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April 18, 2018

Online Income Tax Return – File Taxes Online

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Income taxes need to be filed within the specific time period, so that unnecessary penalties and problems can be avoided. Doing taxes is one of those issues that need to be done properly. You have to deal with various forms, documents, receipts for the whole year, and other required information. In order to avoid complexities, you can consider doing your taxes online using software programs available.

During the tax season, most of the accounting firms have heavy load of work. Also, you will see that the majority of the certified public accountants are busy in paper work. With online tax return preparation and e-filing option, things have come a bit easier and faster. You do not have to rush to your accountant now and then for seeking his or her guidance. You can do it easily and conveniently using software online. Using internet facilities, you can contact a certified public accountant and send your tax details online.

There are numerous websites offering online income tax preparation and e-filing options. You will be able to save your valuable time as well as your money if you choose to do your task online. Most online tax filing companies provide the facility of calculating or estimating the exact amount of taxes that need to be filed.

Now preparing and filing return online is not only easy but also free. You can visit the IRS website to avail the benefit of using Free File software when it comes to filing online federal tax return. If your AGI income is something less than $57,000, you can use this free file option. If you do not qualify for using this software, then you can consider Free File Fillable Forms to prepare and file your return forms electronically. Most tax return preparation and e-filing firms provide services at a reasonable rate. Calculating tax amount using online calculators and filing your return online is easy now.

Onlinetaxspecialist.com provides Online Income Tax preparation and e-filing services. Prepare your Online Tax Return with us and e-file electronically to get faster refunds.

April 15, 2018

Free Federal Income Tax Return Preparation And E-Filing Option

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Everyone wish to file his or her own federal income tax easily and hassle-free manner. And therefore, either they get a professional tax preparer to do it for them or they prefer to do it with the help of online software or e-filing services available. Now you can prepare and file your income tax return for free. Find out the best company that offers you free e-filing option and submit your return electronically in timely manner.If you wish to avail the benefits of Free Federal Income Tax preparation and filing, you should visit the IRS website. Through a partnership with some private software companies, the IRS provides Free Filing program using which you can prepare and file your federal return for free. If you qualify for it, then you can use it and to be eligible for using it, your adjusted gross income should be something less than $57,000. Also there are other IRS approved companies that you can go for. It is very easy to choose a company that you can seek help from for doing your task. Just visit the IRS website and go to the Free File option where you will see “Help Me Find A Free File Company” which will help you find out choosing a company for you.Once you choose your free federal tax return preparation company, you can start planning out your taxes. Though the online software will do all sorts of math and calculations for you, you need to have all the information and required documents close by so that it will become easy for you to provide information asked by the software at the time of preparing your return file online. You need to provide the right information so that your return file becomes accurate and authentic. You should be cautious about the fast that you may get penalized if your return file found to be fraudulent.Using software online, you will be able to do free federal tax filing easily. If you follow the step by step instructions and provide the software proper answers and information, you will be able to complete your task within an hour or even less span of time. At last, e-file your return availing the advantage of direct deposit option to get your refunds online. Using direct deposit feature, you will be able to get your refund money as few as 10 to 14 days.

Free Federal Tax preparation offers Free Federal Return preparation and e-filing services for your federal and state income taxes. File your Free Federal Tax Online free at free federal tax preparation.

April 6, 2018

Federal Income Tax Return – Calculate Returns Using Efiling

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For more information on Federal Tax Forms and Federal income tax returns, please visit our websites.

