Efile Tax Return to IRS, Tax Return Preparation, Free Efile.Online Federal and state income tax return preparation software, efile tax return to IRS with our online tax preparation services. File your federal and state income tax online and get fast refund. |
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What is an ITIN/SSN Mismatch? Individual Taxpayer Identification Number (ITIN) holders frequently file tax returns under their ITIN with attached Forms W-2 showing erroneous Social Security Numbers (SSNs). This creates an ITIN/SSN mismatch. A mismatch return causes the IRS’ document-matching program to erroneously attribute the income and resulting tax to the SSN owner rather than the ITIN holder. This creates inaccuracies in both the SSN owner’s tax account and Social Security Administration records. New Guidelines (Effective December 31, 2003) When an individual comes to a volunteer taxpreparation site with a W-2 reflecting a SSN requesting return preparation and produces an ITIN, the volunteer should encourage the taxpayer to request a corrected Form W-2 from their employer or former employer. If the taxpayer is unable to do so, the volunteer may prepare the tax return with the documents provided. Reminder: Prior to completion of any tax return at a volunteer tax preparation site, the volunteer must request proof of identity. Two forms of identification are required. One must be photo identification such as
The second form of identification must be the original or a copy of the ITIN Card or Letter One or both of the forms of identification should reflect the taxpayer’s current mailing address. If the taxpayer cannot substantiate their identity, or if the volunteer is uncomfortable accepting the items presented as proof of identity, the taxpayer should seek professional assistance. Returns prepared with an ITIN/SSN mismatch cannot be filed electronically. Do not change any information on the Form W-2. Volunteers may prepare a paper return for the taxpayer once identity has been verified.
When an individual comes in to a volunteer tax preparation site and needs assistance with completion of Form W-7 volunteers should refer taxpayers to seek professional assistance unless a volunteer at that site has been specifically trained in completion of Form W-7 or an authorized acceptance agent is present to provide assistance. Each year there are millions of Americans who prepare their own federal and State Tax Returns and even more individuals have their taxes professionally prepared. Whatever choice a taxpayer makes there are a number of important tax tips that everyone should know. One of the popular tax tips that taxpayers should know about is tax deductions. It is estimated that each year the American public loses millions of dollars from tax deductions that they were entitled to, but failed to claim. A professional tax preparer and a tax software program may prompt an individual to claim tax deductions that they qualify for. Individuals preparing their own paper taxes are more likely to miss tax deductions that they may claim. To prevent this from happening taxpayers are encouraged to research the most frequently overlooked tax deductions to determine which deductions they may qualify for. Another useful tips of the most important tax tips that a taxpayer needs to keep in mind is that the Internal Revenue Service (IRS) and many state governments change or update their tax laws each year. For this is reason taxpayers are encouraged to check out the website of the Internal Revenue Service (IRS) or the website of their state tax department to determine if any of the tax law changes need to be applied to their federal or state tax returns. Another one of the most common tax tips that taxpayers need to be aware of is what to do if they can’t pay the amount of taxes owed on federal or state tax returns. The biggest mistake that taxpayers make when realizing that they cannot pay the amount due on their taxes is to not file a Tax Returns. Some people think that not filing a return will prevent a refund from being owed on time when in reality it can make the situation a lot worse. Taxpayers can file an extension deadline; however, the estimated amount of taxes owed is still due on the traditional tax deadline. The Internal Revenue Service (IRS) will impose a number of late fees and penalties on tax payments that were not received in time. Just ignoring the Internal Revenue Service (IRS) may increase the number of or the amount of penalties. THE INTERNAL REVENUE SERVICE really wants you to file tax returns electronically. Its goal is to have 80% of all returns filed electronically by 2008. The IRS promises quicker refunds than if you file by mail. Mailed returns face the bioterrorism threat of anthrax contamination. The IRS has responded by having mailed returns processed at off-site facilities. That adds to the delay in getting you a check. Combine electronic filing with direct deposit, and you could have your refund in your bank account by the next day. Or, you could be subject to an audit by the IRS Criminal Investigation Division! All that glitters is not gold. John G. Ams, executive vice president of the National Society of Accountants (NSA), has charged that some "delays in refunds on electronically filed returns ... stretch far beyond" the dates indicated by the IRS. NSA Tax Manager Bernie Philips reported receiving dozens of complaints from tax preparers about refunds on e-filed returns that were delayed four to five weeks--some even longer. Statistics