Tax Filing Assistance For Taxpayers

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If you are yet to file your federal income tax returns for 2012, luck is at hand. This year, you will have a couple of additional days to do it.

Rather than the usual 15th April deadline, taxpayers can send their returns in as late as midnight 17th April.

A spokesman for the IRS, Christopher Miller, assured people that they have no need to panic.

The 2 day extension has been granted because the 15th falls on a Sunday, followed by Emancipation Day on the 16th, which is a federal holiday in the Colombia District.

As ever, according to Miller, lots of tax filing assistance is provided for filers completing returns at the last minute. For example, taxpayers can visit www.irs.gov/freefile and utilize the free IRS File on the internet. It provides complimentary software to e file and prepare taxes.

Miller stated that the group of tax help software businesses, called Free File Alliance, have affiliated with the IRS Volunteer Program for Income Tax Assistance to aid a greater number of lower and moderate level taxpayers. With this new affiliation, software is accessible at self serve computer terminals located in virtually 300 areas throughout 29 states, which includes the Quad Cities.

The group executive director, Tim Hugo, said that the Free File Alliance aims to offer online e filing and preparation services for US residents who may not be capable of paying for professional tax filing assistance or tax software.

The program, that started in 2003, offers people who earn $50000.00 or below complimentary tax preparation, along with personal tax help at nationwide locations. IRS certified voluntary staff assist taxpayers in the completion of their yearly tax returns, and offer tax credit information about credits that some taxpayers may be able to claim, like Child Tax Credits, Credits for the Disabled or Elderly and Earned Income Tax Credits.

At a local level, this program is managed by Quad Cities United Way and by additional sponsors, according to Scott Crane, who is president of the Quad City United Way company.

Crane said that, during the previous year, they did 5500 returns and that this year, by the 1st March, they were 15% up. Apparently, this meant that $5.5 million was returned back to the community last year.

The program ends on 14th April and is reachable in numerous local sites. These include the offices of the United Way in Davenport.

Paul Gilbert is a retired agent for the IRS from Davenport, who recently decided to volunteer for the program. Gilbert claimed that he has seen a constant stream of clients, while he was helping a client in the offices of the United Way.

LaVaughn Narbone, from Moline, started at the United Way the previous week, having learned about the program through a referral.

Narbone said that she had her taxes for this year completed in the Rock Island Martin Luther King Center, but that she also needed to complete her returns for the previous two years. The King Center, unfortunately, did not possess the correct software for doing this.

Sharon Scott from Davenport, another client, has used the program for a decade. She said she loves it because it is free and extremely thorough.

The H&R Block manager at Rock Island (1610 2nd Ave), Darnett Aldridge, claimed that lots of people are making use of his business’s offer to re assess tax returns which have been completed somewhere else.

Aldridge stated that many people who complete returns do it incorrectly and that he can sometimes save people as much as $10000.00.

The IRS said that most tax returns are electronically filed. A taxpayer that e files utilizes tax software which usually incorporates a question and answer style format. This format ensures that taxpayers get all of the deductions and credits to which they are entitled. Generally, the rate of error for e filed returns is lower than 1%, compared to about 20% for paper filed returns, according to the IRS.

Miller stated that people who are falling behind schedule can request a deadline extension on the internet, or by completing a 4868 Form.

Miller said that deadline extensions relate to tax filing, not to the time people have to pay the taxes they owe.

People who are unable to meet the tax paying deadline can phone the IRS to make arrangements for payment.

Miller added that a Fresh Start initiative was recently expanded by the IRS, which tries to help struggling taxpayers review their options for payment.

The owner of 4 Liberty Tax Services franchise offices, Theresa Harris, said she can see identical trends occurring this year that mirror trends which have occurred in the past.

Harris said that some people wanted their cash instantly, but then everything slowed down by March. Now though, she said the business owners who have to pay and the procrastinators are appearing. Apparently, this is exactly what happened over the past few years.

The Benefits Of Filing Your Taxes with FreeTaxUSA

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FreeTaxUSA can now support the 42 US states where a state tax return is required.  Additionally it can also support the District of Columbia, Vermont, and Montana.  Taxpayers residing in states that do not require state returns still have the option of filing a 100% free federal return on the FreeTaxUSA website.  Each year, there are been new states added, with this being the first tax season in which all 42 of the states are available. This means that more taxpayers can file their state taxes electronic than in the past with this great online tax product.

