As responsible citizens, most of us will need to file a tax return this year. Your Online Credit Coach encourages you to take advantage of the many low or no cost options for preparing and filing your federal and state returns. For those due a refund, tax season provides a unique opportunity for asset-building especially for low to moderate income taxpayers. Finding a preparation and filing option with reasonable cost and then avoiding high cost Refund Anticipation loans will help maximize your ability to meet financial goals such as starting an emergency fund, acquiring reliable transportation, pursuing educational opportunities, investing for retirement or purchasing a home.
Prepare your return yourself. You may be able to prepare and e-file your federal tax return on the http://www.irs.gov/ website using FreeFile. You can efile your NC return, but you will need software or a tax professional who will efile for you. Purchasing software or using online tax prep software is usually still an inexpensive option. These programs generally incorporate an interview format that asks easy to understand questions about your finances and then completes the appropriate tax forms for you. We recommend TaxBrain.com as a reliable online software provider. Click Here for more info.
You may also be able to get your taxes prepared by a volunteer professional at a local VITA or LITC site for low or no cost. Search either of these terms on http://www.irs.com/ for a list of current year sites in your area.
The New Legacy Project,Inc, a non-profit organization, also offers low cost, flat fee tax preparation options for our clients starting at $25 for basic non-itemized returns. Click here for a list of services offered. Season starts January 15th, 2010
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