Free Tax Return Filing
As part of our efforts to provide valuable resources to our customers, we regularly share information that we have researched that can be of use to landlords and property managers. This week we are featuring information that may be of value to your tenants (and therefore may be beneficial to you as well). This information may be worth sharing with your tenants. The burden of filing your tax returns is quite high. In addition, many people use companies like Jackson-Hewitt, H&R Block etc., to file tax returns despite the fact that they charge a lot of money and take a hefty fee for immediate refund payments. Lastly, many people don’t file their tax returns because they just don’t have time, resources or just don’t want to do it.
The problem with this is that when you want to take advantage of other free resources (like rental assistance) you need to have a tax return as part of the required submission documents.
For those of you who have not filed your tax returns, make this year the year you get your tax return done (and done for free). This program is available starting on January 31, 2021. What you may not know is that the US Government (IRS) offers tax return filing for FREE called the “IRS FREE FILE”. Find out more here: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free#what
What is the IRS Free File Program?
The IRS Free File Program is a public-private partnership between the IRS and many tax preparation and filing software industry leaders who provide their brand-name products for free. It provides two ways for taxpayers to prepare and file their federal income tax online for free:
Traditional IRS Free File provides free online tax preparation and filing options on IRS partner sites. Our partners are online tax preparation companies that develop and deliver this service at no cost to qualifying taxpayers. Please note, only taxpayers whose adjusted gross income is $72,000 or less qualify for any IRS Free File partner offers.
Free File Fillable Forms are electronic federal tax forms you can fill out and file online for free.
How Free File Offers Work
Choose an IRS Free File option from a partner company, prepare and file your federal tax return on their site, and get an email when the IRS accepts your return.
What You Need to Get Started:
Personal Information You Need
A copy of last year's tax return in order to access your adjusted gross income
Valid Social Security numbers for yourself, your spouse, and any dependent, if applicable
Income and Receipts
Social Security benefits
Unemployment Compensation
All receipts pertaining to your small business, if applicable
Other income
W-2 (if you are employed) showing your annual wages from all of your employers
Prior-Year Returns
Please note you can only file your current year tax return using IRS Free File. You cannot process a prior year return using IRS Free File.
Related Tools and Information
To view your balance owed, payment history or other information from your tax account, create or view your account.
Get up-to-date information on your refund.
Always remember to print your return after you successfully file online. If you forget to print your return, you can order a free transcript. Depending on the type of transcript you request, you'll get more or less of the information from your return.
You can use Direct Pay to pay your individual tax bill or estimated tax payment from your checking or savings account for free.
Get a replacement Social Security benefit statement Form SSA-1099 online.
Other Resources:
Prior Year Tax Return
If you didn’t file a tax return last year (2019), print and complete this return and file it immediately so you can utilize the FREE TAX FILING
https://www.irs.gov/pub/irs-pdf/f1040x.pdfchecking or savings account for free.
Please note you can only file your current year tax return using IRS Free File. You cannot process a prior year return using IRS Free File.
Prior year returns can only be filed electronically by registered tax preparers for the two previous tax years.
The IRS does not allow electronic filing for prior year returns through self-preparation websites. You must print, sign, and mail prior year returns.
The Directory of Federal Tax Return Preparers with Credentials and Select Qualifications can help you find preparers in your area who currently hold professional credentials recognized by the IRS, or who hold an Annual Filing Season Program Record of Completion.
Free File Fillable Forms opens January 2021.
This program operates every year from mid to late January until mid-October, then closes until the following January. During the closed period:
Every account is erased from the server
It is not possible to access your return or return information
It is not possible to print your return
We cannot assist you in recovering any of your tax return information
Information and links that may assist you when the program is closed:
If you weren't able to e-file your return but printed a copy, mail it in
Get a transcript of your accepted federal return data with Get Transcript
If you do not have a copy to mail, you'll need to prepare another return
For other filing options, view the Online Individuals page
Get up-to-date refund information with Where's My Refund
Pay your balance or make estimated tax payments with Direct Pay
Link to the FREE FILE program: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free#what
Sincerely,
Adam K, Certified Lead Inspector
Lead Testing Services, LLC
