June 3, 2008
Help Filing Your Federal Income Taxes
Filing income taxes each year can be a dreaded process. However, there is help for those who don’t understand tax issues that may impact how much tax refund or how much tax payment is due. Some of these resources are helpful while others cost a small sum, but getting professional help can be a big advantage to the taxpayer who might otherwise pay too much in taxes or unknowingly reduce their refund through lack of knowledge.
The first place to look for help in filing your income taxes is the local library. Many cities and towns have local tax experts who hold workshops or tax preparation events where you can have your tax return prepared for no cost or a very small fee. Frequently, the cost to students, the elderly and disabled will be waived even when a fee is charged. Many retired professionals volunteer their time to help people through these events and it is entirely possible that your local library may have a date set aside to help you get assistance filing your federal income taxes. Some libraries even offer state income tax assistance as well.
You may have a family member or very close friend that has worked in the tax preparation field that would be willing to assist you or at least answer some questions for you. Many times, if you want a second set of eyes to review your own work, friends or family members are more than helpful in checking your federal income tax return or your state income tax return. It is so easy to miss a line, make a mathematical error or another mistake that can cause your return to be rejected or take a long time to process and get you the refund you may have coming.
The IRS will actually figure your taxes for you if you wish. You can sign and submit the proper form (1040 or 1040EZ) and, provided you do not have a complex tax issue, the IRS will calculate and notify you of what you owe or send you your refund. This service is completely free.
Professional help is always called for if you have a complicated tax situation. You can turn to your regular accountant or to a tax preparation service. These professionals are paid to know how to minimize your federal income tax liability and will be glad to help you. Many even guarantee their work and will go to court with you should your return be challenged by the IRS.
Filing your income taxes really should be done by a professional if at all possible. If you take the time to do something right the first time, you normally don’t have to re-do it and the same applies during tax season. Give a tax professional the opportunity to file your taxes for you and do it right the first time.
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1 Comment on Help Filing Your Federal Income Taxes »
October 25, 2008
VicBils @ 7:06 pm:
Nick’s Adventures in Tax Land, 2007 Edition - After an adventure-filled first quarter of the year full of Wii hunting, economic stimulation, and financial apocalypses, it was finally time to sit down this weekend and sort out my tax situation for 2007. For the last few years, …