Free Help for Your Income Taxes

April 2, 2010 | Author: | Posted in Saving

The income tax deadline is just a couple of weeks away, so if you haven’t prepared your returns yet it’s time to put it into high gear. Luckily, there are now more ways then ever to get low-cost quick help with your tax returns.

If your household income is below $57,00 – which accounts for about 70% of taxpayers – you can access a free online program to file your taxes. The IRS partners with 20 software companies at IRS.gov/e-file – select a provider and you’ll be able to file electronically. The advantage? If you’re due a refund you’ll get it in as few as 10 days.

If you make less than $50,000 and don’t want to mess around with online software programs, there are great free or low cost assistance programs available. The volunteer tax assistance programs can be reached at 800-TAX-1040.

The AARP also offers tax counseling and you don’t have to be a senior to use it. Call the AARP at 888-227-7669 to arrange in-person or over-the-phone assistance with filling out your tax forms.

Then, of course, there are the tax software packages like TurboTax. While these aren’t free, it can be a much cheaper option than using a CPA. If your taxes are fairly straightforward, you are detail oriented, and you are comfortable with computers and filling in forms this can be a great option.

Finally, you can always turn to tax preparation firms like H&R Block or your local CPA. These outfits will usually charge you a few hundred bucks to prepare your taxes, but it can be money well spent if the other options are too daunting.

The Bottom Line: there’s no excuse not to get your taxes done on time. There are lots of free and low-cost assistance programs available to you to help ease the burden.

photo credit: alancleaver_2000

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