What The Income Tax Software Companies Don't Want You To Know
by Stephanie Gallagher
Haven’t done your taxes yet? No problem. Now there is a new way you can
use top tax software programs, like TurboTax and H&R Block, to get
your taxes done quickly and easily. And the best part is it won’t cost
you a thing.
The secret is an IRS program called Free File, that allows you to
prepare and file your federal tax return electronically, using these and
dozens of other popular tax software programs, for free!
Free File has been around for a few years, but it used to have very
stringent income requirements (i.e., only taxpayers whose incomes were
below a certain level could use it). This year is the first time the
service is being opened up to 99% of taxpayers.
Important: You must go through the IRS official web site in order
to get this deal. Go to
http://www.irs.gov and click on the link
at the top of the home page that says Free File.
(Note: It’s not on the navigation bar. It’s on the home page itself.)
Next, you’ll want to click the gray button at the bottom of the page
that says, “Start Now.” At this point, you’ll have the option of
browsing all of the services offered or choosing to use the
“Guide Me to a Service” wizard to help you select one. The wizard will
ask you a few basic questions about your age and income and then come
back with a list of companies whose free products meet your needs.
Why is the IRS doing this? In a nutshell, to save money. It’s cheaper,
faster and easier for them to process returns electronically.
Why should you do it? Because it’s cheaper and easier to file,
and you can get your refund faster.
Why are the big tax companies offering this deal? They’re trying to
get you to upgrade to one of their deluxe products, which offer things
like tax planning advice, the ability to import data from software you
used last year, etc.
Also, state tax programs are not included in this deal. So the
companies probably figure that if you use their free federal program
you’ll end up buying their state one.
Remember: You must go through the IRS official web site in order to
get this deal. If you go to the tax companies’ sites, you will not get
this offer. In fact, some of these companies not only charge you to do
your return online, but then they’ll also hit you with a fee once you
try to file electronically. So you’ll pay twice if you don’t go through
the IRS web site.
Happy tax preparing!
Stephanie Gallagher reveals her closely-guarded shopping secrets
in her ezine, The Shopping Mom’s Weekly Tip.
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