If you’re one of those taxpayers who usually files the second that you have your form W-2 in hand, take heart. Today is finally the day that you can rush down to your tax preparer or fire up the computer to do it yourself.
The Internal Revenue Service has already delayed the filing season by a little over a week: the season was supposed to kick off on January 22, 2013, but due to the fiscal cliff deal, it was pushed out to January 30, 2013. That means, as of today, the IRS will begin accepting e-filed returns and processing the old fashioned paper ones. This is also good news for many taxpayers who only had to file state returns: I’ve heard a number of complaints about those being kicked back because the “federal tax authority has rejected your return” – nonsensical, I know, but there you have it.
If you’re hoping for a refund – and let’s face it, most early filers are – the fastest way to get your refund in hand is to e-file and use direct deposit. According to IRS, last year, nearly 100 million taxpayers opted to e-file; that’s nearly 70% of all taxpayers of those who filed individual returns. Since 1990, taxpayers have e-filed nearly 1 billion individual income tax returns (those are McDonald’s kind of numbers).
You can e-file using tax software (your chance to win some free software is coming up on the site later today) or your tax professional. If your income is $57,000 or less, you may qualify for free e-filing through IRS.gov. It’s called Free File and you can find out more about the program by visiting the IRS web site.
Other options for free filing abound. Check back later today for a more comprehensive list.
