Tax season is officially here, with the Internal Revenue Service now accepting electronically filed returns.
This is a good year for procrastinators. April 15 — the traditional due date for returns — falls on a Sunday and the following Monday is Emancipation Day, a holiday celebrated in Washington. This pushes the deadline to April 17.
But this is also a leap year, so Feb. 29 gives us one more day to ponder our taxes.
Many filers could use the extra time. The IRS estimates the total number of hours it will take this year to file the popular 1040 — from record keeping and planning to submitting the form — is 22.
The IRS has also launched Free File on its website at IRS.gov. Free File is a partnership between the agency and about 20 tax software companies to provide online filing at no cost. To use Free File, you can’t make more than $57,000 a year.
For do-it-yourselfers of all income levels, the IRS offers Free File Fillable Forms. This is the electronic format of traditional paper forms that can be filed for free online, too.
If you’re filing electronically on your own, make sure you print out the return and review it before hitting the send button, said Jackie Perlman, a principal tax analyst with the Tax Institute at H&R Block.
A software program will catch math errors or prompt you if you forget to sign the return, she said. But it can’t tell whether you made the mistake of transposing numbers you enter yourself.
Of course, whether you file a paper or electronic return, taxes can be confusing. If you need help filling out a return, there’s free assistance.
The IRS provides free tax preparation of simple returns for filers earning up to $50,000. Go to IRS.gov to find the time and locations.
The Volunteer Income Tax Assistance Program has IRS-trained volunteers who will do your taxes for free if you make less than $50,000 a year. Find information about times and locations of the VITA and the Tax-Aide programs at 800-492-0618.
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