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How to pay your taxes online

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How to pay your taxes online
  • FreeTaxUSA: A popular free tax service that, similar to the IRS Free Filing tool, allows you to electronically file your federal return for free and directly to the IRS. You can also file state returns for just $15. Although FreeTaxUSA It’s super affordable and includes services for more complicated filings, like homeownership, investing, and small business.
  • Taxes on cash applications: Cash App, the Venmo-like mobile finance tool, has replaced Credit Karma and offers free federal and state filing and free audit defense. You can prepare your taxes through your computer or phone, and even easily take a photo for your W-2 within the app. The reviewers have reported that Taxes on cash applications It doesn’t have as much support as paid services and there’s no expert tax help available if you need it. There are some missing tax forms and topics, and users can’t import 1099 forms, so it’s really only good for W-2 employees.
  • H&R Block: This household name has been a trusted tax services provider for over 70 years and features classic in-person help from a tax expert, along with easy-to-use online tax services. It is more expensive, but H&R Block It does provide more comprehensive and easy-to-use services, including do-it-yourself online packages, Online Assist (including help from a tax expert), tax preparer service, and computer software. WIRED offers H&R Block coupons to save money if you decide to opt for this service.
  • TurboTax: Another extremely popular tax service that serves millions of users, TurboTax has free services for qualified individuals and offers simple Form 1040 returns only. In addition to self-service, there is TurboTax Live Assisted, where you file your return online with help from tax experts if necessary; and TurboTax Full Service, where a tax expert will prepare your taxes and review them with you before you file.

How to File Taxes for an LLC or Small Business

tax filing for small business or LLC It’s a little more complicated, and that’s where turning to one of the tax services mentioned above (with advanced programs and expert help) can save you a lot of headaches. Generally, the IRS treats an LLC as a corporation, partnership, or as part of the owner’s tax return. For income taxes, an LLC with only a member It is treated as separate from its owner and is subject to tax on net self-employment earnings.

If the LLC is a partnership, the normal tax rules for partnerships apply and all partners will need to complete a Form 1065, U.S. Return of Partnership Income. Each owner will need to show their share of income, deductions, credits and more from society. If the LLC is a corporation, corporate tax rules apply and you must file a Form 1120, U.S. Corporate Income Tax Return.

How to file a tax extension

Okay, so you didn’t apply early. We’re chronic procrastinators here, we get it. If you are unable to submit your application on time, you must file an extension before the tax deadline. This will delay your tax filing deadline and protect you from potential penalties for not filing.

If you file an extension before tax day (April 15, 2025), it extends your filing deadline until six months later: October 15, 2025. But remember, an extension of time to file your return doesn’t mean the time to pay your taxes will also be expanded. If you don’t pay your taxes by April 15, regardless of whether you were granted an extension, you could be required to pay penalties and interest on any unpaid balance.

What happens if you miss the deadline?

This may result in penalties and interest, but by filing as soon as possible, you can minimize these penalties. If you can’t pay the full amount, you can set up a payment plan with the IRS to pay in increments throughout the year. If you forgot or simply didn’t file for an extension (and owe taxes), you may face a late filing grief maximum of 5 percent of unpaid tax (4.5 percent for late filing and 0.5 percent for late payment). This penalty is imposed per month and will continue to accumulate each month until it reaches 25 percent of the unpaid tax at the time of filing. the government also charges interest on unpaid amounts, which vary depending on the amount and time owed. You will need to pay your balance in full to avoid underpayment interest accruing daily.

How long does it take to get a tax refund?

The IRS typically issues its refund within 21 days of receiving your e-filed federal return if there are no errors or problems (fingers crossed). If you go old school and file a paper federal return, it will typically take twice as long and could even take up to eight weeks to get a refund. Deadlines for obtaining state refunds vary by state, but electronic filing generally results in faster refunds compared to paper filing. In many cases, if you file your state taxes electronically, you can get your refund in about five business days, and about four weeks if mailed.

Where is my tax refund?

When you file your federal income tax return, you can check the status of your tax refund at the IRS website or in your mobile application, IRS2Go. Remember, each state has its own process (and schedule) for state income taxes. Again, paper returns generally take much longer to process than returns filed electronically. Each state uses slightly different systems to allow people to check the status of their tax refund. Generally, you will need two pieces of information to verify your refund.

To check your stateYou will need your Social Security number (SSN). (If you don’t have an SSN, most states allow you to use a few different types of identification, such as an Individual Taxpayer Identification Number or ITIN.) In almost all states, you will also need to provide the amount of your refund. Sometimes you can round your return to the nearest whole number, but some states require the exact amount. Other states may also require additional information, such as your date of birth, filing status, or zip code.

I suggest you check your refund in the IRS website first. Just remember, this is the government, so your refund information may not be available right away. Your refund status should appear approximately 24 hours after you electronically file a current year return, three to four days after you electronically file a prior year return, or four weeks after you file a paper return. (Remember, you will need your SSN or ITIN, your filing status, and the refund amount to verify the refund status.)

What are the tax brackets for 2024?

Not sure what tax rate you’ll fall into? It all varies depending on whether you are single, married filing jointly, married filing separately, or head of household. The tax rate goes in increments, starting at 10 percent for the lowest earners (earning less than $11,600 as a single person) and rising to 37 percent for single people or heads of household earning more than $609,351.

Here is a quick table showing the projected tax bracket amounts starting in 2024 that will be introduced in 2025.

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