April 3, 2018

The how and why of Income Tax Return

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Income Tax Return is the legal obligation for every individual whose annual earnings for the previous year are more than the maximum limit of exemption for the payment of Income Tax in their respective category. The whole issue come under the provisions of the Income Tax Act 1961. ITR is filed when the particular entity has earnings have exceeded the levels mentioned in the Income Tax slabs according to the Income Tax Department. Earlier, filing ITR was used to be a very complicated process and used to took days for the entire process to execute in a smooth manner. It also required a host of documents and certificates for verification purposes making it a very confusing and tedious process. But now with the introduction of online process of filing tax returns, submission of IT forms has become faster and more efficient. It saves the time of the claimant and the filing process becomes much easier for the Income Tax Department to handle. The amount of paperwork involved also has reduced drastically.Income Tax Return has to be filed through a different Income Tax Form for every entity which is not confusing at all thanks to the persistent efforts of the Government to simplify the tax submission process. There are in total eight forms for the submission of Income Tax. Every type of entity has to file the Income Tax Return through a different Income Tax Return form(s). Following is the list of forms explained in the simplest manner to clear all the doubts in the minds of people who are due to file returns but are yet to identify the correct form to do so – ITR-1 is for Individuals having Income from Salary/ Pension/ family pension & Interest ITR-2 is for Individuals and Hindu Undivided Family (HUF) not having Income from Business or Profession ITR-3 is for Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship ITR-4 is for individuals & HUFs having income from a proprietary business or profession ITR-5 is for firms, Association of People (AOP) and BOIs ITR-6 is for Companies other than companies claiming exemption under section 11 ITR-7 is for persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) ITR-8 is for the Return for Fringe Benefits There has been a new form introduced called the ITR V through which all the data of the Return of Income/Fringe Benefits in Form ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8 transmitted electronically without digital signature. This form was specially introduced to cater to the needs of the filers who intend to use the online submission process. The whole proces of Income Tax Return filing can now be performed online. The amount of Income Tax can be calculated with the help on Income Tax Calculator and then the submission made online through the Income Tax Return forms online. The task of filing returns has now been made considerably easier and less time-consuming which is why people are all gung-ho about it.

Know more on Income Tax and Income Tax Return Forms at www.paisawaisa.com.

March 19, 2018

Doing Taxes With Online Income Tax Return Preparer

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Taxpayers normally have to decide whether they should do taxes with online income tax return preparer to do it on their own. No matter whether your return is prepared by an outside individual or firm, you, the taxpayers, are legally responsible for what you file with the IRS. If the IRS detects a fraudulent return, the taxpayer (and not the return preparer) has to pay the additional taxes, interest and penalties.The IRS advises taxpayers to be careful when it comes to choosing a professional Income Tax Preparer. Although someone else prepares a tax return, the taxpayer is finally responsible for all the information filled in the return. Therefore, taxpayers should examine the return before signing it.Like best tax preparer, you can also prepare taxes on your own when you have to deal with uncomplicated taxes. You need to have a computer with internet access and tax preparation software for doing taxes on your own.  In 2009, it is reported by the IRS that more than 32 million returns were e-filed from home computers.Now you can prepare and e-file your federal income tax return free using Free File program provided by the IRS if you’re eligible for that. There are several IRS-tested and -approved software companies that can help you prepare taxes on your and assist you submit your e-file to the IRS easily before the deadline.If you do not qualify for using Free File Program, then you can work with the IRS approved tax preparation services. What you need to so is to electronically file your income tax return, you don’t have to worry about your mail being lost. Moreover, e-file delivers a fast refund, in as few as 10 days with Direct Deposit. Please remember that there may be fees for tax preparation. Some online tax preparers may charge a nominal fee to give IRS e-file.

Prepare and e-file your taxes online with Internet Tax Preparer. The most taxpayers believe they benefited from using a professional Tax Preparers, but it is a bit expensive. Internet Tax Preparer lets you do it yourself easily and efficiently using internet facilities.

March 14, 2018

Four Important facts about filing your Income Tax returns in India

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Here are four important facts about filing your Income Tax returns in India. The Income Tax returns filing is mandatory, there is penalty for not filing, due date for filing and disadvantages of filing beyounnd due date.

(1) Income tax Filing is mandatory

Income tax return filing is mandatory for all tax payers even if you are a salaried employee, where tax is deducted at source. This is because as there could be instances where you have earned an income other than your salary income, for example, even in the form of interest earned in FDs that are taxable!

