For the sixth year in a row, I filed my taxes on-line today. I signed up with a special offer from where I work to get my W2 form early, on-line (arrived today), and immediately filed my taxes. I use an on-line site* that costs me $9.95 and yes, I have a complicated tax form using my mortgage payments and multiple other deductions. Cheaper and easier than buying the software (that you can only use once) or going to H&R Block and their ilk and standing in line to have them charge you far more to do what you can easily do yourself on-line.
I pay for it using my credit card, use electronic filing as well, with direct deposit into my checking account.
I know lots of people freak out when I tell them this - all kinds of hysterical claims that my information will be leaked around the world and warnings that people in Bolivia will be buying iPhones using my credit info. Has never happened in all the years so far, and generally I get my refund in about 6 or 7 business days. BTW, I also prepare my SO’s taxes the same way as well, and he too has never had a problem.
It is easy to fill out and you can see what you are going to get for a return before you are required to pay. And yes, you can go back in and edit if necessary. If you go to the IRS website, you will find some places offer this service for free if you earn under a certain amount, or are in the military or for various other reasons.
If you have never tried doing your taxes on-line, give it a try. At least for me it has been a relatively quick and painless process, with no problems, fast refund and a nice print out to keep for your records!
I have not named the site I use, as I don’t want anyone thinking this is some coy spam or something to convince you to use the site I use. If the Mods don’t mind, I will tell what site I use if asked, but there are some good sites out there to choose from, with names that should be familiar.
I was ready to dismiss the site you use until you mentioned that you use a complicated tax form. We also have a complicated situation that requires the more complicated forms, and an innocence spouse petition; do you know if the site you use offers that as well? I’m not one to shy away from online services, especially if they are well done. Having just moved to MA, we don’t have an accountant here yet anyway.
Interesting that you had all the information required to file your taxes already, especially if you have a complicated return. Financial companies including mortgage companies & banks have until the end of the month to get their forms out to their clients. Investment companies have until the middle of next month to get their forms out to their clients. I am impressed that you had everything you needed by the 13th of January.
I’ve been filing my 1040 and associated forms online for a few years now as well. Greatest thing since sliced bread, except for the fact that the service I use has been sending me emails for a month reminding me that tax season is fast approaching and to come back and file with them again.
Rule number 1: It’s your money. You shouldn’t pay to get it back. That’s ransom/extortion.
If the IRS truly prefers online filing, then it should be free for everyone (well, I’d accept it for the cost of a stamp, since you do have to buy one to mail your taxes).
My own version of the IRS has allowed online filing for a few years for companies and the self-employed; for the rest of the world, they prepare your files and send them to you, and if it looks OK to you you just sign and send it back.
I don’t have as complicated a return as DMark (1040 EZ since I’ve had to file one), but I too was impressed with how quickly my W2 popped up online this year. Taxes filed (for free, of course), and just waiting on that direct deposit.
Yeah, I was kind of surprised I had everything too!
Got my papers from the mortgage company in the mail on Friday, got a notice that my W2 was ready to be downloaded on Monday and had everything else. Most certainly the earliest I have had it all together for filing.
I did see they said they would submit my efile on January 16th, which I think is the first day the IRS accepts them.
Well, I use a private company so their software is designed to help you find all the little loopholes so you get more money back. I don’t mind paying $9.95 to use that software on-line. They have little pop up windows explaining what each deduction is, and how much you can legally deduct before raising eyebrows at the IRS.
I am sure any software from the IRS would not exactly tap me on the shoulder and say, “Hey, you can deduct more there, and did you remember to deduct this, and don’t forget to include that…” etc. etc.
The **filing **is free. For people whose taxes are simple enough that they can use the 1040EZ form, there are a lot of online services that will let you **prepare **it for free, with the hopes of making it up when you think “Hey, this is nice!” and decide to pay them to prepare your state taxes.
You’re paying someone to guide you through the task of preparing your tax return. Well worth it, in my mind. The online service steps you through everything and generates the right forms, freeing you from having to run down to the library for a Schedule B6 and a Form 540-A. Oh no! They didn’t get Schedule B6 yet! But you can download it for free. Oh, you don’t have canary yellow legal-size paper to print it on? Sorry… (Yes, I know everything’s “letter” size now, but it wouldnt surprise me if they required yellow paper.)
As for the speed of receiving documents, I got one mortgage interest statement last Thursday, and my W2 was available on Friday.
I use an online service as well for our taxes every year. We always have our return less than a week after we file. I don’t look at it as paying someone to file my taxes for me; I see it as using a tax program that I don’t have to load on my computer every year. I like going back to the same company every year as well, because they save my info for me so there’s a lot of stuff I don’t have to retype or hunt down.