Tuesday, January 20, 2009
Tax forms are starting to arrive in mailboxes and the IRS has a few reminders, as you get ready to start work on your 1040. IRS Spokesperson David Stewart says the first thing to do is grab a folder and start putting all of the W-2’s, 1099’s and tax statements into the folder so you will be ready when its time to get down to work. He says the next stop should be the IRS.GOV web page. He says every from you will ever need is there along with instructions, tips and a long list of tools. Among those tools are links to free electronic filing software for people making less than 56 thousand dollars a year. He says 70-percent of Pennsylvania filers qualify for that free service. The software takes you through the tax forms in a question or answer format. Stewart says everyone qualifies for a new service on IRS.GOV called “fillable forms.” He says the on-line forms are exactly the same as the printed forms but they do the math for you and can be filed electronically for free. One of the biggest changes to this years tax form is a deduction for first time homebuyers.