Taxhead.com Opens 2008 - 2009 Tax Season: Free Tax Software, eFile free for EIC Filers
Online tax company opens for 2008 taxes. Free tax software and tax form printing. IRS eFile free for Earned Income Credit (EIC) filers. Customer rate it fastest, easiest tax site. 100% solar powered.
Taxhead.com opens for 2008 income taxes. Tax form 1040A, 1040EZ for 2008 income taxes (filed in 2009) can now be prepared and filed with IRS efile. The 2008 income tax software makes filing taxes easy and fast. Now in its sixth year, Taxhead.com offers free tax software for tax form 1040A and 1040EZ filers. After preparing taxes, official IRS Tax forms can also be printed for free. If the tax filer qualifies for the Earned Income Tax Credit (EIC) IRS eFile is also free. For others, Taxhead's IRS eFile service is offered at one of the lowest prices in the industry. Taxhead.com is recognized by consumers and industry analysis to be the fast, easy online tax software program for 1040A and 1040EZ tax form filers. Their tax software is designed to cover most personal income taxes situations. Taxhead.com specializes in persons who use the tax form 1040A or 1040EZ. The free tax software supports the following situations: * Taxable income below $100,000. * Interest & dividends (1099-INT, 1099-DIV) to report. * Tax credits for child tax, education, earned income, child and dependent care expenses. * Adoption and retirement savings contributions. * Deductions for IRA contributions, student loan interest, higher education tuition and fees. * No itemized tax deductions Fast and Easy Taxes: Last year most people (86 percent) using Taxhead.com completed their tax return in under 30 minutes. About 43 percent completed their tax return in under 20 minutes. Fast Tax Refund: By using IRS eFile people can have their tax refund deposited directly into their bank account. This is the fastest way to get your tax refund from the IRS. Tax refunds arrive in as few as eight (8) days without additional cost and without any costly tax refund loan. An executive from Taxhead.com said, "We don't ask a lot of tax questions that do not apply to most people. Other tax software takes people through pages and pages of questions that have nothing to do with that person's tax situation. Our approach is more user-friendly. We cover the most common, most popular tax forms and situations, and cater to those persons and their taxes. The result is fast, easy tax preparation experience. And, our tax software is
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completely free to use. We only charge if a person wants to eFile their tax return, rather than print and mail a tax return to the IRS. And, we offer free eFile for any person who qualifies for the Earned Income Credit (EIC). Many people choose eFile for the same reason they choose Taxhead.com tax software -- fast, easy, secure and paperless. And Taxhead.com offers a 100% eFile success guarantee." Last year more people than ever used Taxhead.com to prepare their tax return online free of charge. And record numbers of people used Taxhead.com's IRS eFile service to electronically file tax returns with the IRS. In preparation for the new tax season, Taxhead.com tax software has been made even easier to use. And the new tax laws, tables and tax codes have been added to cover changes made by the IRS for 2008 individual income tax returns. Thousands of Customer Reviews are posted on the company's website. Typical customer experiences include: "Taxhead is so easy to use. My tax refund always gets to me quickly. This web site is a lot better than turbo tax." ... "It was the easiest and fastest tax form I have ever completed. Thank you very much for providing this. I truly appreciate the simpleness and the easy instructions to follow."..."Thank you for designing a quick, easy and efficient website for conducting tax filing online. It really made things simple and even enjoyable! (Imagine that) Keep up the good work! " Taxhead.com's new tax software takes advantage of new tax laws allowing homeowners to deduct property taxes and mortgage interest. The Housing Assistance Tax Act of 2008 allows homeowners to claim an additional standard deduction for property tax if the taxpayer does not itemize. The additional amount is limited to $500 or $1,000 for joint filers. Homeowners who don't have enough itemized deductions to exceed their "standard deduction" are better off using their standard deduction as that will result in the lowest federal income tax. Tax form 1040A, as supported by Taxhead.com offers this option. Taxhead tax software helps determine if a person qualifies for the Earned Income Tax Credit. The Earned Income Tax Credit (EITC) sometimes called the Earned Income Credit (EIC), is