from past filing seasons showed such refunds being paid within 10 days. Most disturbing to me was Ams' revelation that some refunds exceeding $10,000 are being reviewed by Criminal Investigation. The IRS keeps more than $10,000 of your money, doesn't pay you a penny of interest, and you're the criminal! Why is the agency targeting such e-filed returns? Theoretically, the sole difference between e-filed and mailed returns is the speed of processing. The IRS response was that it does not guarantee to pay a refund by a specific date. It recommends that taxpayers wait at least three weeks before even checking on the status of a refund. The IRS has issued a schedule indicating that direct deposit of tax refunds from e-filed returns would be made within one to two weeks, and that paper refund checks would be mailed within another week. However, this schedule is merely a target, not a guarantee. The easiest and quickest way to file a return and obtain a refund, is to do this electronically--a practice already used by more than half of all taxpayers. The conventional way of filing taxes with the IRS has been opposed by Online Tax Filling systems in recent times. Filing online will allow you to get your tax refund in as little as 10 days. The process of filing taxes online is simple and trouble free. The customer first prepares his tax papers personally or approaches professional tax consultants to do so on his behalf. After the tax papers have been prepared they can be effortlessly filed through an IRS e-file provider. Filing can be done online as well, but if an individual is not sure about the mechanics, it is better to seek professional guidance. Usually most tax experts will be licensed IRS e-file providers. The relevant documents are signed and retained by the customer for future reference. The IRS e-file provider then files the returns electronically on the behalf of the customers. Next, the IRS e-file provider sends the customer an acknowledgement mentioning the current status of the filing process. Online filing eliminates the need for going through tiring steps of rushing to the local IRS offices and post offices and waiting in never ending queues to post the papers before the due date. Office hopping has been completely eliminated. The only thing required is a reliable computer and Internet connection. Mistakes and errors can be corrected online in comparatively less time. Online tax filing has reduced the time gap prior to receiving tax refunds and papers can be printed to maintain precise records for future reference. Online tax filing also facilitates tax payments using credit cards. It has reduced back office processing time considerably. Join the millions of people who have discovered how easy, online tax filing can be. The cost will be much less, your tax forms will get to the IRS with no hand-written errors, and you'll get your tax refund in as little as 10 days. The term tax is very annoying to many ears. We must all accept the fact that there are many things that we do not like to do, but we have no choice in some matters. Tax Return Preperation is one such thing that any individual who has an income must do it. All individuals who have an earning are liable to pay taxes to the government. Tax payment is done annually and every individual must be prepared well in advance to pay his taxes and pay it in time. Tax return is the official document that lists the amount a person has to pay as taxes. Amount of tax is calculated on the basis of his earnings. Well, it is understandable that every individual will not have the capacity to accurately calculate taxes. So the best way for an individual out of this mess is to hire services of professional tax return calculation personnel. Once you have actually decided to hire the services of a professional to do your tax return preparation work, make sure that you hire services of the best in the business. After all, you are giving out money to hire the professional and you must get the best worth of your money. If you personally know of some accountant who will do the work for you, then there is nothing better then this. He can trust him fully to do your work in the best possible manner. Before you hire a professional to do the work for you, make sure that he is fully equipped to do exactly what you want him to do. Just check that the accountant has a professional CPA qualification recognized by regulating authority of the state where you reside. Take care to keep all your paper work that you will need in proper order to be used by the accountant. It is a good idea to have your tax return preparation calculated well in advance. Tax payment is a seasonal affair and everyone is in huge rush to get tax returns prepared in time to pay the taxes to the government. So, it is very much possible that at the eleventh hour you may find that all CPAs have been booked, and there is no one who can do the work for you. So in this regard getting the work done well in advance will help you in dealing with any situation. You will not face any last minute delay and fill the taxes in time without any hassles. If you are keen on doing the work on your own, you can do that also. You can do your own Income Tax Return preparation with the help of certain software that is specially designed for this purpose. You can find the software online. All you need to do is download it and install the software in your computer. You can sit in the privacy of your home, at your own convenient time and do the work peacefully. So