5 Tips for E-Filing Your Taxes
NEW YORK (IRS.com) -- There is a lot that you need to know if you are going to e-file your taxes online.
One detail that you don't want to overlook is the fact that you can do this for free. Don't let anybody tell you that you have to pay to e-file your federal tax return, because that is not the case.
Here are five tips to follow if you want to e-file your taxes online for free:
1. Consider every option Unlike a paper return, when you decide to file electronically there is more than one way of doing so. Most people choose to use tax preparation software. Not only can you find software that is free, but most of them will give you the ability to e-file your federal tax return without paying a dime. The IRS has its own system many people qualify to use. It is called the IRS Free File program, and it's made possible through a partnership with the Free File Alliance LLC. To be eligible for this free e-filing option, your adjusted gross income must be $57,000 or less. 2. Have what you need so you can file quickly Many people let their guard down as soon as they realize they can e-file their return online. Don't make this mistake. You need to provide all the same information as you would if you were filing a paper return. Also be very cautious of online filing scams, which may promise free e-filing but could end up stealing your tax refund. 3. Consider a tax professional You can hire a tax professional to electronically file your taxes. Note that while the e-filing itself may be free, you will have to pay for the services of the tax professional. If your tax situation is complex, it's generally recommended that you enlist the help and advice of a professional. 4. Don't waste money on software Don't buy expensive tax software; most providers offer free programs. While some individuals/organizations may need to buy more advanced tax software, don't go overboard unless it is totally necessary. 5. Two birds with one stone You can usually e-file your state and federal return at the same time. You can do this through your tax software, or directly with your state if it's offered. Most tax software programs charge approximately $30 for each state return. If you want to e-file taxes online for free you can better your situation by following the five tips above. Click HERE to file your taxes online.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV