April 15, 2006

Last Minute Tax Tips

The photo at the left shows a group of folk filling out their 1920 income tax returns at the Internal Revenue Office. Things have changed since then: you can download tax preparation software at sites like Turbotax.com, and you can file electronically. If your adjusted gross income is less than $50,000, then you are eligible for free electronic tax preparation and electronic filing. There's an explanation of how this works at irs.gov.

And, while those taxes aren't due till Monday, for those waiting till the last minute: did you know that you could charge that tax bill on Visa, MasterCard, Discover, or American Express at a reduced interest rate? Pay1040.com has all the answers.

Find out if you are eligible for the Earned Income Tax Credit. Maybe you owe the Alternative Minimum Tax: find out at irs.gov.

What if you can't pay the balance? Don't panic. SmartMoney tells you what to do.

No comments: