Income tax time usually makes me smile, because I usually get a nice portion of money back, even if I am self-employed. That money is usually used to pay off any unexpected bills, purchase any large ticket items for the family that we need, or sometimes to splurge a little and get everyone one thing that they’ve been wanting.
You can get every cent back with no preparation fee, if you qualify.
The Internal Revenue Service (IRS) has entered into an agreement with over a dozen different tax software companies like Turbo Tax and H&R Block to offer free tax preparation via the Internet and electronic filing to eligible taxpayers.
There isn’t any fine print that you are missing, but there is a threshold that you have to meet or fall under.
It is easier for the IRS if we all e-file, because it saves the government a huge amount of money each year. And we all know, they tend to be as frugal as they can in most areas, except when it comes to purchasing toilets as we learned several years back.
But that isn’t all that’s out there. If you don’t want to purchase any software, there’s an even better way to file your taxes this year.
If you $54,000 or less in 2007, you can use the Free File on the IRS website. You have to wait until mid-January 2008 for it to be available, but then it’s free sailing from there.
The best part of using the IRS’ Free File, is that you get your refund super fast, usually within ten days if you use Direct Deposit.
One of the other things I love about using the Free File, is that they have automatic checks during the filing process to be sure everything is accurate. I have never had a problem using this.
So when you are getting ready to prepare your taxes, and if you know how to do it yourself, it would be in your best bet to use this frugal method and save the cost of preparation and filing. Hey, put that money right into savings.
Nicole Humphrey writes articles for the Scrapbooking Blog and for the Frugal Blog. She also guest blogs on a variety of topics. You can read more of her articles by clicking here.
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