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Best Online Federal Tax Filing Software

Once you have finished estimating your tax return refund and have that ballpark figure on what you owe in additional taxes or what your refund will be, it's time to look at how your going to tackle the tax preparation process.

With the numerous benefits that come with preparing your own online federal tax filing, choosing top rated tax software will be one of the most important steps for relatively easy online tax preparation.

Choosing a quality tax software brand is the sure way to avoid a confusing and poorly formatted tax preparation process that will do little more than increase your anxiety.

Consumer reports have shown time and time again that there are two tax software brands that have been leading the online federal tax return filing drive, along with state tax preparation. TurboTax the #1 selling software brand along with H&R Block the #2 selling software brand both continue to increase ease of use for their products. Something consumers truly appreciate.

Federal online tax filing software brands generally include the following tax return preparation editions to meet tax filer needs.

  • Free Editions

    • Federal Free Editions offer simple 1040ez tax form filing support to help you prepare your 1040A type tax return. They come with basic tax return support.

  • Basic Editions

    • Federal Basic Editions a a little more advanced with extended support and import abilities for easy w2 and 1099 data integration. Includes support for home owner credits and deductions.

  • Deluxe Editions

    • Federal Deluxe Editions add the power of maximizing your deductions by searching through over 350 tax breaks available to tax filers depending on the life changes and standard of living.

  • Premium / Premier Editions

    • Federal Premier and Premium Editions work well for investors, property managers and self employed income tax filers, There are some variables between the Deluxe and Premium editions in different brands.

  • Home and Business Editions

    • Federal Home and Business Editions are the right choice for tax filers that are looking for an all-in-one packaged solutions for preparing and filing their personal and business income tax returns with one software purchase.

An income tax estimation will show you what your tax liability is through a relatively accurate calculation process. And it will help you understand how much time you will need when it's time to prepare and file your federal and state tax returns. From there, if you choose good quality tax filing software, the preparation process will be a breeze... Try one of these top tax software choices today!

Am I required to File a Federal Income Tax Return?

The Internal Revenue Service provides tax filing requirement information to Reduce Taxpayer Burden and Processing Costs.

You may be able to reduce or change your paycheck withholding so that it will be unnecessary for you to prepare and file an tax return based on IRS regulations.

Adjusting your withholding to avoid filing Unnecessary Returns will save both you and the government time and money. However, if you find that you do not have to file a return based on your income, you may still need to file one to get any refund you may be due from federal income tax that has been withheld. To determine if you need to file a Federal Income Tax Return review the following points to see if they apply to you.

  • Occasionally, individuals have one-time or infrequent financial transactions that may require them to file a Federal Income Tax Return. Do any of the following examples apply to you?

    • Did you have Federal taxes withheld from your wages or pension that  would make you eligible for a refund?

    • Are you entitled to the Earned Income Tax Credit or did you receive Advance Earned Income Credit?

    • Were you self-employed with earnings of more than $600.00?

    • Did you sell your personal residence?

  • You may owe taxes on qualified retirement plans (individual retirement account (IRA), medical savings account (MSA)?

    • Did you received an early distribution from a qualified plan

    • Did you make excess contributions to your IRA or MSA

    • Were you born before July 1, 1940, and didn't take the minimum distribution from your qualified retirement plan.

    • Did you receive a distribution in the excess of $160,000 from a qualified retirement plan.

  • Do you owe social security and Medicare tax on tips you did not report to your employer?

  • Do you owe uncollected social security and Medicare or Railroad retirement (RRTA) tax on employer reported tips?

  • Are you subject to the Alternative Minimum Tax (AMT)? Laws allows special deductions and credit for some expenses.

  • Will you owe recapture tax?

  • Are you a church employee with wages of $108.28 or more from a church or qualified church-controlled organization that is exempt from employer social security or Medicare taxes?

If one or more of the preceding situations apply to you, you will most likely need to complete your federal tax preparation to submit an income tax return as required by the Internal Revenue Service (IRA).

Free Online Federal Tax Estimator


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