There has been no change to fees for preparation of state taxes on FreeTaxUSA.  They remain one of the most economical in tax filing industry.  Services included with a state return are preparation of forms and e-filing directly to the department of revenue for that state.  Unlike many other companies, FreeTaxUSA clearly posts preparation fees on their homepage.  They also have no hidden fees, or upgrades that are mandatory.  The price listed on the homepage, is the same price the customer will pay.

In order to save time, the necessary information is imported from the customer’s federal income tax return to their state one.  This enables much of the state forms to be filled in automatically.  This reduces the amount of possible errors as compared to a return that has been handwritten.  Once the state portion is completed, all applicable forms preparation will be complete and the return will be ready to be e-filed.  Customer are offered free support in case there are questions or problems.

Did You Forget To File Your Returns on April 15th with the IRS?

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Did You Forget To File Your Returns on April 15th with the IRS?

Are you late filing your tax returns and has April 15th already passed? In case you could not file your tax return or request for an extension of time, here some ways to clear your past due.

The Internal Revenue Service happens to be a bit sensitive regarding filing of tax returns. Even if you are unable to pay, it prefers you to do a file your return or take a filing extension. In the worst situation, the IRS simply puts you on a payment … Read the rest

TaxAct

Did You Forget To File Your Returns on April 15th with the IRS?

Are you late filing your tax returns and has April 15th already passed? In case you could not file your tax return or request for an extension of time, here some ways to clear your past due.

The Internal Revenue Service happens to be a bit sensitive regarding filing of tax returns. Even if you are unable to pay, it prefers you to do a file your return or take a filing extension. In the worst situation, the IRS simply puts you on a payment plan. If you are unable to file anything, then you will definitely receive a lot of unexpected attention from the authority.

Normally, you should make a point to always pay your taxes. Otherwise, it might bring on huge penalties as well as interests. In case the IRS happens to have any doubts, you might finally end up paying interest and penalties of up to 25% of your taxes. It’s really a huge charge!

In case there is a refund due for you, then there is no worry for you regarding any penalties even if you couldn’t file your taxes. This is because they owe you money. But are you crazy? Why are you giving the government a loan that is interest-free? You couldn’t have used that money for other purposes? Just be quick to get your return filed. Very few people will let go of their refunds. Always remember that you will lose your refunds if you fail to claim within three years from the original date of filing them. Truly speaking, if you are so lazy, then you deserve to lose your money!

In case you have to pay taxes but you don’t have money, then there is an alternative for you. You can even pay taxes to the IRS through credit cards. It’s definitely not a great option, as its interest rates are higher. But you cannot be audited by the credit card companies.

That some taxpayers may be unable to pay their taxes fully is well understood by the IRS. So to be on the safer side, even if you are unable to pay, it is always good to file your return.

Just Married or Divorced, Get Your Filing Name Right

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Just Married or Divorced, Get Your Filing Name Right

According to the IRS, if you were just married in 2009 or you just got divorced, there are some things to consider to make sure your tax return has the correct name and will be processed. Entering the right taxpayer name is vital to getting your refund quickly.

If there was a last name change of either spouse because of a marriage, make sure to contact the Social Security Administration. If the SSA doesn’t have record of your new name, the tax return can not be matched to your Social … Read the rest

TaxAct

Just Married or Divorced, Get Your Filing Name Right

According to the IRS, if you were just married in 2009 or you just got divorced, there are some things to consider to make sure your tax return has the correct name and will be processed. Entering the right taxpayer name is vital to getting your refund quickly.

If there was a last name change of either spouse because of a marriage, make sure to contact the Social Security Administration. If the SSA doesn’t have record of your new name, the tax return can not be matched to your Social Security Number. Likewise, if you changed your name after a divorce, you need to notify the SSA.

The SSA has a form you will need to complete called form SS-5. Changing your name with this government agency is fairly simple. You can also get a copy online, at a local SSA office or by calling them at 1-800-772-1213.

Adopting a child that doesn’t have a Social Security Number is the final issue that might delay your return. You need to apply for a SSN for the child or get an Adopted Taxpayer Identification Number (ATIN).