Filing Federal Taxes
Federal taxes must be filed each year. You must figure out how much your taxes are and file a federal tax return with the IRS (Internal Revenue Service). Using the available online tax filing websites makes this process easier. You answer numerous questions concerning your finances. The software will figure out your federal taxes. You can then choose to continue and file electronically (e-file or electronic filing), print the tax forms and mail it or delete the information and do it by hand. Individuals and business owners can figure out federal taxes this way.
Process to File Income Taxes Online:
Gather all of the required financial papers. Bring together any paperwork or details needed to file your federal taxes.
Select a website to use to figure your income taxes. Choose one of the ones listed on the IRS website. The steps described here use TurboTax Freedom Project, but the other ones are comparable.
Register or create a new account. This allows you to save your information and return later to it. An account is not required, unless you want this option.
Supply the requested personal information needed to figure your federal taxes. Answer the questions presented on each page and then click on the “Continue” button. Review the information and make any needed changes.
Answer the series of questions presented concerning your situation to determine the type of federal tax forms needed. This includes wages, income, deductions, credits and other tax situations.
Take note of the upper left area of the screen as you progress. The number shown will alter as you figure out your federal taxes. Refunds will be green and money due will be red.
Review your federal tax return for errors. The software will check for any missing details or figures. Make all requested changes. The results will be your figured taxes.
Tips for Filing Income Taxes Online:
Many of the online tax filing websites offer free federal e-filing. Review the qualifications for this. It varies from individuals making under $56,000 to under $30,000. Choose one of these sites, if you plan to actually file your income taxes online.
Use the Help features of the federal tax filing websites to find additional information about the specific section you are working on.
Helpful Resources to Use for Filing Federal Taxes:
IRS: e-file Online Options
TurboTax: Intuit Tax Freedom Project