How To E-File Taxes
If you're seeking to reduce your taxes from a major headache to a quick and convenient affair, you might have already taken more than just a passing interest in knowing how to e-file taxes. When you e-file your taxes, you're not only sparing yourself the hassle of paperwork and guesswork with tax worksheets, but also reducing the likelihood of inaccuracies and future tax audits. The following advice will help you make the most of the benefits that come with filing your taxes online.
To e-file taxes, you will need the following:
- Your tax statements (all of your W-2's, 1099's, etc. for last year)
- A computer with internet access
- File online with the IRS. The Federal government provides its own central directory of tax companies contracted to help you e-file taxes, for free or for a fee, depending on your circumstances.
- File online with your state government. Most states have their own websites where you can go to e-file taxes. You can either do a direct search for your state government's online presence or go to the IRS website's central directory of state government websites which will point you directly to where you need to go.
- Read the instructions carefully. When you e-file taxes, you will find that the instructions are much simpler than filing on paper; for one, the system automates all the grueling worksheet calculations, minimizing the risk of inaccuracies. Follow the straightforward instructions; most of them involve nothing more than typing in the data found on the corresponding field on your tax statements.
Tips and warnings:
- When you e-file taxes with private entities contracted by the Federal Government, they may include filing state taxes for a fee. Be sure to proceed with caution; you can choose to file only Federal taxes and go to the individual state government website where you can e-file your state taxes for free.
- The IRS has e-filing options for individuals, corporations, and the self-employed, however, not everyone can e-file taxes. In addition, there may be limitations on filing online for free, based on income or other factors.