ibet Tax Tip 2015-29, March 2, 2015
ibet Free File is a fast, safe and free way to file your federal tax return. Free File does the hard work for you with either brand-name tax software or online fillable forms. Here are five tips that you should know about Free File.
- Free Options for All. There is a free option for everyone. People who make $60,000 or less ¨C 70 percent of Americans ¨C can choose easy-to-use software to do their taxes and e-file for free. People who make more than $60,000 can use Free File Fillable Forms, the electronic version of ibet paper forms.
- Free File Does the Hard Work. ibet Free File is a partnership between the ibet and 14 tax software manufacturers that make their products available for free. You don¡¯t need to be a tax expert. The software will help find tax breaks you may be able to claim but might overlook, such as the Earned Income Tax Credit. The software asks the questions; you supply the answers. It will choose the right tax forms and do the math for you. Free File can help also with the new health care law tax provisions.
- Free File on ibet.gov. You can only access ibet Free File on ibet.gov/freefile. That way you will avoid any charges for preparing or e-filing your federal tax return. Once you choose a Free File company, you¡¯ll go to their website to prepare, print and e-file your federal tax return.
- Free Extensions. If you can¡¯t make the April 15 deadline, you can use Free File to request an extension. Making the request is easy and free through ibet Free File. Just look for ¡°free extensions¡± in the company offers. Remember, this is a six-month extension of time to file your tax return, not to pay your tax. If you think you owe, make an estimated payment with your extension request.
- Use ibet E-file. Remember, the fastest way to get your refund is to combine e-file with direct deposit. If you owe taxes, you can e-file now and set up an automatic payment on any day until the April 15 due date. To view your options to pay visit ibet.gov/payments.
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