- FreeTaxUSA: A popular free tax service, similar to the IRS Free Filing tool, lets you e-file your federal return directly to the IRS for free. You can also file a state return for just $15. Although FreeTaxUSA It's extremely affordable, including services for more complex filings, such as home ownership, investments, and small businesses.
- cash app tax: Cash App, a mobile finance tool similar to Venmo, has acquired Credit Karma and offers free federal and state filing and free audit protection. You can do your taxes through your computer or phone, and even easily take a photo for your W-2 from within the app. Reviewers have reported that cash app tax It doesn't have as much support as paid services, and there's also no expert tax help available if you need it. It's missing some forms and tax topics, and users can't import 1099s, so it's really only good for W-2 employees.
- H&R Block: This familiar name has been a trusted tax service provider for over 70 years, and offers easy-to-use online tax services as well as classic personal assistance from a tax expert. It's expensive, but H&R Block It offers more user-friendly and holistic services, including do-it-yourself online packages, online assistance (which includes tax expert assistance), tax preparer service, and computer software. wired offer H&R Block Coupons To save money if you decide to adopt this service.
- TurboTax: Another extremely popular tax service serving millions of users, TurboTax There are free services for eligible people that only offer simple Form 1040 returns. In addition to self-service, TurboTax is also Live Assisted, where you can file online with the help of a tax expert when needed; and TurboTax Full Service, where a tax expert will go over your taxes and review them with you before filing.
How to File Taxes for an LLC or Small Business
filing taxes for small business or llc This one's a little trickier, and this is where one of the above tax services – with advanced programs and expert assistance – can save you a lot of headaches. Generally, the IRS treats an LLC as part of a corporation, partnership or owner's tax return. For income tax, only one LLC a member is considered separate from its owner, and is subject to tax on net earnings from self-employment.
If the LLC is a partnership, normal partnership tax rules apply, and all partners must file Form 1065, U.S. Return of Partnership Income. Each owner must show his or her share of partnership income, deductions, credits, and more. If the LLC is a corporation, corporate tax rules apply, and it must file Form 1120, US Corporation Income Tax Return.
How to file a tax extension
Okay, so you didn't file early. We're going to be procrastinating here for a long time, we understand. If you can't file on time, you should do so file an extension By the tax deadline. This will push back your tax filing deadlines and save you from potential penalties for not filing.
If you file an extension by Tax Day (April 15, 2025), it moves your filing deadline to six months later: October 15, 2025. But remember, extension of time for filing your returns does not mean extension of time for your payment. Taxes will also be increased. If you fail to pay your taxes by April 15 — even if you're granted an extension — you may be asked to pay a penalty as well as interest on any unpaid balance.
What happens if you miss the deadline?
This may result in penalties and interest, but if you file as soon as possible, you can reduce these penalties. If you can't pay the full amount, you can set up a payment plan with the IRS to make payments in increments throughout the year. If you forgot or simply didn't file for an extension (and owe taxes), you may face late filing. Fine Maximum 5 percent of unpaid tax (4.5 percent for late filing and 0.5 percent for late payment). This penalty is imposed per month And it will continue to accumulate every month until it reaches 25 percent of the tax unpaid at the time of filing. Government also charges Interest On unpaid amounts, which vary depending on the amount and time you are outstanding. To prevent underpayment interest from accruing daily, you must pay your balance in full.
How long does it take to get a tax refund?
The IRS typically issues your refund If there are no errors or problems (fingers crossed) within 21 days of receiving your e-filed federal return. If you go the old-fashioned way and file a paper federal return, it usually takes twice as long, and it can take up to eight weeks to receive a refund. Timelines for receiving state refunds vary from state to state, but electronic filing usually results in a faster refund than paper filing. In many cases, you can receive a refund in five business days if you file state taxes electronically, and about four weeks if mailed.
Where's my tax refund?
When you file your federal income tax return, you can check the status of your tax refund IRS website or on its mobile app, IRS2GoRemember, each state has its own process (and timeline) for state income taxes. Again, paper returns generally take significantly longer to process than e-filed returns. Each state uses slightly different systems to let people check their tax return status. Generally, you will need two pieces of information to check your refund.
to check your SituationYou will need your Social Security Number (SSN). (If you don't have an SSN, most states allow you to use a slightly different type of ID, such as an Individual Taxpayer Identification Number, or ITIN.) In almost every state, you must also provide the amount of your refund. Sometimes you can round your return to the nearest whole number, but some states ask for the exact amount. Other states may also require additional information such as your date of birth, filing status or ZIP code.
I suggest you check your refund IRS website First. Just remember, this is the government, so your refund information may not be immediately available. Your refund status should appear approximately 24 hours after e-filing the current year's return, three or four days after e-filing the prior year's return, or four weeks after filing a paper return. (Remember, you will need your SSN or ITIN, filing status, and refund amount to check refund status.)
What are the tax brackets for 2024?
Not sure what tax rate you fall under? It all depends on whether you are single, married and filing jointly, married but filing separately, or head of household. The tax rate increases, starting at 10 percent for low-income people (making less than $11,600 as an individual), and 37 percent for singles or heads of household earning more than $609,351. Increases to.
here is one quick chart Showing estimated tax bracket amounts to be filed in 2024 to 2025.