As we are all aware, death and taxes are two certainties in life, and while we can't escape either, we can certainly ease the burden of the latter with a wealth of online resources on hand. Want easy, factual information about your tax filing situation? Look no further than the official United States Internal Revenue Service website, which, surprisingly, is a breeze to navigate whether you're a tax expert or a novice.
Key to using this website is understanding its structure. The homepage menu found at the top clearly outlines each information category. Simply click on each heading for specific information pertaining to refunds, payments, deductions, credits, forms, and publications. If you're unable to locate what you're searching for, the "Search" option in the top right corner should assist.
Of worthy note is the distinct link for direct online payments for individual taxpayers. By enrolling, you also get access to the Electronic Federal Tax Payment System. A very useful feature is the "Get Transcript" tool, which displays your total balance and confirms whether your payment has been processed.
The right side of the page provides a wealth of information, including answers to questions like, "What if I Don't Pay?" A quick review of the Taxpayer Bill of Rights is advantageous to understand your lawful rights.
Keep an eye on the conveniently located "Where's My Refund" link, available to check on the status of your refund 24 hours post e-file return submission or four weeks after sending in your paper return.
Included on the site are the essential forms and printable publications for hard copy reading. Counted amongst these are the most popular ones like the Form 1040. Confused on which form is suitable for you? The Interactive Tax Assistant (ITA) will guide you, and there's also "Which Form – 1040, 1040-A, or 1040-EZ?" publication that provides clear distinction.
In addition, the IRS Tax Withholding Estimator can guide you on your employer withholding status. This tool could help lower your tax due by allowing you to raise your employer's withholding. After utilizing this tool, you'll have to complete a new Form W-4, or Employee's Withholding Certificate, for your employer.
Don't let the wealth of information on IRS.gov overwhelm you; take time to understand the offerings. The site includes numerous resources for various groups such as active military, veterans, charities, nonprofits, businesses, parents, international taxpayers, seniors, students, and the self-employed. It even provides tailored assistance to victims of identity theft or tax scams, participants in the Affordable Care Act, and first-time homebuyers.
If there's a tricky tax question, ITA has a wealth of tax information ranging from "How Do I File a Deceased Person's Tax Return?" to "Is My Residential Rental Income Taxable and/or Are My Expenses Deductible?"
Gamblers too will find a dedicated section with information on tax liabilities for gambling wins and possible deduction for gambling losses. Just remember to keep a written record of your earnings and losses in case you end up getting audited.
Undeniably, the dread of tax season is universal, but the convenience and wealth of information on the IRS.gov website undeniably ease the process. Its extensive content might require patient exploration, but jotting down the information you need will greatly assist your tax journey. The ITA, too, is a supportive tool ready to guide you through complex or obscure questions.