Tax season is right around the corner. Whether your work part-time, full time, or freelancer, the faster you get your information to the IRS, the quicker you can get a return. The fastest way to achieve this is to do your taxes online. While multiple companies will do your taxes for you, if you want to yourself below is are the things needed to file yourself.
To begin, head over to the IRS website. Here you will find where you report your taxes and send payments or get a refund through the e-File method.
The IRS provides several methods to file online. If your adjusted gross income is $69,000 or less, you can use the IRS Free File Online option. It will list several third party services that will aid in putting your taxes together and getting them filed at no charge.
If your income is over $69,000, you can fill out the forms provided by the IRS Free File. However, you will not be eligible for the support of free software. In addition, you will not be able to complete your state taxes this way. As a result, unless you know what your doing you will need to use a software solution or find a professional tax preparer.
The IRS lists several ways to pay online. In choosing the e-File route, the IRS can draw funds directly via Electronic Funds Withdrawal. An alternative option is to use IRS Direct Pay, which will pull funds from a checking or savings account. Lastly, the IRS also gives the option to pay with a credit or debit card, but there might be a fee involved.
What About My Refund?
The IRS entices people to file online by getting them their refund faster. In most cases, your refund can show up in less than 21 days. Once you file, you can track your refund online or download the IRS2GoApp.
If you need help with your taxes, we recommend using a trusted online service or a tax preparer. If you found this article interesting or helpful, check out our other posts!