Almost 60 percent of you said that you used Turbotax's tax prep software to file your taxes, so I know the most recent announcement regarding the product will come as good news. Intuit, the company that owns Turbotax, has changed their policy and will no longer charge separate fees for filing individual federal tax returns.
This does not mean that the tax prep software is free, just the e-filing part of the equation.
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No, there aren't plans in motion for everyone to receive another check next year. But if you weren't eligible to receive a check this year and become eligible next year, you can claim the economic stimulus payment next year on your 2008 tax return.
How do you know if you're eligible?
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TeamSugar member frevirg pointed out one aspect of the rebate check schedule that I hadn't yet highlighted. While I paid for my tax service as soon as my tax return was filed and used my bank account, some tax services allow filers the option of having those fees taken directly from their tax refund. Frevirg was proactive and navigated around the TurboTax website, and found the following information that may be useful to some of you.
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Judging from the lines at the post office the last couple of days, and stories about friends not being able to attend previous engagements because they had to file taxes, I'd say there's more than a handful of taxpayers who waited until the 11th hour to file their tax return. I wasn't last minute with my return, but I also wasn't an early bird who filed her taxes in January. What about you?
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While taxes are so yesterday, it's inevitable that they'll be back in season this time next year. Here are three things to downsize the dread for next year's taxes.
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There's a line out the door across the street from Sugar HQ — no, it's not a pack of people waiting to see the Sugar girls, it's procrastinators at the post office who are waiting to send their tax returns by certified mail! Are you one of those people? Don't freak out, but do make sure your return is postmarked with today's date.
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Dear Savvy,
Yesterday I got a notice that I owe the IRS for a 2-year-old tax error. The amount is more than I have and I have only one option of paying it and that is to make payments. I called the IRS and they said that I could make payments for up to 60 months at 6 percent interest and there is a $105 dollar fee.
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April means different things to different people — Spring, the end of March Madness, Aries and Taurus birthdays, and most importantly, taxes! During the past couple months, I've been giving you little reminders here and there about completing your taxes and getting the most out of your refund. If you're one of many Americans who considers April's arrival the biggest reminder to do your taxes and are just now dusting off your W-2, I've rounded up all of my tax tips in one place for easy reference.
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I'm sure there are people out there that don't mind mulling over tax returns, after all, it's how some people earn a living. But if you're not one of those that can even look at a W-2 without a slight feeling of dread, you need to be sure that you're in the proper mind-set when you're finally posted up with your lap-top, W-2 in hand. If you're someone who's short on patience and lacking like for your tax return, you especially need to set yourself up for success when choosing a time to file your taxes.
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I've been on your case about getting your taxes off your to-do list so you can get your rebate check, and so you don't have to think about taxes until next year. Twelve months of bliss! If you've finished your tax return then you may have an edge taking this quiz since you've already dealt with deductions.
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