Thursday, January 29, 2009

File your Federal Income Taxes Online for FREE!

April 15th is coming right up. The end of January is here, which means most of you have gotten copies of your W2s and any other important tax forms in the mail. Well, in a roundabout way, filing taxes is definitely related to making money online. In fact, if you have made any amount of money online this past year, you'll need to include that income when filing your taxes. The process of filing taxes can be extremely stressful and can get quite expensive as well. There's no need to stress out, at least about the filing part. I found a great service that's absolutely free to figure, print and e-file your federal return. has no restrictions on filing for free, and they don't give you a bare bones system either. You get access to 1040EZ, 1040 and 1040a forms, plus you can enter deductions, information for life events, and get access to walk-throughs and free tax information and guidance. The whole process is pretty easy, since each screen has explanations and questions to help guide you in the direction you need to go to correctly and efficiently file your taxes online.

You can file your state income tax return simultaneously, but they do charge a fee for this filing. Since the federal return is free to figure and file online, I usually just pay the $13.95 and get it all over and done with at once. However, if you really wanted to, you could just file your federal return and get a form at the post office to file your state income tax return for free.

With TaxACT you should receive your refund in as little as 8 days. I recall from last year that it came more quickly than I expected. I had a little extra form that was supposed to take an additional amount of time, but I still got my return about 2 weeks prior to their estimated date.

I've used TaxACT to file my federal tax return online for free for two years now. I'm an extremely satisfied customer and would recommend their service, even if you have a little bit of a complicated return. From what I could see, most of what you need is included, and if you decide along the way that you really need to go more in depth, there are opportunities to upgrade your service, and that fee is quite inexpensive as well.

Don't be afraid of April 15th. Go to and file your federal income taxes for free. Good luck and have fun!