Financial Health
E-File Your Taxes For Free
By
Jan 21, 2010 - 12:12:04 PM

(HealthNewsDigest.com)-It may sound surprising, but two out of three taxpayers file their income taxes electronically, also known as e-filing. Once people e-file, they often don't go back to paper because e-filing puts them more in charge of their money, time and life.

E-filing can mean you get your refund faster than with old-fashioned paper filing. If you select direct deposit, your refund can be in your checking or savings account in as few as 10 days. You even save money on paper, ink and postage-and you save time because there are no last-minute trips to the post office. Everyone can use Free File, a service that lets you prepare and e-file your taxes at no cost.

Here's what you do:

Step 1-Get all your tax information together.

Step 2-Go to www.irs.gov/freefile to view your Free File options. Taxpayers with a 2009 Adjusted Gross Income of $57,000 or less can prepare and e-file taxes for free using one of the many commercial tax software offerings located at the IRS.gov Free File page.

For help in figuring out which company and software package is right for you, the easy-to-use tool, "Help Me Find A Company," will give you the best options.

If you don't require a software package with step-by-step help, you can choose Free File Fillable Forms. There are no income limitations, and you can use the free online forms to complete and e-file your taxes directly through IRS.gov. Free File Fillable Forms are available to everyone and look like blank IRS forms but also include basic calculations and even allow you to file an extension.

Step 3-Prepare and e-file your federal income tax return using a Free File software package or Free File Fillable Forms.

Electronically filed returns are transmitted by the company to the IRS using the established e-file process, which is safe and en- crypted for your protection. You'll get an electronic receipt for your records soon after your return has been received by the IRS. You can also print a paper copy of your federal tax return for your records. You never need an appointment to get your taxes done. The program is available 24 hours a day, seven days a week. You can even request an extension online.

Learn more at www.freefile.irs.gov.

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