Overview of Filing Taxes Online
Federal income taxes must be filed each year. You must figure out how much your taxes are and file a federal tax return with the IRS (Internal Revenue Service). Using the available online income tax filing websites makes this process easier. You answer numerous questions concerning your finances. The software will figure out your federal income taxes. You can then choose to continue and file electronically (e-file or electronic filing), print the tax forms and mail it or delete the information and do it by hand. Individuals and business owners can figure out federal taxes this way.
Steps For Online Federal Income Tax Filing
1 – Gather all of the required financial papers. Bring together any paperwork or details needed to file your federal taxes.
2 – Select a website to use to figure your income taxes. Choose one of the ones listed on the IRS website. The steps described here use TurboTax Freedom Project, but the other ones are comparable.
3 – Register or create a new account. This allows you to save your information, return later to it and to file your income taxes online. An account is not required, unless you want these options.
4 – Supply the requested personal information needed to figure your federal income taxes. Answer the questions presented on each page and then click on the “Continue” button. Review the information and make any needed changes.
5 – Answer the series of questions presented concerning your situation to determine the type of federal tax forms needed. This includes wages, income, deductions, credits and other tax situations.
6 – Take note of the upper left area of the screen as you progress. The number shown will alter as you figure out your federal taxes. Refunds will be green and money due will be red.
7 – Review your federal tax return for errors. The software will check for any missing details or figures. Make all requested changes. The results will be your figured federal income taxes.
8 – File your taxes online. Follow the direction supplied to complete the online filing, if this is what you want to do. You may need to supply information from last years tax form to electronically sign it.
Online Income Tax Filing Tips:
Many of the online tax filing websites offer free federal e-filing. Review the qualifications for this. It varies from individuals making under $56,000 to under $30,000. Choose one of these sites, if you plan to actually file your income taxes online.
Use the Help features of the federal tax filing websites to find additional information about the specific section you are working on.
Resources to Use to File Taxes Online:
http://www.irs.gov/efile/
IRS: e-file Online Options
http://turbotax.intuit.com/taxfreedom/
TurboTax: Intuit Tax Freedom Project