April 15, the 2009 tax deadline, is near. Remember, not all tax services are the same and that some things have changed, according to a UGA financial expert.
“Shopping around for a tax service makes a difference. You will save in terms of the fees you pay and the amount of taxes you end up owing or have due to you in a refund,” said Michael Rupured, consumer economics specialist with UGA Cooperative Extension.
The Volunteer Income Tax Assistance program certified by the Internal Revenue Service provides free preparation and, in most cases, electronically files returns. The program targets working families with incomes of less than $45,000 a year. For more information, call 1-(800) 829-1040.
The AARP Tax Counseling for the Elderly program often provides senior citizens free tax services. It will prepare returns for VITA-eligible filers, too.
“You can use the Internet to prepare and file your return,” Rupured said. “Online options are generally very user-friendly, though often somewhat tedious and time consuming.”
Other options range from professional accountants to commercial tax preparation chains, he said. But the fees charged vary depending on qualifications, complexity of the return, the number of forms required and other services provided.
Some companies offer tax refunds on the spot. But, Rupured said these refund-anticipation loans are an expensive way to get refunds. With electronic filing, the IRS will deposit refunds in seven to 10 days.
For more information, go to the IRS Web site at www.irs.gov.