THINGS TO KEEP IN MIND for filing 2014 taxes:
Filed your taxes yet? Don’t wait till the last minute! The deadline for 2014 federal and state tax returns this year is Wednesday, April 15th, 2015.
The IRS Free File program, an incentive to file electronically, enables many taxpayers to file their tax returns for free. It’s open to those with adjusted gross incomes of $57,000 or less. About 15 tax-preparation companies are in the program, each with different eligibility criteria. To find a program, go to irs.gov/freefile.
Ineligible for Free File? Free File Fillable, an electronic version of paper forms, may fit the bill. This program won’t give tax advice, but it rescues you from doing math and provides links to IRS publications. Once you’ve completed the forms, you can e-file your federal tax return for free. (Check www.irs.gov for forms.)
For those with simple returns, TurboTax Free Federal Edition Online (www.turbotax.com) and H&R Block at Home (www.hrblock.com) can prepare and e-file your federal return for free; there is a charge for state returns.
TaxAct’s Free Edition (www.taxact.com) is available to all, regardless of the complexity of the return. Your federal return is free; there is a charge for a state return.
Low-income taxpayers, members of the military, and senior citizens may be able to obtain free tax preparation from a Volunteer Income Tax Assistance site, usu-ally located at libraries, schools, shopping malls, and military bases. Call 800-906-9887 to locate one near you. Volunteers can also help you file electronically.
The AARP Tax Aide program, in association with the IRS, offers tax counseling for low- and middle-income taxpayers age 60 or older. Call 888-227-7669 to find the one nearest you, or go to www.aarp.org/money/taxes/aarp.taxaide.
For regulation purposes, the IRS requires all tax preparers to have a Preparer Identification Number. Ask your preparer if they have one. If not, find another tax preparer.