you see that it is only matter of making choices, you just need to ensure that you make the best possible choice under the given situation for calculating your tax return preparation. Using the internet to file your taxes online is a convenient way to complete your tax return. If you are thinking about preparing your taxes online this year, then don't worry because it's easier than ever. Here is a quick guide to help you get your tax preparation and taxfiling online done fast and easy. Do you need help with your tax preparation? Not sure what forms you'll need to fill out? Not sure what deductions you qualify for? Wondering if you'll get a refund this year? You can find all the help you'll need with the aid of an online tax preparation program. Whether you're looking for the proper forms or looking for tax instructions, today's online tax preparation programs are packed with help, information and guidance. Federal and State Tax Forms You can find all of the tax forms you'll need when you prepare your taxes online. Tax preparation help, guidance and instructions is usually automatic so you can be sure your taxes are done right. Tips and Calculators Tax tips and calculators are just a few of the tools you can use for your tax preparation. Learn how to maximize your tax deductions with tips designed to get the most deductions possible. Use the tax calculators to estimate the amount of your refund or taxes owed. Help With Deductions Find out what deductions you can take, and maximize the amount of your Income Tax Refund. There are over 120 tax credits and deductions available, and all the paperwork is supplied for you. Are you getting all the tax breaks you qualify for? File Your Tax Return Electronically Once you have finished your tax return, it's easy to file electronically. If you are expecting a refund then you can usually have it in 10 to 16 days from the time you efile. The IRS has estimated that over 70 million people will prepare and file their tax returns online for the year 2007. With all of the tax preparation help available at online tax filing websites, it's a sure bet that this number will continue to grow.
Doing your tax return yourself can be a challenge. Learn how Free Income Tax preparation can make this a lot easier.
It is estimated by the IRS that over 70 million people will file their taxes online this year. Many of these 70 million tax filers will use the do-it yourself method offered at, IRS approved online income tax preparation services. Online tax return preparation has been specifically designed help you get through your tax return, fast, accurate and error-free. Let's see what's possible when you prepare your income tax returns online with east to use tax preparation services. You Can see every possible tax deduction. What this means is the tax preparation software will alert you to any tax deductions you might qualify for. You can then check it out in detail, to see how much tax money you can save using the deductions. You can do it easily yourself form home. You don't have to go out, You don't have to drive, You don't have to wait, you can start working on your taxreturn from home right now. A Keyboard and a Mouse is all you need to file and prepare your tax return online. Gone are the days of pen and paper, messy tax forms and complicated instructions. Everything you need to get a big and Fast Refund is there for you. So if you haven't already Now is the time to look into online income tax return preparation. You just might find a few new tax deductions you qualify for which could... get you a fast tax refund. You can use our fast and economical Tax Return Preparation Services provided by TaxBrain Online to prepare and efile your federal and state taxes online this year. Filing Federal Income Tax Returns Online Obviously, everyone who works is aware that Federal taxes are deducted from their paycheck and that paying taxes is the way we all pay for the services we get from the Federal government. This said, the process is perceived as complex and can be very daunting. Taxpayers are expected to learn about and understand changes in forms and tax laws each year based on what they read in the Federal instruction booklets they get. If those booklets and forms overwhelm you every year, you can get the help you need to make the experience as painless as possible by opting for filing Federal Tax Return Preparation online.You can use this Federal Tax Preparation service for tax return preparation. The government begins accepting tax returns on January 16th, but employers and others are only required to mail or deliver the forms by January 31. In general, most taxpayers are not able to start their taxes until early in February. Federal Tax Return Choices As frightening as filling out tax returns can be, there are ways to make the process less stressful. One of the best ways to feel more prepared to complete your return and to get Fast Tax Refund is to start keeping track of tax-related documents each January so that you'll have them ready when you need them. Instead of just stuffing receipts into a box at random, separate them into categories using envelopes or dividers. If you've been diligent about collecting records all year and are still overwhelmed by the forms, you can select an exciting and fairly new option--filing Federal Income Tax returns online. This entails using an online tax filing website that will guide you through each step of the process. In many cases, these forms can save you valuable time and introduce you to deductions you might have missed. The programs are designed to make filling out your tax return as painless as possible while offering accuracy and support. More and more Americans have chosen e-file, which lets them electronically file an accurate tax return or get an extension of time to file without sending any paper to the Internal Revenue Service. The 2006 filing season set a series of records, highlighted by 73 million tax returns being filed electronically this year and home computer usage jumping 18 percent. E-file benefits Electronically is not for everyone, though. You must file on paper if you are--
