Taxation is theft, but sometimes we can rig the odds in our favor and come out ahead when it is time to file our personal income taxes. Now before you start calling the IRS to report to get me audited, what I am talking about is perfectly legal, in fact, it is encouraged!
So many Americans, young people especially, recent college graduates, single parents, Millenials in general, are not wasting money and not getting the most out of their return by paying someone to prepare their State and Federal Income Tax.
Avoid Paying For What You Don’t Need
With the addition of the Affordable Health Care Act and new penalties for Americans without health insurance, it is easy to see how confusing understanding all of the tax laws can be. I am not discouraging you from seeking professional services if you require them, but in many cases, people think that by hiring a tax pro to file for them they will get a faster refund and more deductions.
This misconception often leads people to sign up for paid services, like e-filing and an audit checking, unaware that they qualify for a special stipulation that allows a large percentage of Americans to file both Federal and State income tax for free!
Popular online tax preparation service will often entice you to sign up for free electronic preparation and filing of your federal but charge you to import your information and file the state returns. The catch is, once you have originally signed up for the year, it is too late to register for the free filing program. Most free online tax preparation services have some sort of stipulation in case you are attempting use their free service but file on your own without paying. So, If you have already started putting in your W2 information, it is probably too late to qualify for the free file. The good news is, you can start the process over at one of the several online taxes preparers available.
Before you begin to prepare your taxes this year, check to see if you qualify for free state filing. I have used TurboTax for over a decade for myself and to show others how simple filing a 10W-EZ can be.