It’s tax season! And I’m sure you’ve been bombarded with offers for online tools that can simplify the tax paying (and refunding) process. Now, these tax tools might be very useful—and worth the monetary lessening of your wallet.
However, you have already paid for some very helpful tax tools and might not be using them.
I’m talking about the FREE online self-help tools available on the IRS.gov website.
When I say free, keep in mind that you’ve already paid for them—as taxpayers. So, you might as well check them out to see if you can get your money’s worth.
Here’s a description of popular and helpful IRS.gov online tools:
E-File at No Cost with IRS Free File
Free File is an online tool you can use to prepare and file your individual income tax return. You can use your brand-name tax preparation software or opt to use the IRS’s online Fillable Forms.
Check it out here: https://www.irs.gov/uac/free-file-do-your-federal-taxes-for-free
Where’s My Refund? Keep Track of Your Refund’s Status
The IRS provides a useful tool to check on the status of your refund. Very helpful if you’re making plans dependent on when you get your refund.
Check it out here: https://www.irs.gov/refunds
And yes, they have a mobile App: https://www.irs.gov/uac/irs2goapp
Make a Direct Payment with Direct Pay
Of course, the IRS wants to make it easy to get what they’re owed. IRS Direct Pay provides a secure service to pay your taxes or estimated taxes direct from your bank account. The service also provides a tool so you can look up the status of your payment.
Check it out at: https://www.irs.gov/payments/direct-pay
You can also use the mobile app mentioned.
Set Up Monthly Payments with Online Payment Agreement
Not long ago, setting up monthly payments to pay the IRS was a hassle—with long telephone wait times. No more. You can hop online and set up an online payment agreement and immediately get notification if the agreement is approved.
Check it out at: https://www.irs.gov/individuals/online-payment-agreement-application
Make Sure You’re Withholding Enough with the IRS Calculator
Withholding too little or too much can significantly impact your finances. Withhold too little and you might end up owing more than you expected. Withhold too much and that’s money you could have used throughout the year. Use IRS’s Withholding Calculator tool to determine what information you need to provide on your Form W-4 Employee’s Withholding Allowance form.
Check it out at: https://www.irs.gov/individuals/irs-withholding-calculator
Tap into Tax Law Resources with IRS’s Interactive Tax Assistance
Got a question about a tax law? IRS’s Interactive Tax Assistance could provide you the answer on the following topics:
- Affordable Care Act
- General Filing Questions
- Income
- Deductions
- Credits
Check it out at: https://www.irs.gov/uac/interactive-tax-assistant-ita-1
Search Tax Topics with IRS Tax Map
Search tax law information indexed by subject. This search tool brings together web links, tax forms, instructions and publications related to your search term.
Check it out at: https://taxmap.ntis.gov/taxmap/
Is That Charity Donation Eligible for a Deduction? EO Select Check Can Answer that Question.
Donations to charities can be a wonderful gift. If you’re planning on deducting donations on your taxes, be sure to see if it’s eligible with Exempt Organizations Select Check. This online search tool can check on your desired charity’s federal tax status.
Check it out at: https://www.irs.gov/charities-non-profits/exempt-organizations-select-check
So, take advantage of these online tools provided by the IRS. After all, they’re yours and there for your benefit.
By the way, if you’ve got tax or accounting questions related to your business, use your local St. Augustine resource: Business Solutions Unlimited. We’re just a phone call away when you’ve got questions: (904) 429-4588.