- Preparation is the key to tax filing success. The online filing process is simplified because the forms and calculations are automatically provided and created for you. However, you must have your information handy to reap the benefits. Before you begin filing, gather your W-2s, receipts, 1098s, 1099s and any other documentation you have for tax filing. Peruse through the IRS Tax Guide (Publication 17) and familiarize yourself with the new tax deductions and changes so that you know what to expect.
- Online filing options include the Free File and Free File Fillable Forms. These IRS filing options provide filers with inexpensive filing options. As of 2011, the Free File option is free for all filers who earned $58,000 or less during the previous year. This threshold amount is subject to change each year. The Free File Fillable Forms program provides a free filing option for all tax filers, regardless of income or forms used. Unfortunately, the fillable forms must be printed out and sent in the same way as handwritten forms.
- As you go through the online filing process, it is important that you read through the application carefully and provide accurate responses. If you are unsure of a question, seek help through the free file program's help section or customer assistance. The IRS also provides instructions for every tax form available at its website (see References and Resources).
- If you use the Free File program, you will have an opportunity to review all of your information for accuracy prior to completing the filing process. Take this opportunity to verify the information, as this will help to reduce processing delays and errors. Once you have verified the information, your refund or payment due will display. You have the option of having your tax refund deposited directly into your checking or savings account or issued to you by mail. Tax payments can be made by mail or by using the IRS Online Payment System. The online payment option is only available to individuals owing less than $25,000 in penalties, taxes and interest. The Online Payment System was made available for use Jan. 10, 2011 for the 2010 tax filing season.
- The Free File program is an affiliation of various tax preparation companies that have been approved by the IRS. Tax filers that generate more than $58,000 also have the option to use the Free File program. However, filers will incur a fee for the use of the program. The Free File fee is generally based on the type of forms that you are required to file and vary by affiliate. Other options include various tax programs that are available at various prices and are made by private companies.
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