Archive for the 'Help Filling Tax Forms' Category

Information about Form 1041 in detail

June 29th, 2011 -- Posted in Help Filling Tax Forms, How to file Taxes | No Comments »

1040 Federal Income Tax Form:

Why should you file a 1040 Federal Income Tax Form? Here are some reasons:

  • Additional child tax credit
  • Earned income credit
  • First time home purchase credit
  • Health coverage tax credit
  • Recovery rebate credit

There are some exceptions for the children under the age of 19 and also for full time students. Under these types of situations, the parent or parents can include the dependent child’s income onto their tax return. You will want tax Form 8814 if you choose this option.

Resident Alien, Non-Resident Alien or Dual-Status Alien

Things can be different if you are a resident alien, non-resident alien or dual-status alien. In most of the cases non-resident aliens and dual-status aliens are required to use different forms. You may need to use the 1040NR or the 1040NR EZ tax form in such cases. For more detailed information on that you may take a look at Publication 519. This tax publication will help you to understand the necessities you to comply with the United States tax laws.

1040 Federal Income Tax Form Due Date is April 15th

If you haven’t filed your tax till April 15th, you can file for an extension using tax Form 4868. You must file this tax form by the original due date. Do not get filing your tax form and paying any taxes owed baffled in your mind. They are two very separate issues. If you owe, you must pay on time. The extension will give you six months to send in the paperwork but, if you owe, you must pay on time or else you will deserve penalties and interest on what money you owe.

Do You Need help To File The 1040 Federal Income Tax Form?

Our advice is to ask you to take a break and let the tax experts handle the tax area. They are fast, easy, secure, some of them guarantee the largest refund possible and they will do all of the hard work for you; while you can sit back and wait. They are always up-to-date with the latest tax laws. You can even try some of them for free. You do not pay unless you choose to file. Get started now!

Here are some tips for Free tax preparation

June 29th, 2011 -- Posted in Help Filling Tax Forms, How to file Taxes | No Comments »

e-file is becoming very popular these days for filing Income taxes. E-file is a very convenient method to take care of your money matters and you might be able to e-file your taxes for free, if you meet the criteria.

Free Tax Preparation:

This year, many companies are providing you a chance to file your tax returns for free. If you meet certain requirements, then you can also avail this benefit. Many companies are offering discounts too. You can find the list of free tax return preparers on the IRS website. Apart from e-filing, the IRS provides free fillable forms. The Free Fillable Forms can be a great help to get your taxes done quickly and with great convenience.

Some Important Tips:

· If you want to get your purchases financed, you should make use of free tax estimator tools. The tax calculator is based on RS 1040, 1040A, and 1040EZ federal income tax forms. You do not need to add any confidential personal information to make use of tax estimator tools.

· Another advantage of using the tax calculator or tax estimator is that it does not store any information and is not intended to manually file (mail in) or electronically file (efile) your tax return with the Internal Revenue Service (IRS).

· When you enter the most important tax information, the tax calculator will provide you with a tax estimate instantly.

· It also helps to find how your federal income taxes will be affected. It also helps you to plan and take important decisions like new job, marriage, divorce, mortgage refinancing, home or property purchase and much more.

· Your state income taxes may not be included while you go for free e-file. Some charge might be applicable to e-file you state tax return.

Need help with your taxes?

You can get free help for filing your tax. You can call up IRS taxpayers Assistance Centers for getting help on the same.

Beware of Scams:

Since the Tax season is in the air, you may find many scams rolling around. Be careful while choosing a reputed company. Before you start working with them, make sure that it is an “Authorized IRS e-file Provider”. If you can’t confirm something, call up an IRS Taxpayer Assistance Center.

Some useful information for taxpayers

June 29th, 2011 -- Posted in Help Filling Tax Forms, How to file Taxes | No Comments »

Several taxpayers search for relief to file their tax returns. It had been announced that the federal government will provide security this year. Many new programs will be introduced which will accredit, examine and monitor all the work of the taxpayers.

Now, the tax return preparers would have to pass a minimum of tests to prove their reliability and dependability. This will confirm whether they are capable of preparing the tax returns precisely.

