Last week we told you about two new IRS issued rulings that pertain to filing your tax return for 2010. Click HERE to read. And, now for several additional filing tips. 1) Using a smartphone app to file your taxes
Earlier this week, Intuit's TurboTax released a new mobile application that enables taxpayers who file the 1040EZ form to prepare and file both their federal and state income taxes on their smartphones. The app is called SnapTax. Although you can download it for free, you will be stuck paying $14.99 to file the returns.
Note: The 1040EZ is an abbreviated tax form that can be used by those who: a) claim the standard deduction and do not itemize, b) declare no dependents, and c) earned less than $100,000 in 2010.
2) Filing your return for free
And, as of Friday, many taxpayers can both prepare and file their federal tax return for free. It takes place via the IRS Free File Program. To qualify your 2010 adjusted gross income must have been $58,000 or less.
The IRS Free File Program is the result of a partnership between the IRS and a number of private companies that provide tax software. You'll find the necessary details at: www.freefile.irs.gov.
If your adjusted gross income is over $58,000, take a look at Free File Fillable. The IRS program comes with no income restrictions and has relatively easy to use electronic versions of the tax forms.
3) Getting your tax refund
If you file electronically and if at the same time you arrange for direct deposit of your refund, the IRS maintains that you will receive your refund more quickly - perhaps in ten days. The average refund for a return filed the old fashioned way (on paper) is several weeks.
4) Getting free help from the IRS
Now that we're officially into "tax season," the IRS is offering its daily tax tips on its Web site. They cover such popular topics as: how to select a tax preparer, where to get free help, what records to keep and for how long, what are legitimate tax deductions, who is a dependent, how to file for an extension and what to do if you don't have money to pay the IRS.
To read these and other bits of advice, go to: www.irs.gov and in the search box type: "daily tax tips."
- Nancy Dunnan