Free Federal Tax Return Filing Online and Get Fast Tax Refund Possible.
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Prepare and Efile Free Federal Tax Return Online. we make it quick and easy for you to efile your federal tax return to IRS.
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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. |
Free Federal Tax Return Online - It's Easy.
For the most people, preparing and filing taxes is a bother because they do not know how to handle the situation and the entire task in trouble-free and convenient way. Now, you can prepare and e-file your federal income tax returns for free through the IRS Free File program. Yes, it is fairly true and within your reach as well that can help you avail free tax filing benefits online!
Before you get started in the direction of availing free tax returns, it is of utmost importance to get familiarized with the basic concepts of Free File program. This program is offered through a public-private partnership between the IRS and top tax software companies available these days. If you meet the requirements, it can help you do your income taxes fast and more conveniently. It is quite safe to do it online and it does not cost anything.
Please note that Free File offers you two easy options to get started: easy-to-use software and online fillable forms. You have to choose from these alternatives according to your requirements.
You will be amazed to learn that around 70% of the nation's taxpayers are eligible for using this free software and secure e-filing option offered by private sector companies. Please note that several software products are also available in Spanish. Based on age, income and state residency, these companies set their eligibility requirements. However, if your adjusted gross income (AGI) is less than $58,000 in 2011, then you will be able to prepare and file free tax returns with the help of one of tax software products available.
It will not be an issue or you may not find it confusing when it comes to filing free tax return online. If you meet the requirements for using Free File, then you need to access it through the IRS official website. Using an online tool will guide you to the software for which you are eligible. The other option is to just go through the list of companies and their products offerings when it comes to making a selection for your task.
You need to opt for a suitable software product and then you will be directed to the company's website. When you arrive at the company's site, the software will offer you a step by step guide through the tax preparation and e-filing process. So, there is nothing to get worried about the process whether you are doing it for the first time or you are accustomed to it.
There is nothing to worry about the process if you are new to doing taxes online. Free File can do all the hard work for you and the software will assist you filing tax breaks, like the Earned Income Tax Credit, for which you may be due. The software asks you certain questions and you have to supply it with the right and proper answers. It will assist you finding out the right tax forms for you and will do the math for you.
As far as safety is concerned, Free File companies make use of the latest secure technology and you need not worry about the information you provide online. If you e-file and choose direct deposit option, you are more likely to get your refund in as few as 10 days.
Get Your IRS Tax ID Number and Tax Return Copy
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Free Federal Tax Return
Free federal tax return preparation and e-filing is possible with the help of software programs. In this age of technology, the process of filing taxes has become considerably easier and less painful than doing paperwork. So, you need to be very conscious about how to file your free federal 1040 tax return
- Decide early whether you are filing in paper or electronically.
- Start doing your taxes as soon as your W-2's in the mail
- Keep all the necessary information and things organized.
The above simple steps will help you do your task easier.
Electronic Filing :
If you are using an online service and software, the process of doing taxes is relatively painless and fast. It will ask you for information in an orderly way as to where the information required in your tax forms. The software you are using will ask you for information whether you are itemizing or not and also will guide you through the process step by step. It will help you checking for errors on your taxes prior to submitting them to the IRS.
Though most companies offer free filing services, some offer for certain charges. Some software will ask you whether you wish pay your fees, if applicable, from your refund or to pay up front. It will also let you know whether you want your payment directly deposited into your bank account. If you choose to get your IRS tax refund online with Direct Deposit option, then you will have it deposited into your account very fast compared to getting refund check to be mailed.
The key to filing federal taxes accurately is to have a reliable tax preparation and e-fling services and software. Whatever it may be, you should always they to file your taxes early to get your return processed early.
Do You Need to File a Federal Income Tax Return?
