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Refinance Your Mortgage if You Can Cut At Least One Point - Refinancing a mortgage only makes good sense if you are going to save more than 1% on the...

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Tax Electronic Filing

Electronic filing is gaining popularity among taxpayers. Last year, over half of all taxpayers took advantage of online software to file their taxes. There is a variety of companies producing tax programs to make the job a little easier.

The federal government has negotiated terms with several of these private software companies to allow some taxpayers to use the service free of charge. If you make less than $56,000 a year, you may qualify for this free service. There are exceptions, such as bankruptcy, or capital gains. If you are filing a return for someone who has passed away, you will likely need an upgraded version. The free tax electronic filing software is usually geared toward simple tax returns. If your income tax is more complicated, you will have to use an upgraded version to file your tax return.

The IRS Website lists the various tax software approved by the federal government. You will want to do a little research on the many programs available to find the most appropriate service for your situation. Online reviews may help you decide which program will fit your needs. Other taxpayers who have used the service use the reviews to outline the pros and cons of a particular product. You will want to find out which service works the fastest. Others may be confusing or difficult to understand. Some programs consistently pinpoint common mistakes. Some tax preparation software will feature free calculators to help you maximize your tax savings. For instance, you may be able to calculate the impact of a last minute charitable donation on your taxes.

Some programs will feature more questions, and hints to help you include all of the pertinent information. Unfortunately, some free tax services will include annoying suggestions to upgrade to a higher version. This can slow down the program. You will usually need two to three hours to file your return even when filing electronically.

Whether or not you are eligible to use online tax services free, the programs will make tax time a little less daunting, and time consuming. Electronic tax filing saves postage. Your tax return gets to the government more quickly than if you had to mail it. This means you will get any tax refund owed to you sooner.

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