Wednesday, March 17, 2010

What the IRS can do for you

For many, the IRS is not considered to be the friendliest of government agencies. However, the IRS does provide many helpful resources, calculators, and programs to help ease the burden and remedy some of the confusion associated with the filing of a tax return. The links below represent a small sampling of the information available on the www.irs.gov site:

For those of you who have an Adjusted Gross Income of $57,000 or less in 2009 and are looking for a little tax assistance in the preparation of a basic individual tax return the IRS provides a free federal income tax preparation and electronic filing program, developed through a partnership between the IRS and the Free File Alliance LLC, a group of private sector tax software companies. The program can be found below:

http://www.irs.gov/efile/article/0,,id=118986,00.html

In order to promote retirement savings, the IRS also provides a mechanism to use your tax refund money to buy US Series Savings Bonds. For those of us who are more likely to save money we never had available to spend it may be a good option:

http://www.irs.gov/individuals/article/0,,id=217762,00.html

Below is the hub for the individual tax payer, the site provides a multitude of links to items such as current year tax updates, refund tracking, and calculators to determine eligibility for a number of 2009 credits/deductions:

http://www.irs.gov/individuals/article/0,,id=118506,00.html

Below is the small business equivalent of the link above, the site included important information regarding required filings, acceptable expenses, as well as potential credits/deductions that may be available for the small business owner or self-employed:

http://www.irs.gov/businesses/small/article/0,,id=134947,00.html

It may not combat the public perception entirely, but it is a great resource to utilize during tax season.

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