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Sun, Jul 13, 2014

Tax season has arrived

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Tax season has arrived | Goodwill, United Way, National Disability Institute, Taxes, Business, IRS, Finance, Banking, Technology

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Whether you have already received your 2012 tax refund or are procrastinating with the rest of us, now is the time to get everything in order.

If you have waited this long, consider using an electronic form.

According to spokesman Dan Boone, a spokesman for the Internal Revenue Service, more than 80 percent of all taxpayers last year opted for the safest, fastest and easiest way to submit their individual tax returns — through the e-file system.

“E-file is now the norm,” he said. “Since e-filing began, taxpayers have e-filed more than 1 billion individual income tax returns safely and securely. And now, with Free File, everyone can file Form 1040 series tax returns for free.”

The number of people who use a paper tax return or who mail a tax return dwindles each year, and for good reason.

An e-filed tax return is safe and secure and is much less subject to errors than a paper return, he said.

With an e-filed return, the taxpayer receives an acknowledgement that that IRS has received the return. If is rejected, the receipt notice will explain why so the return can be quickly corrected and resubmitted.

Faster refunds equal greater payment options

An e-filed tax return means a fast refund.

Taxpayers who combine e-file and direct deposit usually get their refunds much more quickly than those who file on paper, Boone said.

An e-filed tax return means more payment options as well.

Taxpayers can file early and set an automatic payment withdrawal date for any date on or before the April due date. Some taxpayers may like to pay by paper check. They still can by mailing a check with a voucher. Taxpayers can even pay by credit card.

E-filing offers readily available method

For most taxpaters, using e-file is also easy.

You can e-file through your tax preparer, through commercial tax preparation software or through Free File, where the free use of brand-name tax software is offered for most filers and free filing is possible for all filers.

The number of people preparing their own tax returns on their personal computers is growing tremendously, Boone said. Software – such as that offered through Free File or Turbo Tax – guides people through a step-by-step question-and-answer process.

So, whether you do it yourself or have it done, choose e-filing to make tax time simpler and easier.

If you need a little help and don’t have the cash for a tax preparer, Goodwill Industries of Middle Tennessee is lending a tax-preparing hand. In fact, the organization has set a goal to help at least 300 people through MyFreeTaxes.

Goodwill is offering free tax preparation assistance to the employees, clients and members of the community whose household income is less than $57,000.

There are three ways to file your taxes for free using MyFreeTaxes, explained spokeswoman Jamie Berry.

You can do them on your own. Just go to www.myfreetaxes.com/gwmt.

If you need a little assistance, you can file your own claims with instruction from a trained IRS site worker. This service is available at the Goodwill Career Solutions centers in Shelbyville, Lawrenceburg and Nashville by appointment.

For those who uncomfortable using a computer, an certified volunteer income tax preparer can help you through each step to ensure your taxes are completed correctly.

This service is offered at the Nashville and is free for those whose household income is less than $50,000. All you have to do is call 615-346-1236 to make an appointment.

MyFreeTaxes is funded by the Walmart Foundation. It is a joint partnership that includes Goodwill Industries International, United Way Worldwide and the National Disability Institute.

 

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