While our site doesn’t feature every company or financial product on the open market, we believe everyone should be able to make great financial decisions with the utmost confidence. The guidance we offer, the information we provide, and the tools we create are objective, independent, straightforward — and free.

So how do we make money? Our partners compensate us. This may influence what products we write about and review and where on the site we put them. In no way does this affect our recommendations or advice, which are grounded in many hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners.

taxes

Taxes

Filing taxes can be a challenge, but knowing some basic terms and forms can make tax season less stressful when filing online.

Taxes online

Tax software will help you prepare and file your income taxes faster and more efficiently than filling out the long 1040 paper forms. It keeps things organized, provides step-by-step instructions, and calculates how much you owe or how much the government owes you.

taxes online“They tend to ask you a series of questions and then walk you back through each section so you can review everything. They then file your return automatically to the IRS,” says Wes Brown, a board-certified financial planner at Cogent Blue Wealth Advisors.

Because tax software automates much of the filing process, it saves time and money while helping to ensure your return is accurate and follows the latest tax laws. Your part is just answering some questions about any life events in the previous year (like getting married or having children) and correctly typing in data off your W-2s, 1099s, and other relevant forms.

The great thing about most tax software is that you need to know prior knowledge about taxes to use it with some of them. Plus, a tax software program may keep you from having to pay a considerable fee to hire a professional accountant, enrolled agent, or another tax pro.

Taxes 1Taxes 2

Irs taxes

irs taxesFor the most part, the earlier you file your tax return(s), the quicker you’ll get your refund. The IRS begins processing returns in January, and by and large, you will receive your refund in 21 days or less. But you can file as early as you get your tax documents, including your W-2. Filing early also helps prevent identity theft or fraud.

If you chose to get a direct deposit:

You should receive your tax refund in the bank the same day the IRS releases your refund. Depending on the bank, it will typically take three to five days for your bank to process.

If you wanted a prepaid card:
Refunds typically come two days faster than the standard direct deposit.

taxes near meTaxes near me

The 5 Best Tax Preparation Services of 2022
  • Best Overall: Turbotax.
  • Best for Ease of Use: Jackson Hewitt.
  • Best Online Experience: TurboTax Live.
  • Best for Self-Employed: EY TaxChat.
  • Best for Small to Mid-Size Businesses: KPMG Spark.

Taxes calculator

taxes calculatorMost Americans must pay federal income taxes, but what they owe depends on a few factors. We’ll use your info to estimate your filing status and taxable income, then answer the question, “How much will I get back in taxes?”

Feel free to use Turbor Tax income tax calculator. You will need to answer a few questions about your life, income, and expenses. Once done answering the questions, it will calculate what kind of a return you will get or find out if you owe them.

How to file taxes for free 

how to file taxes for free

What is the best free tax filing online?
Free Online Tax Preparation Software and Services
  1. TurboTax Federal Free Filing Option
  2. TaxSlayer.com Free File Federal. 
  3. Cash App Taxes. 
  4. TaxAct Free Edition. 
  5. FreeTaxUSA Free Edition. 
  6. FileYourTaxes.com. 
  7. Free File Fillable Forms.

FAQ’s

What do I need to file my taxes?

Whether you prepare your taxes yourself or get help from a tax preparer online or in-store, knowing what documents you’ll need at hand can help prevent tax filing errors and possibly lower your tax bill.

  1. Social Security documents.
  2. Income statements such as W-2s and MISC-1099s.
  3. Tax forms that report other types of income, such as Schedule K-1 for trusts, partnership and S corporations.
  4. Tax deduction records.
  5. Expense receipts.

What happens if you don’t file taxes?

A Failure to File Penalty of 5% of the unpaid tax obligation for each month your return is late (won’t exceed 25% of total unpaid taxes. … After 60 days, you’ll owe a minimum Failure to File Penalty of $435, or “100% of the tax required to be shown on the return, whichever is less,” according to the IRS.

Can you file taxes without a W2?

Yes, you can still file taxes without a W-2 or 1099. Usually, if you work and want to file a tax return, you need Form W-2 or Form 1099, provided by your employer. If you did not receive these forms or misplaced them, you can ask your employer for a copy of these documents.  However, if you can’t get a copy of those you can use form 4852 a “substitute for W-2 form, wage and tax statement.”

Send Us A Message