Due to their unrelenting stubbornness and absolute refusal to embrace technology, my parents will never know the joys of filing their taxes online. Even if you are far from tech savvy, you can still successfully file your taxes from the comfort of your home office. The process is not complicated, though it requires a little bit of research.
And by research, I mean reading some simple instructions, and then following them to the letter.
If you do not complete the online forms correctly, there’s a chance you could be slapped with a penalty for filing late. Bottom line: Read all of the instructions before you even commit to the process, make sure you understand the type of forms you must file, and realize that no matter what, you and you alone will be held responsible for any problems with your return if you choose to file electronically without the aid of a professional.
Before you knock yourself out researching different e-filing options, check out the Internal Revenue Service’s website first.
The IRS provides a free e-filing service to taxpayers, though there is a catch. The service, dubbed “Free File,” is only available to individuals who earned $58,000 or less in a given year. It’s basically an online version of a simple 1040 and 1040EZ. If you are required to submit additional forms to the IRS, then you will not be able to use the free service. Also, don’t expect any fancy assistance. The program will help you with simple calculations and offer basic guidelines, but that’s it.
If your taxes require more work and additional forms, you are not disqualified from filing electronically. Turbo Tax, Tax Act, and Tax Slayer are just some of the online tax preparation programs offered to people who have more than just basic needs. Most of these online programs provide a checklist to assist individuals who are preparing the electronic forms at home without a professional.