TurboTax 2009, 2010

Wednesday is Deadline for Taxes and Economic Stimulus Payments

What with all the turmoil going on in the financial world, it's easy to forget that Oct. 15 is the deadline to file a federal income tax return, which is needed to receive an economic stimulus payment or tax refund.

"Don't lose out on your stimulus payment because you missed the deadline," said Jesse Weller, spokesman for the Oakland office of the Internal Revenue Service.

Legally, the IRS cannot send out economic stimulus payments after Dec. 31.

TurboTax Online is one of the most popular methods of filing taxes without an accountant.

Got a Question? TurboTax Is Here to Help

TurboTax Help & Support Options

When you do your taxes with TurboTax, you never have to go it alone. We’re with you every step of the way to provide the help and guidance you need, when you need it. We offer a variety of tax help and support options — via the phone, live chat, email or over the Web — so you can choose the one that best fits your needs.

• Onscreen Help — In addition to step-by-step guidance, TurboTax provides plain-English answers to commonly asked tax questions on every screen and helpful examples when you need them. TurboTax Online Support
  

• Live Community — Have a question that isn’t covered by the onscreen help? You can ask questions and get live answers from tax experts and others in the TurboTax community with a single mouse click. (Included FREE with TurboTax Basic, Deluxe, Premier and Home & Business)
  

• Full-Service Technical Support — Have a TurboTax product question? You can get fast answers via email, phone or live chat from support specialists who know TurboTax inside and out. (Included FREE with TurboTax Basic, Deluxe, Premier and Home & Business)
  

• Audit Support Center — In the unlikely event you’re contacted by the IRS, we provide downloadable step-by-step guidance so you'll know exactly where you stand and how to prepare your response. We even include a printable sample letter for reference. (Included FREE with TurboTax Deluxe, Premier and Home & Business)
  

• Live Tax Advice — You can also get one-on-one, live support from highly qualified tax professionals skilled at answering questions specifically related to federal tax law.Our tax advisors are professional tax preparers and IRS-enrolled agents with extensive knowledge of tax law and return preparation. Live Tax Advice is a good option if you want to privately speak to someone one-on-one about your federal tax situation. (Additional fees apply)
  
  
• Personal Pro — Have a complex return orneed even more help? Choose TurboTax Personal Pro and have a professional tax preparer answer your tax questions and complete and eFile your tax return for you.

We know doing your taxes can be a little scary. That’s why you can count on us to be there to answer your questions and give you all the help you need. And with four different versions to choose from — Basic, Deluxe, Premier and Home & Business — there’s a TurboTax tax software product that’s just for your tax situation. Choose the TurboTax version that’s right for you and get started now!

 

 

What to Do After You've Filed an Income Tax Extension

Now that you've bought six extra months by filing an income tax extension, you might be wondering what you need to do between now and October 15, 2008, when your tax return is due. We've addressed some of the most common questions below.

How do I know the IRS received and approved my extension?

If you eFiled your extension using TurboTax Extension Express, you should have received a confirmation e-mail from the IRS within 48 hours of filing the extension.

If you mailed your extension, the IRS will not send a confirmation. Any extensions postmarked by midnight local time on April 15, 2008, will be accepted by the IRS.

Keep in mind that if you owe taxes this year, you were required to send the estimated taxes due to the IRS along with your extension request. If you didn't, do your taxes and send your payment right away to help minimize penalties and interest. Extensions only increase the amount of time you have to file the paperwork.

What do I do if I filed an extension but didn't send taxes due?

If you expect to owe taxes, you should complete your return and send your payment to the IRS as soon as possible to minimize the penalties and interest you'll owe.

To estimate your taxes, use TurboTax Online.

If you're not ready to file, you should at least send an estimated tax payment to the IRS. Then, the penalties and interest you owe will be assessed only on the amount (if any) you underpaid. If you overpay, the IRS will return the difference to you.

Can I still use TurboTax to file my 2007 taxes?

Yes, you can use TurboTax to file your taxes through October 15, 2008.

Can I eFile my tax return to the IRS after April 15?

Yes. Use TurboTax to complete your tax return and eFile at any time through October 15, 2008. If you use TurboTax Online, eFiling is included for free.

Filing Late IRS Federal Income Tax Return Form, File 2007 Taxes Late

If you fail to meet the April tax deadline it is very important to file your return as quickly as possible after this date. You must get your taxes filed even if you cannot afford the amount due at the current time.

The following is a list of examples and possible consequences when filing your tax return late or not at all:

I filed my tax return after the April deadline

In this situation you must file your taxes as soon as possible and then you may be subject to penalties and interest because you are late. If you are owed a tax refund it could delay this process but will not have any penalties. If you wait too long you may lose your refund entirely.

I didn't file a tax return at all

If you have failed to file a tax return at all you will receive a letter directly from the IRS. This letter will inform you that you need to file your return. It will instruct you on what forms to file. The IRS may even come up with their own assessment of your taxes.

I need to file an extension

Extensions are certainly acceptable as long as you follow the correct process to file an extension with the IRS. Many people are unaware that you must file an extension before you are late. Which means it must be filed before the April deadline.

I need to file a return for the previous year

You may file a tax return for the previous year but we suggest using online software to simplify this process. You may consider using turbo tax to help you with this.

If you have missed the tax deadline or think you will need an extension please visit TurboTax Online to file now or find more information.

TurboTax online offers a free tax calculator to save you time and money when completing your tax return.

TurboTax Tax Return Calculator for 2009, 2010

TurboTax Tax Calculators

Use these free tax calculators from TurboTax to get a preview of your 2009, 2010 income taxes.

Whether you want to know how much your tax refund will be, how much you'll pay in taxes, which deductions you can take or how much your home mortgage will save you in taxes, TurboTax has you covered.

Tax Refund Estimator - How much will your tax refund be this year?

Changes in your life—like a salary or job change, new house or car, or additions to your family—might affect your refund. This tax calculator helps you determine how much you are likely to pay in taxes for 2009—or how big your refund will be. The latest changes to the Alternative Minimum Tax (AMT) are factored in for increased accuracy.

Tax Rebate Calculator - Will you get a Irs Federal stimulus tax rebate check from the U.S. government this spring?

The government will not automatically send you a stimulus check if you qualify. You must claim this rebate on your 2009 tax return. This could be a huge potential credit for many tax payers that have been laid off or hit hard by the current economic situation.

Average Tax Rate Calculator - What's my average tax rate amount?

Want to know the average tax rate you'll pay on your income? Plug in your income figures and this handy tax calculator will show what percentage of your income will go to taxes.

Home Loan Tax Saver - How much will my mortgage save me in taxes?

If you paid interest or points on a home loan, chances are you can deduct those payments from your income taxes. This tax calculator can help you find out how much your mortgage will save you on your taxes.

Paycheck Tax Withholding Calculator - How much will I take home after tax withholdings?

Are you withholding enough—or too much—from your paychecks? This valuable tool looks at your entire tax situation, including your other income and expenses, and figures out what you'll actually owe on your taxes for the year. The calculator then determines how much you should have withheld to cover what you'll owe for the year, without giving Uncle Sam a big loan.

Deduction Finder - Am I claiming all the deductions I deserve?

Are you missing out on deductions you deserve to claim? Use this tax calculator to help identify over 350 tax credits and deductions available and which ones you are eligible for.

Free Tax Calculators at TurboTax