a refundable federal income tax credit for low-income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit. Social Responsible, Solar Powered and 100% American owned and Operated: Taxhead.com believes paperless tax filing (e-file) is a product which helps make our world more sustainable: By using e-File you are helping to save resources now and for future generations - less paper, less time, less energy; it's a more efficient, friendly way to prepare and file your tax return. Taxhead offices and web servers are run on grid-connected renewable energy through a solar-electric (PV) system installed at their offices. The solar energy system supplies enough energy to power 100% of the Company's tax offices and services. The company also develops and administer innovative Internet tools to help consumers adopt renewable energy. See www.Solar-Estimate.org. Taxhead.com is one of only a few company's awarded the IRS eFile Partner status. Taxhead.com is an Authorized IRS software developer, e-file tax return provider, and IRS e-
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File Partner. They meet or surpass IRS security policies and recommendations New for 1040A, EZ tax form 2008 tax returns, filed in 2009 Economic stimulus payment: Any economic stimulus payment you received is not taxable for federal income tax purposes but reduces your recovery rebate credit. Recovery rebate credit. This credit is figured like last year’s economic stimulus payment, except that the amounts are based on tax year 2008 instead of tax year 2007. The maximum credit is $600 ($1,200 if married filing jointly) plus $300 for each qualifying child. Alternative minimum tax (AMT) exemption amount increased. The AMT exemption amount is increased to $46,200 ($69,950 if married filing jointly or a qualifying widow(er); $34,975 if married filing separately). IRA deduction expanded. You and your spouse, if filing jointly, each may be able to deduct up to $5,000 ($6,000 if age 50 or older at the end of the year). You may be able to take an IRA deduction if you were covered by a retirement plan and your 2008 modified adjusted gross income (AGI) is less than $63,000 ($105,000 if married filing jointly or qualifying widow(er)). If your spouse was covered by a retirement plan, but you were not, you may be able to take an IRA deduction if your 2008 modified AGI is less than $169,000. Standard deduction increased by real estate taxes and net disaster losses. Your standard deduction is increased by: * Certain state or local real estate taxes you paid, and * A net disaster loss attributable to a federally declared disaster. Earned income credit (EIC): You may be able to take the EIC if: * A child lived with you and you earned less than $38,646 ($41,646 if married filing jointly), or * A child did not live with you and you earned less than $12,880 ($15,880 if married filing jointly). The maximum AGI you can have and still get the credit also has increased. You may be able to take the credit if your AGI is less than the amount in the above list that applies to you. The maximum investment income you can have and still get the credit has increased to $2,950. Tax rate on qualified dividends and net capital gain reduced. The 5% tax rate on qualified dividends and net capital gain is reduced to zero. Homeowners: property taxes and mortgage interest. Homeowners who don't have enough itemized deductions to exceed their "standard deduction" are better off using their standard deduction as that will result in the lowest federal income tax. The Housing Assistance Tax Act of 2008 allows homeowners to claim an additional standard deduction for property tax if the taxpayer does not itemize. The additional amount is limited to $500 or $1,000 for joint filers. Amount of the Additional Standard Deduction for Property Taxes: The amount is claimed as an additional amount on top of their standard deduction. The additional amount that can be claimed is the lower of the following two figures: * the amount of real estate property taxes paid during the year to state and local governments; or * $500 ($1,000 for married taxpayers filing a joint tax return).
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When to Claim the Additional Standard Deduction for Property Taxes: This additional standard deduction applies to tax year 2008 only. This deduction is not available for any other tax year. Standard Deduction Amounts for 2008: Single: $5,450 Head of Household: $8,000 Married Filing Joint: $10,900 Married Filing Separately: $5,450 Qualifying Widow/Widower: $10,900 Dependent: $900-$5,450* Additional Amount if Blind: $1,050 Additional Amount if age 65 or older: $1,050 http://www.taxhead.com
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