How To File An Online Income Tax Return
The easiest way to get your taxes done is to learn how to file an online tax return. Many companies have created free websites to help you file an online tax return. Your return becomes completely automated and most people have never had a problem getting their returns. The main benefit is that online tax returns take a lot less time. People usually get their returns in seven to ten business days. You will need your bank account and routing number in order to get your return direct deposited. The IRS website shows you where you can get your tax return filed online for free. There are income caps that vary from site to site, but with a little searching you can easily find a company that will perform most returns for free. One of the best sites is Turbo Tax Online. Once you get started you will see how easy it is to file online.
In order to file an online tax return, you will need:
- Your W-2 forms
- All other income sources
- Receipts for deductions you would like to take
- An account with an online filing company. To find one visit the IRS website or view the link at the end of this article. Or simply perform a search for IRS free filing or something to that effect.
- Gather all of your tax documents. You will need all of you and your spouse's W-2 forms for the previous year, as well as statements of any other income.
- Log in to whichever company you have selected to file your online taxes for free. The IRS website gives a complete list of free file options.
- First you will be asked general identity questions like address, social security number, etc. Make sure you have all of this information otherwise you will not be able to complete your return.
- Then you will be asked about income. You will need to input all of your income sources. This will include income from jobs, capital gains, business income, and interest income from various investments.
- Next, the section on deductions. These programs evaluate the best way for you to file and even give you form options. Include every possible deduction you can possibly think of. You may not be able to claim all of the deductions you would like, but the more you can think of the better. Include things like moving expenses, mortgage interest, student loan interest, business losses, etc.
- You will need your bank account and routing number. After you have completed entering all of the above information, your program will determine the best way for you to file. Your bank account and routing number is necessary for having your return direct deposited.
- Print your confirmation and you are done. Your return should arrive in 7-10 business days. The online filing company will contact you to let you know if there are any problems with your return.