Electronic Federal Income Tax Brackets & Tools

Electronic Tax Preparation 2018

Electronic Income Tax FilingEvery year, millions of Americans face the task of taxes with both anxiety and dread. The filing process doesn't have to be that onerous.

Electronic tax return filing can make a huge difference in how you get your taxes done each spring. It's time to explore some options in income tax software and change your yearly tax experience.

Best Tax Preparation Choices For 2018 - 2019

It probably seems like an overwhelming task to figure out which tax software edition will be the best for you, but it's not as difficult as you may think. Answering a few basic questions will narrow down the choices and make it easier to pick the electronic tax preparation software that fits your specific situation.

Electronic Tax Filing

TurboTax Electronic Tax Preparation

HR Block Electronic Tax Preparation

Choosing The Best Online Electronic Tax Preparation Program For Your Needs

Free Editions: First off, are you a renter? Do you have few, if any, deductible expenses? If this is you, then you will be able to use one of the Free electronic tax return filing programs. That means you'll be able to complete your federal electronic tax filing for free and pay a small fee to file your state income tax return.

Basic Editions: Are you a homeowner? Do you have children? Do you have deductible expenses? You will be able to use a Basic program. Many of these will still have free filing for the federal forms.

Deluxe Editions: Do you have sales gains or losses from stocks and bonds or mutual funds? Do you investments or retirement income? A Deluxe tax software program will work for your situation. These programs offer step-by-step guidance and some offer live chat with a professional.

Premium / Premier Editions: Are you self-employed? Do you have rental income? A Premier software program will meet your tax needs. These programs will offer assistance with all the details of business ownership. With the answers from these questions, you should be able to choose the software you'll need to streamline your tax preparation.

Why Free Tax Preparation Options May Be A Good Choice For You

You may be able to qualify for free tax preparation service through the Free File Alliance. However, these free file services generally cover basic 1040 tax returns – if you have a small business or for some other reason that requires you to file a more complicated tax return, you may need to use a higher end paid edition of tax software from participating companies including TurboTax, H&R Block, TaxACT, and more.

Free FileFree File is a great choice but you must meet their adjusted gross income restriction limit or less to use this service.

Additionally, some companies may only offer services to those in specific age ranges, or those who live in specific states. The Free File Wizard can help you determine if you qualify.

You should also be ware that 22 states and Washington, D.C. also participate in Free File for state tax return preparation and filing.

Free File Fill-able PDF Forms

Higher income level filers that don't qualify for the free file Alliance can fill out their own federal tax forms using Free File Fillable Forms. If you have simple tax filing needs and some confidence – you can use these forms without any income, age, or location restrictions whatsoever.

The Fillable Forms are provided by the IRS and are executable PDF copies of the main tax forms that you can complete on your computer. However, no assistance is provided that tells you how to complete them – you’ll need to know yourself which forms you need and how to fill them out.

Fortunately, most forms are numbered from one line to another to indicate where you need to perform additions and subtractions to fill in each space.

Once you have completed your forms, you can e-file your federal tax return with the Internal Revenue Service for free, and set your refund up for direct deposit into your bank account, it's just that easy!