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If you're down to the wire on filing or paying your taxes by the April 15 deadline, the Internal Revenue Service encourages you to tap these 10 “techy” tools available at www.IRS.gov, among all the information at the website's "1040 Central." Just be sure you're at the IRS's official website. Don't be confused by other web sites that end in anything but .gov. There's only one IRS online and that's www.IRS.gov.
From the IRS.gov homepage, click on the "more online tools" link at the lower left (unless otherwise noted) to reach these handy online helpers.
Start with the IRS podcast on last minute tips. (Enter "Last Minute Reminders" in the search feature.)
Shop the electronic filing options at IRS.gov, including 19 Free File options for 70 percent of taxpayers. E-filing dramatically reduces your chance for errors to less than 1 percent as opposed to 20 percent for rushed paper-filers on deadline day. You also get an email confirmation that your last-minute return was accepted by the IRS. If you're expecting a refund, choose direct deposit and start a countdown: you'll generally see it in the bank within 10 days.
E-file your extension request. Any filer can request an extension at no cost using Free File. You'll get a confirmation that it went through and you can scratch “find a stamp” and “late-night post office run” off your to-do list.
Search for charities. Not sure a 2007 contribution is deductible? You can find out if your donation went to a qualifying organization by using IRS's searchable Publication 78, a cumulative list of organizations eligible to receive tax-deductible contributions.
Use the EITC Assistant to determine if you qualify for the Earned Income Tax Credit. If your 2007 earned income is below $39,783, you may qualify to receive up to $4,716 through the credit, but you need to file a tax return to claim it. Qualifications differ based on income, age, number of qualifying children and filing status, but you can make it easy on yourself by using the EITC Assistant.
Simplify claiming the Sales Tax Deduction. If you're itemizing and deducting the state and local sales tax you paid last year (which you can do instead of deducting state and local income tax), the Sales Tax Deduction Calculator can cut the time it takes to determine the amount you can deduct.
Pay your taxes online. Link from IRS.gov to a service provider that accepts credit card payments for taxes. These providers do charge a convenience fee but make paying your taxes a little easier.
Apply for a payment agreement online. The IRS may allow you to pay the tax you owe in monthly installments. You can apply for an IRS installment agreement using the Online Payment Agreement application. With this tool, taxpayers can self-qualify, apply for and receive immediate notification of approval. There is a fee for entering into an installment agreement; it's lower for low-income taxpayers and those who pay by direct debit.
Wondering about that rebate? Use the IRS's Economic Stimulus Payment Calculator to determine if you qualify to receive a stimulus payment as well as how much you can expect to receive. Have your completed tax return in hand.
Finally, try Tax Trails. If you've got a question but don't want to sift through online publications, see if you find the topic among the dozens in Tax Trails. They’re like interactive flow charts, posing questions that you can answer by selecting "yes" or "no," leading you to the answer. Happy trails! |
