Thursday, October 12, 2006

Free Tax Filing

The preparation of tax documents and filing of tax returns is a complicated process and requires professional handling. Professional help is generally expensive and can burn the pockets of taxpayers if availed of. Taxpayers can also prepare tax files on their own but there are risks of committing errors when a large number of deductions and exemptions are taken into consideration. As a result, taxpayers seek professional help even though it is expensive. In recent times however, some tax experts and tax companies have started offering free tax filing services.

The principal means of filing taxes for free is through online websites of tax companies and use of software provided by them. These companies offer online tax preparation help and electronic filing through a partnership agreement with the IRS. Almost all the free tax filing companies offer services based on different sets of criteria to qualify taxpayers for the service. Companies offer free filing service for taxpayers whose gross annual income is below or equal to $50,000. There are also many age and area restrictions for free tax filing service. Some tax filing companies prepare and file taxes for people of only certain area codes and states.

Primarily, Form 1040EZ is used to file tax returns of these types of customers. The companies fill out the forms and prepare tax liabilities and file papers with IRS, abiding by certain rules and regulations as specified by the IRS. The IRS advises people to go through the IRS website and approach only listed companies for free tax filing. A majority of free tax filing companies provides quality feedback about the status of the filed papers. Nevertheless, there are some companies who may only offer sub standard services and may make the entire tax filing process slow and sluggish.

Free tax filing also existed over phone lines. However, they have now ceased to exist. Free tax filing is one of the best ways for people to seek professional help with tax payments at zero costs.
The preparation of tax documents and filing of tax returns is a complicated process and requires professional handling. Professional help is generally expensive and can burn the pockets of taxpayers if availed of. Taxpayers can also prepare tax files on their own but there are risks of committing errors when a large number of deductions and exemptions are taken into consideration. As a result, taxpayers seek professional help even though it is expensive. In recent times however, some tax experts and tax companies have started offering free tax filing services.

The principal means of filing taxes for free is through online websites of tax companies and use of software provided by them. These companies offer online tax preparation help and electronic filing through a partnership agreement with the IRS. Almost all the free tax filing companies offer services based on different sets of criteria to qualify taxpayers for the service. Companies offer free filing service for taxpayers whose gross annual income is below or equal to $50,000. There are also many age and area restrictions for free tax filing service. Some tax filing companies prepare and file taxes for people of only certain area codes and states.

Primarily, Form 1040EZ is used to file tax returns of these types of customers. The companies fill out the forms and prepare tax liabilities and file papers with IRS, abiding by certain rules and regulations as specified by the IRS. The IRS advises people to go through the IRS website and approach only listed companies for free tax filing. A majority of free tax filing companies provides quality feedback about the status of the filed papers. Nevertheless, there are some companies who may only offer sub standard services and may make the entire tax filing process slow and sluggish.

Free tax filing also existed over phone lines. However, they have now ceased to exist. Free tax filing is one of the best ways for people to seek professional help with tax payments at zero costs.

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home