# Married Filing Jointly, Over 65 or Blind
# Earned Income NOT Over $6,500 ($7,550 if 65 or Older and Blind)
# Unearned Income NOT Over $1,950 ($3,000 if 65 or Older and Blind)
Was your gross income more than the larger of:
# $1,950 ($3,000 if 65 or older and blind), or
# Your earned income (up to $5,150) plus $300 plus $1,050 ($2,100 if 65 or older and blind)?
If Yes:
You need to file a Federal Income Tax return. Even if you do not have to file a return, you should file one to get a refund of any Federal Income Tax withheld.
If No:
Based on the information provided, you do not need to file a Federal Income Tax return for this year unless you need to receive a refund of payments already made.
If you have taxes withheld for Wage or Pension Income and have less than $300 of unearned income (e.g. interest, dividends, unemployment compensation), you can stop your withholding by filling out a new Form W-4, Withholding Certificate or a Form W-4P, Withholding Certificate for Pension or Annuity Payments. You may obtain the form you need from our Forms and Publications Page.
Give Form W-4 to your employer and mail Form W-4P to the company that sends your pension checks. To stop withholding before another year starts, you need to file the Form W-4 or W-4P by early December.
Reminders:
Form W-4 - You must file a new Form W-4 each year to continue the exemption. The exemption is valid for one year only. Each time you change employers and file a new Form W-4 make sure you claim the exemption from withholding.
Form W-4P - Form W-4P stays in effect until you file a new one or an IRS Examination results in mandatory "backup" withholding.
This information applies only to your Federal Income Tax return. State filing requirements are different. Please contact your state and/ or local tax office if you need this information.
Source: IRS.gov
# Earned Income NOT Over $6,500 ($7,550 if 65 or Older and Blind)
# Unearned Income NOT Over $1,950 ($3,000 if 65 or Older and Blind)
Was your gross income more than the larger of:
# $1,950 ($3,000 if 65 or older and blind), or
# Your earned income (up to $5,150) plus $300 plus $1,050 ($2,100 if 65 or older and blind)?
If Yes:
You need to file a Federal Income Tax return. Even if you do not have to file a return, you should file one to get a refund of any Federal Income Tax withheld.
If No:
Based on the information provided, you do not need to file a Federal Income Tax return for this year unless you need to receive a refund of payments already made.
If you have taxes withheld for Wage or Pension Income and have less than $300 of unearned income (e.g. interest, dividends, unemployment compensation), you can stop your withholding by filling out a new Form W-4, Withholding Certificate or a Form W-4P, Withholding Certificate for Pension or Annuity Payments. You may obtain the form you need from our Forms and Publications Page.
Give Form W-4 to your employer and mail Form W-4P to the company that sends your pension checks. To stop withholding before another year starts, you need to file the Form W-4 or W-4P by early December.
Reminders:
Form W-4 - You must file a new Form W-4 each year to continue the exemption. The exemption is valid for one year only. Each time you change employers and file a new Form W-4 make sure you claim the exemption from withholding.
Form W-4P - Form W-4P stays in effect until you file a new one or an IRS Examination results in mandatory "backup" withholding.
This information applies only to your Federal Income Tax return. State filing requirements are different. Please contact your state and/ or local tax office if you need this information.
Source: IRS.gov
Labels: Free Federal Tax Preparation, Free Federal Tax Return
Want to File a Federal Income Tax Return?
Many people will file a 2008 Federal income taxreturn even though the income on the return was below the filing requirement. The questions below will help you determine if you need to file a Federal Income Tax return or if you need to stop your withholding so you will not have to file an unnecessary return in the future.
The Internal Revenue Service is providing this information as a part of our customer service and outreach efforts to Reduce Taxpayer Burden and Processing Costs. Changing your withholding and/or not filing Unnecessary Returns will save both you and the government time and money.
Even if you do not have to file a return, you should file one to get a refund of any Federal Income Tax withheld.
To determine if you need to file a Federal Income Tax return for 2008 answer the following questions:
Occasionally, individuals have one-time or infrequent financial transactions that may require them to file a Federal Income Tax return. Do any of the following examples apply to you?
