January 22, 2011 by staff
It can cost an arm and a leg to hire an accountant to prepare income tax. Some people pay over 200 and every year. This money ends up out of their annual income tax return. However, with modern innovations as the Internet brings to us, now there are online services that allow tax preparation to be done cheaply online.
Websites like TaxSlayer (TaxSlayer.com) return of the free offer, and returns in 8 days.
TaxSlayer.com offers the opportunity to file 1040EZ federal charge. This includes free support via email, and ensures that your deposit will be easy to do and get the maximum tax refund.
For $ 9.95, users can file a 1040, 1040A and all other main forms. TaxSlayer also provide a way to find your tax refund with their allowance viewfinder.
For $ 19.95, users receive telephone support line; compare the previous year, tax audit assistance and more.
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For more information visit http://taxslayer.com
Even if we are three weeks in 2011, it is not too late to make resolutions on New Year and here’s one that is much easier than giving chocolate or beer determination to tackle your tax income.
Over 60% of taxpayers pay a tax preparer to do their returns each year. Although this makes much sense for those complex statements, more than 20 million Americans file a 1040EZ, the tax form for taxpayers who do not itemize, claim no dependents and earn less than 100,000 per year and. If you fall into this category – use Form 1040A or little – you can save lots of money doing your own tax return this year. And thanks to technology, you do not need to delve into the tax code to do the job properly.
Saving money is not the only reason you should consider doing your own taxes. Preparing your tax return requires you to take a critical look at how much money you earned last year, after taxes. If you contributed to a 401 (k) plan, you will realize how your contributions reduce your tax bill. And that could provide the kick in the ass you need to save a little more.
Tax software companies, eager to attract new businesses, have made great efforts to make tax preparation easy, if not exactly fun. Last week, posted SnapTax TurboTax, a mobile phone application that allows users to file their federal and state taxes on their smartphones. SnapTax, which costs 14.99 and the e-tax returns federal and state, is limited to taxpayers who file a 1040EZ.
Programs free online tax preparation. Even if you do not qualify for Free File, you may be able to prepare and file your return online federal income tax free. TurboTax and H & R Block to house the two editions offer free for taxpayers who file a tax return 1040EZ or other simple, unrestricted income. TaxAct free edition offers tax preparation and electronic filing for one federal return with no restrictions on income or the return type.
The growth of Free File, now in its eighth year, “has created a private market for products free tax preparation,” said David Williams, senior vice president for the IRS.
Keep in mind that the tax software companies are in business to make money. If you use any free programs, you will probably push many sites upgrade to a paid product. You will also have to pay to file a tax return for the state.
Sure, you can still file your tax return for free by doing it the old school with a pencil and paper. In this case, you pay the postage. But this year, this method requires extra effort. For the first time, the IRS will not mail tax forms and instructions for taxpayers who filed manually in the past. If you want the forms you’ll need to download from irs.gov, or call 800-829-3676 to apply. Tax forms and brochures will be available in some libraries and post offices, but the IRS has limited distribution, too, “said Williams.
“It’s all about cost cutting,” said Williams. “It turns out that many of these forms came to be in the trash.”
There is an alternative for penny-pinchers who do not need much handholding: Free File on the forms. This program provides electronic versions of tax forms that you can fill out and file for free. The program does the calculation, but does not provide guidance, “said Williams. It is available at irs.gov.
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