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| Federal and State Income Tax Preperation & Online Tax Filing Services. IRS approved and guaranteed accurate. Live tax help. All 50 states. E-file now. Start Your Federal Tax Return Now. Free Federal tax return preparation services is a free services offer by Online Tax Services for US tax payers to file their federal tax return online for free. The Free File program is a free federal tax preperation and electronic filing program for eligible taxpayers developed through a partnership between the Internal Revenue Service (IRS) and a group of private sector tax software companies. |
Top Tax Credits to Take When Preparing Your Federal Income Tax Return
1.Child Tax Credit
The tax law allows you take a $1,000 credit for each dependent child (under age 17 by December 31st of the filing year), against taxes owed. Remember this is not a deduction, this is a CREDIT. A credit reduces your income tax dollar for dollar, and thus is extremely advantageous. This credit does, however, begin to phase out at $110,000 adjusted gross income for joint filers, and $75,000 adjusted gross income for single filers.
2.Education Credits
There are actually two credits available, depending upon your situation.
A.The Hope Credit
The Hope Credit is available to students in their first two years of college (freshman and sophomore year) or vocational school. The maximum amount of credit available is $1,650. The expenses that you may include in the calculation of this credit is basically just the cost of tuition.
B.The Lifetime Learning Credit
The Lifetime Learning Credit is available for all years of education past high school, and for courses to acquire or improve job skills. It's available for an unlimited number of years. The student does not need to be pursuing a specific degree or course of study to obtain the credit.
Be aware, however, that if you file married separately, or if you can be claimed as a dependent on someone else's return (i.e., your parent's), you cannot claim either of the education tax credits. Both credits are subject to phaseouts depending on your income.
Home Energy Efficiency Improvement Tax Credits
Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in the home can receive a tax credit of up to $500.
There is also available a credit equal to 30% of qualifying expenditures for purchase for qualified photovoltaic property and for solar water heating property used exclusively for purposes other than heating swimming pools and hot tubs. The credit cannot be more than $2000. Improvements must be installed in or on the taxpayer's principal residence in the United States. Home improvement tax credits apply for improvements made between January 1, 2007 and December 31, 2008.
Be sure to visit the IRS website for further information on tax credits available. By keeping an
Online Federal Income Tax Return Calculator 2008 - 2009
Want to know how you can calculate your Federal income tax refund or return for free?
Maybe you're wondering how much your tax refund will be, or you might want to know if you're going to owe money at tax time. If you would like to find out, then I suggest using an online Federal income tax refund - return calculator.
To calculate your taxrefund or return, you must first find a website with tax calculating software such as TurboTax Online. Start by creating a user account at the website you have selected. Now you'll be able to use their tax preparation program to calculate your taxes. Depending on your situation, this should take about 30 minutes or less to complete.
You will be asked to enter information as you go, such as marital status, income, and deductions. Soon you will see the tax calculator at work, as you enter your income and deduction information. After your taxes have been calculated, it's time for a review. If you've missed a deduction, you can enter it in and put the calculator to work again.
This is the best method I've found for figuring my tax refund in advance
This year, when you're ready to start your Federal tax return, think about using an online income tax calculator to figure your tax refund, or money owed. You'll like seeing your refund amount being displayed as you go. You might even be alerted to a tax deduction you've missed, which means, more tax savings for you!
Online Federal Income Tax Return Calculator 2008 - 2009
Want to know how you can calculate your Federal income tax refund or return for free?
Maybe you're wondering how much your tax refund will be, or you might want to know if you're going to owe money at tax time. If you would like to find out, then I suggest using an online Federal income tax refund - return calculator.
To calculate your tax refund or return, you must first find a website with tax calculating software such as TurboTax Online. Start by creating a user account at the website you have selected. Now you'll be able to use their Free Federal Tax Preparation program to calculate your taxes. Depending on your situation, this should take about 30 minutes or less to complete.
You will be asked to enter information as you go, such as marital status, income, and deductions. Soon you will see the tax calculator at work, as you enter your income and deduction information. After your taxes have been calculated, it's time for a review. If you've missed a deduction, you can enter it in and put the calculator to work again.
This is the best method I've found for figuring my tax refund in advance
This year, when you're ready to start your Federal tax return, think about using an Free Income Tax Online calculator to figure your tax refund, or money owed. You'll like seeing your refund amount being displayed as you go. You might even be alerted to a tax deduction you've missed, which means, more tax savings for you!
File Federal Tax Return
The IRS demands federal tax return on the basis of an individual's non-immigrant visa statues and their dependents. These filing requirements vary according to whether the student, scholar, or dependent is considered a resident or a non-resident for federal tax purpose. There are various sources available, which help a person to determine the correct status for filing forms for federal tax return.
After completing a federal tax return form, a person can send it either electronically or by mail to the IRS. If people opt for filing returns by mail they can find directions on where to send them in the tax instruction booklet of form 1040ez . It is advisable for taxpayers to use the envelope and the appropriate mailing label while mailing returns. All check payments should be made payable to "United States Treasury".
Individuals can file their returns by mail or by electronically. IRS offer e-file programs for filing returns instead of traditional paper work for filing. IRS e-file program is fast easy and convenient for taxpayers. Taxpayers can file returns electronically using an authorized IRS e-file. Free filing is also available on the IRS website.
Electronic tax filing enables taxpayers to make direct deposits of tax returns to the IRS with the use of credit cards. Taxpayers are immediately informed of receipt of their application and payments and are provided with a verification number. Electronic payments are a safe and secure method for filing returns. The Electronic Federal Tax Payment System (EFTPS) system allows taxpayers to schedule recurring payments from their bank accounts.
Free Federal Tax Return
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