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Prepare, print, and e-File your tax return for free! It is easy to use TurboTax, the #1 rated and #1 best selling tax software. TurboTax Federal Free Edition was created for people who do not require much tax guidance and have simple tax returns, regardless of income level. TurboTax does the following: asks easy questions and puts your answers on the right forms for you (1040EZ, 1040A, and 1040), saves your progress, handles different types of wages and income (W-2s, unemployment benefits, retirement, disability, and survivor benefits), checks for mistakes, guarantees accurate calculations, is always up-to-date with the latest tax laws, allows you to preview your tax summary and 1040 tax form before you file, tracks your tax refund in real time, and speeds up your tax refund. File your taxes for free, click here!

e-File Taxes

Electronic tax filing (e-filing) is a relatively new process that uses the Internet to submit tax documents to the government. This has sped up the tax filing process as there is no longer any need to submit paper documents to the IRS. When you e-file your taxes you are required to either enter an electronic PIN or your previous year’s tax return’s adjusted gross income. This measure was instituted to add a layer of security to the whole electronic tax filing process.

OnLine Taxes

OnLine Taxes (www.online-taxes.com) was founded in 1999 and is an IRS authorized e-file provider and partner. The company is located at 724 Jules Street, St. Joseph, MO, 64501. The company provides state and federal online tax preparation and e-filing services for individual taxpayers. OnLine Taxes’s mission is to provide taxpayers with a low priced, simple, easy, fast, secure, and accurate income tax preparation. OnLine Taxes has e-filed more than 1 million tax returns and serves several hundred thousand customers each year. The company offers the following three tax products: OLT.com (a simple, guided online interview for individual tax preparation), OLTpro (for the professional tax preparer), and OLTpro Desktop (a desktop professional software product). With www.online-taxes.com, taxpayers can file a federal return for $7.95, state returns for $7.95, and access free customer service via e-mail and live chat.

Federal Income Tax

Federal income tax is levied on both personal and corporate income. The amount of tax you pay depends on the tax bracket you fall into. The federal tax brackets are structured so that individuals are taxed at different rates depending on the income that they generate. Basically, the more income you bring in, the higher the tax bracket you will be in. Federal income taxes are the primary source of the federal government’s revenue. Federal income tax currently maxes out at 35%.

Tax Filing Statuses

Your filing status determines your filing requirements, standard deductions, and correct tax. Your filing status also determines whether you are eligible to claim certain credits and other deductions. There are the following five filing statuses: single, married filing separately, married filing jointly, head of household, and qualifying widow(er) with dependent child. For people who can be classified under more than one filing status, they should choose the one that will give them the lowest tax.

Tax Return and Child

You can include your child’s unearned income on your tax return provided the following conditions are met: your child is under the age of 18, your child has gross income only from interest and dividends, interest and dividend income was less than $8,500, your child does not file a joint return, no federal income tax was withheld from your child’s income, and no estimated tax payment was made under your child’s name and social security number.

Can I pay the taxes I owe in installments?

Yes, you will need to contact the IRS to set up a monthly payment plan. Keep in mind, that the IRS will charge you a one time user fee of $105, as well as interest on any tax not paid by its due date. In addition, the IRS might also charge you a late payment penalty unless you can show reasonable cause for not paying the tax by April 15.

What happens if I do not file a tax return and am required to?

If you do not file a tax return you will be subject to a penalty and possible criminal prosecution.

I am married, what do I need file for tax purposes?

As a married person, you and your spouse can either file a joint tax return, or you can file separate tax returns.

What happens if I am unable to pay my taxes?

If you are unable to pay your taxes in full, you may be eligible for an offer in compromise.



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