Filing taxes is an annual chore facing all Americans, and let's face it, the tax code is complicated. Bankrate explains the rules in easy-to-understand language to help simplify your life. Here you'll find everything you need to know to file your tax return and pay the IRS. Expecting a refund? You'll find information about that, too.
Before you can get started with the serious business of filing your taxes, it helps to learn some basics. So we supply list of tax terms and stories on everything from common tax-filing mistakes to overlooked tax breaks. Intimidated? Don't be. We'll help you overcome your tax anxieties, even if you are a first-time tax filer.
Do you have to file a tax return? What filing status should you choose? Which 1040 form should you use? How do you report your investment earnings? What if you have a side business? Find answers to those questions and more here. And if you make a mistake, we have a solution for that, too.
If you're entitled to a refund, you want to get it as soon as possible. Bankrate shows you how to track your refund, how to deposit it into as many as 3 different accounts, and ways to wisely spend your tax cash.
If you owe the IRS, there are several ways to pay the bill. Learn about how to pay online, or if you owe a lot, how to pay in installments. If you find yourself in deep financial trouble, you might be able to successfully negotiate a smaller bill with Uncle Sam. Learn about all your options here.
The Internal Revenue Service would like everyone to file taxes online. It's more efficient and less time-consuming for taxpayers and Uncle Sam. You can purchase software for your computer or e-file directly online. The IRS also enables those with household incomes of $62,000 or less to use the Free File service. And its fillable forms are available to everyone, regardless of income. Learn all about it here.
To file your taxes, you need access to all your income statements as well as your W-2 forms. What happens if you don't get them? We'll give you a way to work around this problem. And how long must you hang on to your tax-filing paperwork? Read all about it here.