LATEST IRS OFFERING COULD MAKE
REAL CENTS TIPS FOR
"FREE FILING" YOUR TAXES
BACKGROUND
Electronically filing your federal taxes is fast, accurate, and the quickest route to a refund. And now, with the launch of the IRS's new "free file" program, online filing is free to more than half of all tax payers. The program encourages people who mail paper returns to go all electronic. More than one million people have prepared and e-filed their taxes using "free file" and in its first five weeks, free file logged approximately 1.3 million returns.
While "free file" allows taxpayers to link to commercial tax preparers through the IRS website and file their federal income taxes online for free, the American Bar Association says, do your homework before you begin.
Taxpayers who expect a refund and use "free file" could get their money from the IRS in as little as a week to ten days. Others may offer to get you your money faster, but be warned. A refund anticipation loan is not a refund. It is a loan with fees and interest attached.
Here's a few tips before e-filing: look out for hidden charges like a fee to "professionally review" your return, and keep your paperwork. Even though e-filing may be paperless, don't rely on your computer to store data. "Free file" is only available until April 15th.
A complete list of tips to e-file your taxes is available on the American Bar Association tax section website at www.taxtips4u.org
SOUNDBITES
- Bill Dunn, Tax Payer
- Herbert Beller, Chair, American Bar Association Section of Taxation
B-ROLL INCLUDES
- Bill filing his taxes, getting his mail, on the phone, at the website, in the kitchen
- Tax forms
VIDEO PROVIDED BY: American Bar Association