Doing taxes is a confusing process and if your budget is low, you have to DIY (do it yourself). To do so, you have to install a tax software through the IRS website. Popular tax software includes programs like TurboTax (from $39.99), TaxACT (from $25), and H&R Block (from $39.95). All three programs provide free versions for people with simple tax needs. Even with the softwares, you still required tons of patience and brain cells in order for you to complete. If you have a great budget and you don't want stress or if you earn over $200,000 a year, you can hire a tax preparer to file for you. The only professionals qualified to help you are tax lawyers, CPAs, and enrolled IRS agents. Price varies depending on where you live and how complex your taxes are.
Whether you want to hire someone or do it yourself, you got to do it sooner or later.
Many of us might remember that Tax Day is on April 15th. Oddly, the first Tax Day was on March 1st in 1913, after the passage of the 16th Amendment. In 1918, Congress pushed the date forward to March 15th, where it remained until the tax overhaul of 1954, when the date was again moved ahead to April 15th. But however, this year’s Tax Day is on April 18th. Why? April 15th and 16th is on a weekend, which the tax deadline is always postponed when it falls on a weekend or legal holiday. April 17th, not a monday, but Emancipation Day, the day marked as Abraham Lincoln signing a law to free slavery in Washington, D.C, and this day celebrated legally. Under the tax code, legal holidays in the nation’s capital affect the tax-filing deadline across the nation. So, it’s postponed to Tuesday, April 18th. No more delays! Filed you files in ASAP before you get hit with a failure-to-file penalty, which starts at 5% of however much you owe, and maxing out at 25% of your tax bill. So do it ASAP.
Ben Wu