Research indicates that many individuals make errors when preparing taxes no matter what age you happen to be.
Here are a few tips to help avoid errors with a standard deduction for seniors.
Taxable amount of social security: be careful when you calculate your taxable income, use your social security benefit work sheet on your 1040 or 1040 A form and then double check it. Seniors can get a higher standard deduction if you and your spouse are age 65 or older ,more deductions if either are blind if you don't itemize your deductions. Credit for the elderly and disabled credit may be taken based on your age, filing status,income, and permanently disabled and must use a 1040 or 1040 A form,not the 1040 EZ form.
Seniors may qualify to file their tax return on line using the IRS free e-file.
E-filing is a fast, secure,accurate way to file your income taxes and a fast way to get your refund in just a few days by using electronically banking system which will be deposit into your checking or savings account.
Many errors are made handing all the paper forms that need to be filled out and a lot of information put on the wrong line on the form so using e-filing can eliminate mistakes since it is more accurate and no paper returns are mailed to IRS, just sent electronically and then you will receive a receipt within 48 hours for confirmation that your return has been received.
All your will need to e-file is your prep work, print , and e-file your return with the eliminations of all paper returns which is a plus for the environment. E-filing a great way to file taxes online. E-filing is the way the government hopes we all choose, which is plus for them and definitely one for the tax payer. There are many free services using the IRS but you can choose to pay a fee to a professional who up on all of the tax laws and give you advice for a fee.
