Filing 2009, 2010 Personal Income Tax Return
Do you have questions about filing your personal income taxes? The following information will help you answer some of those questions.
Where Do I Start?
When filing your personal taxes there are a few things to consider. I’m sure your first priority is to maximize your refund or reduce your tax liability to the IRS. The first thing you must consider is whether you will take the standard deduction or itemize your deductions.
There are online tax calculators available that will help determine which is best for you. All you have to do is just answer a few questions with basic information and then it does the work for you.
What Can I Deduct On My Tax Return?
The standard deduction is an amount already set by the IRS and is determined by your filing status. The following amounts are the set standard deduction for the 2009 tax year per filing status.
The following are some of the most common deductions taken if itemizing your deductions:
How do I file my return?
There are several of ways to file your return. The easiest and fastest way is to e-file your return. E-filing electronically submits your return to the IRS. Other options include mailing your return to the IRS which can take up to 6 weeks to receive your refund.
Can I check the status of my return?
If you e-file your return you will be given an estimated date as to when you can expect your refund. You can also go to the IRS website and enter some basic information from your return and track your refund.
For more information on filing your personal income tax return visit TurboTax Online. TurboTax Online will let you know when your return has been accepted and when to expect your refund.