IRS online will show you a warning display when you are about to leave their web page. You can also scan the IRS listing or get help by choosing an interactive tool ( Guide Me to a Company ). If you are over-qualified, you can just go back to the IRS Free File page and choose other companies. Even if your income is more than $56,000, you can still use Free File Fillable Forms. Once a data is entered, you may now file your form electronically over the IRS.
Not only does the IRS provide you with a free income tax software to help you file your taxes on time, but you can also have your income tax return prepared by trained volunteers. The IRS Volunteer Income Tax Assistance Program or VITA, and the Tax Counseling for the Elderly or TCE offer free tax assistance for those who are eligible for their services. Just make sure to prepare your proof of identification, social security cards, birth dates of your spouse and dependents, Form W-2, W-2G, 1099-R for employees, last year’s federal and state income tax returns, and bank routing number. If you want to file under the married category, make sure you and your spouse are both present to sign the forms. Choose your free income tax software very well and file your taxes on time.
RESOURCES:
IRS.gov. ” Free File Home – Your Link to Free Federal Online Filing. ” November 2009.
http://www.irs.gov/efile/article/0,,id=118986,00.html
IRS.gov. ” Free File: Step by Step Instructions. ” January 2009.
http://www.irs.gov/efile/article/0,,id=118992,00.html
IRS.gov. ” Free Tax Return Preparation For You by Volunteers. ” November 23, 2009.
http://www.irs.gov/individuals/article/0,,id=107626,00.html
Perez, William. ” Top 10 Free Tax Preparation Programs. ” 2009. About.com.
http://taxes.about.com/od/preparingyourtaxes/tp/freefile.htm