IRS will provide funding to three non-profits that help the residents of South Bronx with their returns: the Food Bank for NYC/Food for Survival, Inc., the NYC Financial Network Action Consortium, and SEEDCO.

The money will support VITA grants through which volunteers provide free income tax preparation aid to low-Income, elderly, disabled and limited-English speaking people across New York.

The people found “in low incomes” and “from minority neighborhoods” need the tax benefits. The taxpayers who earned $ 49,000 or less during the year 2009 are eligible for the aid.

Tax Form 1040:

The standard form 1040 consists of few pages, but taxpayers need to fill some extra sections called “SCHEDULES”. Form 1040 comes with 12 optional Schedules. You won’t need all the schedules; you may need a few of them.

Whether you need Form 1040 or 1040A, you must find that out first. Standard deductions would mostly Form 1040.

Tax Form 1040A:

This type of simpler form has four different schedules:

  • Schedule 1: Interest and Ordinary Dividends
  • Schedule 2: Child and Dependent Care Expenses
  • Schedule 3: Credit for the Elderly or the Disabled
  • Schedule EIC: Earned Income Credit Qualifying Child Information

If you need to claim anything which is not mentioned in the above list, you should use Form 1040. A simple rule to find whether you need Form 1040A is that your taxable income has to be below $100,000.

Tax Form 1040EZ:

This is the simplest type of form. If your taxable income is below $100,000, you are filing single or married filing jointly, you (and spouse if applicable) are under 65 and not blind, you are not claiming any dependents, and your interest income is $1,500 or less, you can use this form.

Documents Needed for Filing Tax Returns

December 22nd, 2008 -- Posted in Help Filling Tax Forms | 2 Comments »

One of the most common questions related to tax form assistance is what records to bring in order to file tax returns without any further trouble. Filing tax returns can be daunting, but when you prepare the right documents, you can have a relatively easy time and be done with the task sooner than you think. Furthermore, when you prepare the necessary documents, they will be readily available and you can be as organized as possible.

There are different kinds of documents you must have at hand when you decide to file your tax returns. Of course, the first thing you need is proof of identification, which may be any valid ID card. You’ll also need the required earnings and wages statements, namely Forms 1099-R, W-2, W-2G, and others. You’ll need a copy of your tax return last year, bank routing and account numbers, and dividends and interest statements given to you by banks, brokerages, and other relevant financial institutions. Naturally, you’d want to claim exemption for yourself, your spouse, and people you can claim as your dependents. Thus, you’ll need your, your spouse’s, and your dependents’ birth dates, which you may verify through birth certificates. If you paid for childcare, you’ll need the amount you spent, as well as the tax identification number of the childcare provider whose services you chose to hire. Finally, if you took part in any charitable work, you’ll need to present the receipts for all the charitable donations you made.

With preparation, you can beat the expected hassle that comes with filing tax returns. For more questions on anything related to tax form assistance, search the worldwide web.

Tax Form Assistance for Preparing Returns

December 15th, 2008 -- Posted in Help Filling Tax Forms | No Comments »

Filing tax returns seems like a complicated task. The truth is that it can be made easy through the help of tax form assistance. There are several options you can turn to if ever the thought of filing your tax returns feels overwhelmingly daunting.

Your first option is to prepare your tax return all on your own. These days, you can find many websites that offer information on what you need to do in order to file your tax returns without any difficulty. You won’t have any trouble looking for tax form assistance on the Internet. Plus, you can use a tried and tested tax software program to lend you a virtual helping hand. Tax software programs can make the preparations for filing tax returns a whole lot easier, and they can make you understand better each of the deductions and credits that you are eligible for. Moreover, with the use of a tax software program, you can conveniently e-file your taxes – that is, you can simply file tax returns online.

Another option is to hire a professional. You need to exercise caution in this endeavor and hire someone that is both qualified and credible. Ultimately, you are still the one responsible for filing your tax return and the IRS won’t put the blame on anyone else in case errors occur. Before signing your tax return, make sure to comprehend every entry and check if all the pieces of information included in your tax form are accurate. Moreover, sign only a finished tax return and have the professional sign it in your presence.