Tax season is a busy one, and it's important to be able to quickly, efficiently, and accurately do your taxes without a hassle. Every year, we get many of the same questions from individuals coming here to complete their tax returns. Check out these frequently asked tax questions to get your answers before digging into your taxes this year.
1. How much does it cost to file my taxes? You can prepare and e-file your federal and state tax returns with OnePriceTaxes for just $29.95. This low price applies to everyone, whether you're itemizing deductions, self-employed, or own investment property. Although many other companies offer a similar base price, they often charge extra for more complicated tax returns. With OnePriceTaxes, our returns cost just one price, regardless of what your situation is.
2. Do you have state tax returns? Yes, we support state returns for all 50 states. You will only need to answer a few additional questions to complete your state tax return after finishing your federal tax return. Then you can file it as part of the single low price of $29.95. If you want to complete only your state tax return, you can do that instead. Completing your state taxes is simple if you're already done with your federal return, and you can file just the state return for $19.95.
3. What documents do I need to complete my tax return? You need all of your year-end financial statements, including your W-2 forms and 1099 forms. Other documents that may be useful for you include interest statements, mortgage information, business records, itemized deduction receipts, and last year's tax return. File documents as you receive them, and you should have everything you need by the end of January.
4. When will I get my tax refund? If you want to get your tax refund quickly, you're not alone. Many people get their refunds within 21 days of e-filing their tax return. If you enter your bank account information on your tax return to get your refund by direct deposit, it will likely come even sooner. Filing earlier in the tax season also helps expedite your refund. You can check the status of your federal refund at Where's My Refund? after you submit your tax return. The amount of time it takes to receive your state refund varies, but you can check with your state's Department of Revenue to learn more.
5. Can I file my taxes for free if I have financial hardships? Yes, OnePriceTaxes prepares and files your federal and state tax returns for free if you are unemployed. To receive this benefit, you must have an AGI of less than $50,000, and you also must have received unemployment compensation during the tax year. When you report the unemployment compensation on your 1099-G form, you will automatically qualify for the free filing.
6. Can I import data from last year's tax return to make filing easier? You can import your prior year tax information if you filed with Turbotax or OnePriceTaxes. This makes entering your information much easier, so you don't have to type in each piece of information. To do this, go to the basic info tab, click the import link, and follow the instructions.
7. How long will it take to complete my tax return? It depends on how organized you are and how complicated your tax situation is. People with very simple tax returns will be able to complete them in 20 minutes or less, where others may require more than an hour. You can save your return at any time and come back later to finish it if you need to.
8. What forms do you support? You can file your taxes on form 1040 or 1040EZ through OnePriceTaxes. We also support Schedule A, Schedule B, Schedule D, Schedule EIC, and Schedule J. You will be able to submit many other forms with your tax return, including the forms for child care expenses, moving expenses, adoption expenses, health savings accounts, the additional child tax credit, education credits, and retirement credits.
9. How do I e-file my tax return? If you were mailing a paper return, you would need to sign it, but when you e-file, you can use alternate methods of authentication. When you e-file through OnePriceTaxes, you will need to have either your AGI from last year's tax return or your PIN from the IRS. These are both easy to obtain from the IRS if you don't have the information on hand right now. Then you can just enter your AGI or your PIN in lieu of signing your return when you e-file.
10. How can I get a tax extension? If you can't complete your taxes by April 15, don't worry. It's easy to get a free tax extension. Just submit Form 4868 to the IRS by April 15. Alternately, you can pay at least $1 of your estimated taxes online at the IRS website. After you file for an extension, you will have until October 15 to complete your tax return and submit it without a late filing penalty.
OnePriceTaxes 10 most commonly asked questions during tax season
Posted on March 4 2014