It definitely pays to file your taxes early, and according to the IRS about 14 million tax returns had been filed by the end of January, with just over 90 percent of thee filed electronically. These six reasons may help to convince you it’s a good idea to file early using free TurboTax online:
The average refund last year was about $2,800 and almost 75 percent of tax filers received a refund and of course a tax refund can be used for whatever you need it for.
Filing taxes with TurboTax early means that the IRS can send your information to FAFSA in plenty of time and this means that you can potentially receive financial aid for college, depending on your income.
Free TurboTax online is accurate and quick to use, and of course it is guaranteed to give you the most refund and to save you money. Standing in line at your local tax preparation office is a thing of the past with TurboTax and the system’s simple to answer questions will allow the program to search through over 350 credits and tax deductions.
If you file electronically with direct deposit, the IRS expects to issue 90 percent of tax refunds within 21 days, meaning that you can get that much needed tax refund as quickly as possible. You can save up to a couple of months of interest just by paying off debts such as credit cards sooner rather than later.
Many tax procrastinators make simple mistakes on their ta return such as putting down the wrong social security number or not signing their tax return. It is also very easy to rush through your ta return if you are trying to do it at the last possible minute, and filing your tax return ahead of time can avoid these errors and make sure that you take the time to do everything thoroughly and accurately.
TurboTax really can save you time and money and get you the biggest possible tax return as quickly as possible. Using free TurboTax online allows you to have more of your money to spend and to file your return completely and accurately.
2011 taxes are already in the books for most people. It is possible you simply forgot about taxes, were busy, or perhaps did not have the money to pay what you owed. If you have not filed yet, do not panic. If you have the capability, you want to go ahead and do your 2011 taxes as soon as possible.
If you are still not ready, contact the IRS and request an extension for taxes 2011. Depending on your circumstances, the IRS may not penalize you. If you are getting a refund, you should not be penalized at all for your late filing.
The best way to make the filing process go smoothly is to have all your tax information on hand. This can includes receipts, your total income, possible business expenses, and your taxes from last year.
2011 taxes can seem pretty daunting. If you are having trouble figuring out everything yourself, it can often be beneficial to use a program like Turbotax. This can help guide you step by step and show you the math and some of the deductions for taxes 2011 that you should make. Filing sooner means you will get your refund faster, or prevent late fees and interest piling up on money you owe.
Tax filing tips can help someone prevent tax refund identity theft, but there are tax filing tips that can keep someone from becoming a citric of this crime when he is filing his taxes 2011 or his taxes for any other year. There is vital information a person must place on every return. The return needs his name and his social security number. He needs to be honest about his income, but if more than one social security return is filed for the same number may or may not send up a red flag. The IRS cannot check everyone. The checks or the debit cards need to be sent to their intended recipient.
Many people rely on their tax return to make large purchase. Some people use their taxes to buy new cars or to make other large purchases. If the IRS gets two different terms from the same social security number, it flags the return. IRS agents need to go over the return manually. The need to process a return manually can delay the return for weeks or months. The IRS needs to figure out which return is legitimate and which return needs to be processed.
A taxpayer who has followed the rules all of his life may wonder why his tax return has undergone such scrutiny. It has to do with the way the organization processes returns. The return that gets handed in first is processed first. A later return coming in later causes an investigation to be launched. There may be times when the mistake comes about because of a transcription error. There are other times when it comes about because someone has stolen the original taxpayers social security number.
There are a few ways that you can go about checking the status of your tax refund. The IRS actually makes this easy for you to do. The following are some things you should know when you want to check for information about your refund.
1. One way to check your refund is to go the IRS website and search for the where’s my refund button. It is an interactive process where you answer a few simple questions. You will need to know your tax payer identification number, the status you used for filing and the dollar amount of your refund. This system is available at all times. You can find out if your information has been received and is being processed and also what date you can expect your refund.
2. Information should be available three days after the IRS sends you information saying the have received your return. This is when you e-file. If you mail in your return it will usually take three or four weeks for your information to be available.
3. Where’s my refund also has links to information about your individual situation if you need them. For example if you did not receive your refund within a certain amount of days after the IRS said you should, you can start action to trace your refund.
4. Anyone who is visually impaired can also use this service if they use they have the correct equipment.
5. For taxpayers who do not have access to the Internet or who would rather use the phone, that is an option as well. You can call the IRS hot line number and enter the same information you would need for where’s my refund.
6. The IRS now even has a smart-phone app that allows tax payers to check on their refund status. You can download the app from the Apple store or the Android store. The download is a free download and easy to use.
When filing their 2011 taxes a taxpayer may need to look at their past tax return for a vital piece of information. This information is available from the Internal Revenue Service. When attempting to obtain this information there are certain criteria you must know.
The IRS offers three ways to obtain this information. You may ask for it in a written letter, search for it online or you may call them by phone. You can also obtain forms to file your 2011 taxes through these options.
This is a free service for a transcript and records are available from the IRS from as far back as the last three previous years.
This transcript will only be for the original tax form filed with any attachments that were included. If you filed a corrected return this will not show on the transcript.
You can request a tax account transcript that will reflect any changes made after the initial filing. These transcripts will reflect personal information, schedule of tax return and your adjusted gross income.
This information can be obtained by logging on to www.IRS.gov. On the left side of the webpage under online services you will find a tool a link called Order Tax Return or Account Transcript or if you prefer to call the toll free number is 800-908-9946. You will receive a voice prompt that will guide you to what you need. These options take about 5-10 business days to receive your transcripts.
If you like doing everything in writing and have time to wait 30 days for this transcript you can request the forms by mail. You will need to use Forms 4506T or 4506T-EZ to order by mail.
To receive copies of returns older than 3 years old, you will need to complete the Form 4506 and mail it with $57 to the Internal Revenue Service listed or your area. It is recommended that you allow 60 days to receive these returns.
You can obtain the printable forms you need to request a transcript at the IRS’ website or call and request them from 800-TAX-FORM.
The Internal Revenue Service has made obtaining copies of your tax returns easy by following these suggestions. If you need a past tax return for information requested on your 2011 taxes, everything you need is available and easily obtainable through three simple options.