A DIY Guide for Free Online Tax Preparation Services

A DIY Guide for Free Online Tax Preparation Services

Doing taxes is probably the single most dreaded thing that comes every year for many Americans. Many people choose not to deal with it themselves and they pay others to do their taxes by using expensive either computer software that you have to buy ev

ery year, or they simply hand their papers off to the local H&R Block professional. But what people don?t know is that there are many free online tax filing tools that are easily accessible and easy to use. These tools are found online and will change the way you do taxes forever. But, at the same time, many free tax filing tools online are not really free, and it?s difficult to determine which ones are legitimate.

For starters, there is a new free version of the well known tax preparation software, Turbo Tax that will almost do your taxes for you if you can plug in the numbers. If you are fairly young and don?t have any children or complicated tax related issues, this free tax preparation software is the perfect thing for you. Turbo Tax Free Edition will help you fill out simple tax forms like the 1040EZ and other simple returns. It might be useful to note that only filing federal taxes are free while you have to pay for filing state taxes.

A lot of websites

try to lure you in by advertising free tax filing in order to try and get you to buy other products like mutual funds, individual retirement accounts, or a refund anticipation loan. Now IRAs and mutual funds may be the right thing for you but a RAL is the real scam. These companies will tell you that you will get your tax refund within 24-48 hours with their website, but they are really offering loans. These loans can be risky and even if you don?t get your anticipated refund, you will have to pay off the amount of the loan. If you choose direct deposit for your refund, you should get your refund in 7-10 days so an RAL is unnecessary.

It might also be useful to mention that anyone with a valid military license is entitled to free tax filing and tax assistance, including free electronic tax filing from VITA, the Volunteer Income Tax Assistance program.

Free taxes may be a tempting deal that you might want to rush into, but you have to be wary of scams that might land you in debt.
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Natalie Aranda is a freelance writer. What people don?t know is that there are many free online tax filing tools that are easily accessible and easy to use. These tools are found online and will change the way you do taxes forever. If you are fairly young and don?t have any children or complicated tax related issues, this free tax preparation software is the perfect thing for you.

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