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What Are The Steps To Filing A Federal Tax Return
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What Are the Steps to Filing A Federal Tax Return

Tax season is coming up, and it's time to file. The best way to file is online, you can file your federal tax for free on the internet and you can file for an extension, only online. When you file an extension Oct. 15 is the last day to get a refund. Don't file an extension you last day will be the April 15.

I'm going to show you what are the steps to filing a federal tax return

you will need a w-2 from your employment. The form comes with a history of payment for the year. Internet is important for filing your taxes online, IF you are expecting a refund you will need

  • bank account
  • debit card
  • mailing address

Pick one of many tax services online that's free to file federal taxes with e-file. Once you find a e-file tax service. Register for the site it will only take a few minutes. After you sign up, fill out the information about your name and address.

After you fill out the name and address part, you will need your w-2 . The next section you will be doing is the employment section, You will enter you w-2 info.

w-2 info

  • name
  • address
  • company you work for name
  • the company address
  • employee identification number (EIN)
  • your wages for the year
  • with holding for the year

Some tax sites have the same w2 form format that you have, all you would have to do is transfer the info from your w2, to the w2 on the computer screen it's that simple.

The next part will be the credits that you can receive, here is a list of some of the credits that might apply to you.

tax deductions

  • rental - you can get money back on the rent you pay.
  • first-time home buyer.
  • donations - if you make a donation to an organization make sure to get a receipt.
  • energy-saving - If you buy installation for your house, or any kind of winter strips for the window.
  • dependents - Get extra money for children under 18 that's in your house hold.

Once you filled out the w2 forms and tax deductions, now you ready to choose a method to receive your money.

methods to receive you money

  • debit card - you can receive tax refunds on some debit cards and pre-paid cards, some tax services website have debit cards they mail to you with your refund on it.
  • bank account - to have money sent to your bank account, all you would need is your account number and routing number.
  • saving bonds - some tax services have options to give you saving bonds if you like.
  • check - If you prefer the old slow way you can have a check mailed to you, which takes two weeks longer thin direct deposit.

Once you pick your option to get your refund, it's time to fill out your e-file. This will allow your taxes to filed electronically, it will take up to 48 hours to find out if you are getting a refund or not. If you are getting a refund back, you money will be direct deposit with in 6 days.

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