E-file limitations Electronically is not for everyone, though. You must file on paper if you are-- Quick Tips for Paper Filing
Electronic filing (or e-file) is an undeniably great thing. It's faster, cheaper, and less worrisome than filing your Tax Return on paper. E-filing has a number of benefits you may not have considered. First and foremost, e-file is very accurate. Think about this for a minute. An IRS data entry person does not have to type your tax return into the IRS computers. This means the IRS can process your tax return faster, and you don't have to worry about clerical errors. A second benefit, you receive a confirmation that your e-filed tax return was accepted by the IRS. This confirmation is proof that the IRS received your tax return. Still, there are situations when you must file a paper return and mail it to the IRS. These situations include: Filing back taxes from 2004 or earlier. Tax Filing using amended tax return - Form 1040X. If you are trying to claim a dependent who has already been claimed by someone else. These returns require special IRS handling. Bottom line: if you can e-file, you should. If you cannot, mail in a paper return. And if you are mailing your return, I encourage you to send the return using the US Postal Service's Certified Mail with return receipt requested. That way you'll have proof that the IRS received your tax return. Why certified mail? It's the only evidence accepted by the US Tax Court that you mailed your tax return on time. One advices from my side: Do not mess with Taxes…….You've finally finished your taxes. But before you drop your return in the mailbox or push the computer send button, do a last-minute review to ensure it's really ready to go. The wrong filing status could cheat you out of tax savings. Missing or incorrect Social Security numbers could invalidate a credit and increase your tax bill. Did your return pass final inspection? Great! Send it on its way. Many people will file a 2005 Federal Income Tax Return even though the income on the return was below the filing requirement. The questions below will help you determine if you need to file a Federal Income Tax return or if you need to stop your withholding so you will not have to file an unnecessary return in the future. The Internal Revenue Service is providing this information as a part of our customer service and outreach efforts to Reduce Taxpayer Burden and Processing Costs. Changing your withholding and/or not filing Unnecessary Returns will save both you and the government time and money. Even if you do not have to file a return, you should file one to get a refund of any Federal Income Tax withheld. To determine if you need to file a Federal Income Tax return for 2005 answer the following questions:
Will you owe any special tax on a qualified retirement plan (including an individual retirement account (IRA) or medical savings account (MSA) ? You may owe tax if you: Received an early distribution from a qualified plan Made excess contributions to your IRA or MSA Were born before July 1, 1933, and you did not take the minimum required distribution from your qualified retirement plan. Received a distribution in the excess of $160,000 from a qualified retirement plan. Will you owe social security and Medicare tax on tips you did not report to your employer? Will you owe uncollected social security and Medicare or Railroad retirement (RRTA) tax on tips you reported to your employer? Will you be subject to Alternative Minimum Tax (AMT) ? (The tax law gives special treatment to some kinds of income and allows special deductions and credit for some kinds of expenses.) Will you owe recapture tax ? Are you a church employee with income in wages of $108.28 or more from a church or qualified church-controlled organization that is exempt from employer social security or Medicare taxes? This blog is a sponsored blog created or supported by a company, organization or group of organizations. This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation. The compensation received may influence the advertising content, topics or posts made in this blog. That content, advertising space or post may not always be identified as paid or sponsored content. The owner(s) of this blog is not compensated to provide opinion on products, services, websites and various other topics. The views and opinions expressed on this blog are purely the blog owners. If we claim or appear to be experts on a certain topic or product or service area, we will only endorse products or services that we believe, based on our expertise, are worthy of such endorsement. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer or provider. The owner(s) of this blog would like to disclose the following existing relationships. We are working as an Affiliate with TaxBrain. And in return they give us a Commission. |
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