Printed Income Tax Forms:
Prepare your federal income tax forms using a pencil, just in case you need to erase and make a few changes and do not use incursive writing. Once you are sure that your forms are filled out correctly, you may then do it over on a separate form like the one you just completed using a black ink pen. Instructions are detailed in the instruction pamphlet of how to fill out your particular tax form. This is a step by step guide and will have worksheets that will allow you to do all necessary calculations.
Return your tax forms to the state that is listed for which you live, often located on the last page of your booklet. Be aware that the address also depends on rather you are to include payment or if you are filing late.
Nowadays, the IRS advise us to file online because of the greater reduction risk of errors. The IRS has integrated a Free File website that hosts many tax preparation firms to make sure of tax preparation accuracy. You can easily fill out online worksheets that is automated to do all calculations for you.
Be aware that filing federal taxes online is a free service if you meet the income requirements. The approximation of income should be under $52,000 annually.
For each tax form there are a set of instructions. The instructions will have worksheets and details of how the forms should be completed. It is your responsibility to file both your federal and state taxes each year. Pretty much all federal forms are the same or just slightly different, state forms can vary for each state.
If you are need of an extension, then you will need 4868 to request your extension to avoid penalty.
If your tax situation is kind of complicated, for example if you are a business owner or rental property, it may be in your best interest to seek out the services of a reputable tax professional. While filing your return isn’t all that complex, it is however very vital that it is accurate. Inaccuracies will only delay your refund and may even cause you to become subject to an IRS tax audit.