Wednesday, April 15, 2009

Tax Day!

You've got until midnight tonight to e-file or postmark your 2008 federal tax return (or to request an extension)! Many students will be eligible to use the online fast and easy Free File program, if your adjusted gross income is $56,000 or less in 2008.

The Free File program provides free federal (but not state) income tax preparation and electronic filing for eligible taxpayers through a partnership between the Internal Revenue Service (IRS) and the Free File Alliance LLC, a group of private sector tax software companies, including such well-known tax software as TaxACT, TaxCut, and TurboTax.

The "Traditional" Free File is tax software with step-by-step help. Go to the link above and click the button to "Help Me Choose a Company" to find out which software packages you are eligible to use. (Note for question 5 on this page: if you can be claimed as a dependent on your parents' or another person's tax return, you won't be eligible for the Earned Income Tax Credit.)

If you don't qualify to use Traditional Free File, you can use Free File Fillable Forms, and fill in the tax forms and file them online without tax software.

All Free File options are available 24 hours a day, 7 days a week, but it's important to remember that you must access Free File through the IRS website, at the Free File link.

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