(2) There is penalty for not filing returns

Failing to file returns you will be levied a penalty in the form of a penal interest of 1% on the existing tax liability.

If you delay beyond March 31st 2010, irrespective of whether you have nil tax to pay or pending taxes, you will be charged a penalty of Rs.5000 along with any penalty payable if any for pending taxes.

(3) Date till when you are allowed to file returns or Pay tax

Legally you are allowed to file your returns before the next assessment year which starts on March 31st 2010, remember to pay up any tax due before July 31st.

If you delay beyond March 31st 2010, irrespective of whether you have nil tax to pay or pending taxes, you will be charged a penalty of Rs.5000 along with any penalty payable if any for pending taxes.

(4) Disadvantage of filing tax return beyond due date July 31st

The individual doing so will not be eligible to file a revised return if he discovers any omission or wrong statement.

Time limit for filing revised return is one year from the end of the assessment year or before completion of assessment.

Remember that having tax deducted at source if you are employed is only half of the process and you need to file your returns to complete the process. This will avoid any hassles with the income tax officials. Prepare to file your returns as early as possible instead of waiting for the due date to arrive. You can use the online filing service from TaxSmile for filing your returns in a short time.

This article is written by Sunil K who writes regularly for popular website like IndiaSummary.com and Bollywood Billi. Contact Sunil K is for writing assignments or web consulting.

January 21, 2018

Small Business Tax Tips – 3 Key Changes For 2008 Income Tax Returns

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Looking for more small business tax tips? For a free copy of the 25-page Special Report “How To Instantly Double Your Deductions”, visit http://www.yousaveontaxes.com . Wayne M. Davies is author of 3 ebooks on tax reduction strategies for small business owners and the self-employed.

January 1, 2018

Time To File For Income Tax Returns

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Learn more about Tax Return and Free Tax Returns from free 1040 tax returns.

December 23, 2017

Where to Find Help With Federal Income Tax Returns

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Filing federal income tax returns is a concern for many individuals. Some are worried about getting their tax return in on time whereas others are concerned about filing it correctly. For the latter group of individuals, there are ways to find help in the area of federal taxes and some possibilities will be listed below.

Visit the IRS Website

One of the best resources to consult in order to gain general help with regard to your federal tax returns is on the IRS website. This site has a wealth of valuable resources on it as it comes directly from the government agency responsible for handling these taxes. On their website you can learn about various filing requirements in addition to being able to print out pertinent tax forms. If you are searching for help with federal income tax returns, a visit to the IRS website is a must.

Accountants

If you would prefer to contact a professional well versed in the field of taxes as opposed to embarking on the federal tax journey yourself then a visit to your accountant is the way to go. By inquiring with your accountant about taxes you will feel good in knowing that you are getting the right answers from a true professional. Accountants can handle a variety of tax matters including helping you with your federal tax returns.

Tax Forms

For those who may have a simple question which pertains to filling out the tax form you can always look directly at the forms to determine if the answers are right there in the fine print. These may not provide as detailed an answer as you wish them to but they will provide some guidance in general tax question areas. Federal tax forms can be printed out from the IRS website or picked up at your local post office.

Other Tax Related Websites

In addition to the IRS websites there are a multitude of other websites which feature federal tax topics and articles. The only downside to consulting these various websites is that the information contained within them will not be as accurate as that which is contained on the government websites. Therefore, if you are looking for concrete reference material your best bet is to go to the IRS website to find it there. However, if you are searching for general tax information relating to federal taxes you can take a perusal on these types of websites to see what is available.

Tax Software

These days many individuals choose to do their taxes on their own via tax software. When taking care of your federal taxes these software programs provide a good way to get the taxes done and have all of your tax related questions answered. In addition, many of these federal income tax software programs will also provide telephone numbers for you to call should you need further help with doing your taxes.

Craig Thornburrow is an acknowledged expert in his field. You can get more free advice on federal income tax and federal income tax deductions at http://www.federalincometaxhelp.org

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