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Free Income Tax Filing: Online State And Federal Incom Taxes
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Published: August 13, 2007
Free tax filing is a phenomenon that was, and is, too good to be true. In 2006, the IRS sponsored federal tax filing program with 20 private entities and introduced new stipulations that limited free tax filing to taxpayers who made less than $50,000 that fiscal year. Free 2006 tax filing was limited to the middle-class and below, which from a socialist standpoint is a good thing.
Regardless, the free tax filing was limited to federal tax filing, leaving those who received the services still responsible for making accommodations for their state tax filing.
Who in their right mind wants to repeat income tax filing more than once a year? A free federal tax filing without a free state tax filing, is like receiving a saddle for Christmas sans the pony; the payoff is only half rewarding. From an accountant's perspective, free tax filing is a blow to potential revenue, yet at the same time building a customer/provider relationship may influence customers to align themselves with a familiar company for future financial concerns.
Without seeking the assistance of a seasoned CPA, a person can also complete an income tax filing at the IRS website. Through this free tax filing service, users can print the papers necessary for federal tax filing, and access a link to individual state tax filing, via the IRS website. Regardless of the confusing monetary jargon, with perseverance and a printer, income tax filing can be done fee free by visiting the IRS website and printing a 1040ez. In defense of the IRS, over the years the filing process has become far more fluid and stress free with an enhanced user friendly approach and links to state tax filing sites.
For those tax payers who wish to do their federal tax filing and state tax filing in one fell swoop, there are many websites that proclaim to offer free tax filing . The catch is always thus: Free tax filing walks a person through the process of determining exactly how much money they owe or will be reimbursed, until the point of actually processing the papers for a federal tax filing. For a person to file their taxes a fee is required, usually in the neighborhood of $40. Therefore, free tax filing translates to free trial; “Look how much money you could be getting back if you did your federal tax filing with us!” Nothing is ever free, free tax filing included.
Should a person decide to use one of these companies to do an electronic tax filing, it would be who of them to access the links through www.irs.gov. For fear of litigation, the IRS will only sponsor reputable electronic tax filing agencies. This means if a person is to utilize one of the companies suggested by the IRS for a free tax filing, they will have a higher percentage of security in their information being processed properly and legally.
Uncle Sam sure has shown a sign of good faith by offering free tax filing for American citizens who make under $50,000 annually; though this only applies to federal tax filing. For those citizens who fit into this category and live in a state that does not collect income tax, it would be outright silly not to take advantage of such an opportunity. So okay, sometimes free is legitimate; but only with free tax filing. The real question begs, will the already scaled back free 2006 tax filing be the last year to offer such benefits?
Sources:
"Internal Revenue Service." April 2007. Department of Treasury. 2 Aug 2007. http://www.irs.gov/efile/article/0,,id=118986,00.h tml.
"E Smart Tax." January 2007. Liberty Tax Service. 2 Aug 2007. http://www.esmarttax.com/irs_tax_efile.asp.
Block, Sandra. "Free Tax-Filing Shrinks; Savings Still Possible." 23 Jan 2006. USA Today. 2 Aug 2007. http://www.usatoday.com/money/perfi/columnist/bloc k/2006-01-23-free-file_x.htm.
Who in their right mind wants to repeat income tax filing more than once a year? A free federal tax filing without a free state tax filing, is like receiving a saddle for Christmas sans the pony; the payoff is only half rewarding. From an accountant's perspective, free tax filing is a blow to potential revenue, yet at the same time building a customer/provider relationship may influence customers to align themselves with a familiar company for future financial concerns.
Without seeking the assistance of a seasoned CPA, a person can also complete an income tax filing at the IRS website. Through this free tax filing service, users can print the papers necessary for federal tax filing, and access a link to individual state tax filing, via the IRS website. Regardless of the confusing monetary jargon, with perseverance and a printer, income tax filing can be done fee free by visiting the IRS website and printing a 1040ez. In defense of the IRS, over the years the filing process has become far more fluid and stress free with an enhanced user friendly approach and links to state tax filing sites.
For those tax payers who wish to do their federal tax filing and state tax filing in one fell swoop, there are many websites that proclaim to offer free tax filing . The catch is always thus: Free tax filing walks a person through the process of determining exactly how much money they owe or will be reimbursed, until the point of actually processing the papers for a federal tax filing. For a person to file their taxes a fee is required, usually in the neighborhood of $40. Therefore, free tax filing translates to free trial; “Look how much money you could be getting back if you did your federal tax filing with us!” Nothing is ever free, free tax filing included.
Should a person decide to use one of these companies to do an electronic tax filing, it would be who of them to access the links through www.irs.gov. For fear of litigation, the IRS will only sponsor reputable electronic tax filing agencies. This means if a person is to utilize one of the companies suggested by the IRS for a free tax filing, they will have a higher percentage of security in their information being processed properly and legally.
Uncle Sam sure has shown a sign of good faith by offering free tax filing for American citizens who make under $50,000 annually; though this only applies to federal tax filing. For those citizens who fit into this category and live in a state that does not collect income tax, it would be outright silly not to take advantage of such an opportunity. So okay, sometimes free is legitimate; but only with free tax filing. The real question begs, will the already scaled back free 2006 tax filing be the last year to offer such benefits?
Sources:
"Internal Revenue Service." April 2007. Department of Treasury. 2 Aug 2007. http://www.irs.gov/efile/article/0,,id=118986,00.h tml.
"E Smart Tax." January 2007. Liberty Tax Service. 2 Aug 2007. http://www.esmarttax.com/irs_tax_efile.asp.
Block, Sandra. "Free Tax-Filing Shrinks; Savings Still Possible." 23 Jan 2006. USA Today. 2 Aug 2007. http://www.usatoday.com/money/perfi/columnist/bloc k/2006-01-23-free-file_x.htm.
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