MISSION, KS--(Marketwire - Jan 31, 2013) - (Family Features) Going to college; getting your first job; moving into your own place. To these rites of passage add one more: doing your own taxes. And, it's not as scary as you might think.
It's not scary because there's help available. It's called Free File, and it's offered exclusively from the IRS in partnership with nearly 15 leading tax software companies. About 3 million people use it every year.
Free File lets you choose brand-name software that does the hard work for you -- all for free. And, it offers a fast, safe and free option for everyone. Brand-name tax software is available to those who made $57,000 or less in 2012 -- which is about 70 percent of us. Earned more? Try Free File's online fillable forms, the electronic alternative to IRS paper forms.
Three simple steps to getting started
Step 1: Gather Your Tax Information
Step 2: Choose an Option
Step 3: Prepare and e-file Your Return
Checklist of materials to do your taxes
Keep this list as a checklist of the items you will need to do your taxes. The IRS recommends keeping all tax-related documents for three years, in case of an audit. Tracking income-related documents can help you take full advantage of deductions available to you.
Earned Income Tax Credit (EITC) helps you keep more of what you earned
No tax benefit offers a greater lifeline to working families than EITC. Yet, one out of every five eligible taxpayers fails to claim it, according to the IRS. Because of the economy, even more people may be eligible if they have had changes in their earned income. Here are a few things to keep in mind:
Learn more at www.irs.gov/eitc and use the EITC Assistant, or ask your tax professional. If you are eligible for EITC, you also are eligible for free tax help at VITA sites nationwide or to use Free File at www.irs.gov/freefile.
EITC: Are you eligible?
Did you know?
Volunteer Income Tax Assistance
There are thousands of Volunteer Income Tax Assistance (VITA) sites nationwide that offer free help to those earning around $51,000 or less. To locate the nearest VITA site, search for "VITA" on www.IRS.gov.
Tax Counseling for the Elderly (TCE), which is supported by AARP, offers free tax help to people who are age 60 and older. Locate the nearest AARP Tax-Aide site at AARP.org or call 1-888-227-7669. Some VITA/TCE sites even offer Free File. You can do it yourself on their computers.
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