Easier IRS Filing With Federal Income Tax Help
Get Free Tax Return Help and Tips From the Internal Revenue Service
Sep 10, 2009
Tax return help is only a click away for consumers and business owners, due to the comprehensive help-guides and free online tax forms available on the IRS website. The IRS offers federal income tax help via email and telephone, as well as providing answers to frequently asked questions, guides to help with filing for tax debt relief, and income tax preparation online.
IRS Tax Help for Consumers and Businesses
The Internal Revenue Service website offers IRS tax help to all taxpayers, including individuals, families, small businesses, and corporations. Information is provided on the Earned Income Credit, new tax rules, and details about the tax code. All tax forms are explained in detail, and a multitude of other information is offered for free, including details about tax debt relief.
Tax Debt Relief is Available at Need
When debt is forgiven, the IRS can count that forgiven debt as income, which requires consumers to pay taxes on the amount of the canceled debt. There are some exclusions, including consumer debt that is discharged through a bankruptcy action, which are not taxable. Student loans that have been forgiven may qualify as income, however, except in certain circumstances.
The Mortgage Debt Relief Act of 2007 allows homeowners that have canceled debt associated with a home to avoid paying taxes on the amount of the loan. The Mortgage Debt Relief Act protects homeowners that have restructured home loans to reduce the amount of debt, as well as homeowners that have lost their homes due to foreclosure.
Income Tax Preparation Online
The IRS encourages income tax preparation online. Individuals can file their federal income tax return through the IRS website's Free File program. Small businesses and self-employed individuals also have many online filing options, as do larger corporations, and even non-profit organizations. Using online tax filing options allows consumers and businesses to speed the process of filing their taxes, as well as reducing potential errors in the paper filing process.
Free File Income Tax Preparation Software
The IRS's Free File program provides many choices when it comes to filing taxes online. Many different companies have chosen to partner with the IRS, and offer the opportunity for individuals to use their income tax preparation software for no cost. There are income restrictions, and the service is only open to individuals, at this time.
The Internal Revenue Service offers many types of federal income tax help to consumers and businesses alike. IRS tax help can be accessed through the IRS website. Tax questions can be answered with information available online, or by contacting the IRS directly via telephone or email.
 |