The Internal Revenue Service is providing this information as a part of our customer service and outreach efforts to Reduce Taxpayer Burden and Processing Costs. Changing your withholding and/or not filing Unnecessary Returns will save both you and the government time and money.
Even if you do not have to file a return, you should file one to get a refund of any Federal Income Tax withheld.
To determine if you need to file a Federal Income Tax return for 2008 answer the following questions:
Occasionally, individuals have one-time or infrequent financial transactions that may require them to file a Federal Income Tax return. Do any of the following examples apply to you?
- Did you have Federal taxes withheld from your pension and wages for this tax year and wish to get a refund back?
- Are you entitled to the Earned Income Tax Credit or did you receive Advance Earned Income Credit for this tax year?
- Were you self-employed with earnings of more than $400.00?
- Did you sell your home?
- Will you owe any special tax on a qualified retirement plan (including an individual retirement account (IRA) or medical savings account (MSA)? You may owe tax if you:
- Will you owe social security and Medicare tax on tips you did not report to your employer?
- Will you owe uncollected social security and Medicare or Railroad retirement (RRTA) tax on tips you reported to your employer?
- Will you be subject to Alternative Minimum Tax (AMT)? (The tax law gives special treatment to some kinds of income and allows special deductions and credit for some kinds of expenses.)
- Will you owe recapture tax?
- Are you a church employee with income in wages of $108.28 or more from a church or qualified church-controlled organization that is exempt from employer social security or Medicare taxes?
Source : irs.gov
You Must File a 2008 Federal Income Tax Return to get your Stimulus Payment
Even if you aren’t normally required to file a federal income tax return, you must file one if you want to be among the 130 million individuals who will receive a check from Treasury beginning in May of this year. The IRS will use information on the 2008 tax return filed by the taxpayer to determine eligibility and calculate the amount of the stimulus payment.
In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Parents and anyone else eligible for a stimulus payment will also receive an additional $300 for each qualifying child (subject to income phase-outs).
“We want to make sure everyone who is eligible for these payments receives them,” says IRS Executive Julie Rushin. “Most eligible taxpayers do not need to take any extra steps to receive the payment. All they have to do is file a 2008 federal tax return and the IRS will automatically do the rest. No other action, extra form or call is necessary.”
In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Parents and anyone else eligible for a stimulus payment will also receive an additional $300 for each qualifying child (subject to income phase-outs).
“We want to make sure everyone who is eligible for these payments receives them,” says IRS Executive Julie Rushin. “Most eligible taxpayers do not need to take any extra steps to receive the payment. All they have to do is file a 2008 federal tax return and the IRS will automatically do the rest. No other action, extra form or call is necessary.”
You Must Have a Valid Social Security Number
Taxpayers must have a valid Social Security Number to qualify for the stimulus payment. If married filing jointly, both taxpayers must have a valid Social Security Number. Children must be eligible under the Child Tax Credit and must also have a valid Social Security Number to be eligible as qualifying children.
You Must File a 2008 Federal Income Tax Return, Even if You Normally Would Not
Low-income workers who had at least $3,000 in earned income (such as wages) and other qualifying income in 2008 but do not otherwise earn enough to be required to file a federal tax return need to file a return to qualify for the stimulus payment. Other qualifying income includes Social Security benefits, certain Railroad Retirement benefits, or certain veterans’ benefits.
Source : irs.gov
Top Tax Credits to Take When Preparing Your Federal Income Tax Return
When you are preparing your federal income tax return, you should be aware that there are many different tax credits available to taxpayers. We are going to focus here on some of the more common ones to take advantage of.
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
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
Free Federal Tax Return
File your federal income tax return for free by using Tax Services, one of the best IRS's efile aurhorised partner. You prepare your tax return on the Web, and e-file the return for free. Do Your Federal Taxes Free – Free to Prepare, Free to Print, and Free to e-file
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