Free Tax Preparation and e-file

If you’ve been putting off doing your taxes, and would like to avoid manually filling out the forms, you might want to take advantage of a program offered by the IRS. It is a combination online tax preparation and e-file service for those who have an adjusted gross income of under $58,000. If you don’t fit the income requirement, there is another option which offers online versions of the paper tax forms along with a free e-file. For instructions and more information, you can access their site here: http://www.irs.gov/efile/article/0,,id=118986,00.html.

This service is available because of an agreement between the IRS and several tax software companies which are members of the Free File Alliance. You can choose which company’s software you wish to use. Depending on which one you pick, you may be able to file your state income tax return this way as well.

If you are due a refund, you can elect to receive a paper check, or have a direct deposit made to your bank account. The direct deposit option is quicker, and if you have it put in your savings account, there will be less temptation to spend it.