You can maximize interest, avoid amending return if you wait
It's often possible to file your tax return as early as February, once you've received your W2 from your employer and your 1099s from your investments.
The IRS will even accept your return as soon as January.
But this is one situation where the early bird doesn't always get the worm.
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Just an FYI for some people. You can go to www.irs.gov and select software there to do your taxes for free if you dont make over a certain amount. H&R block and turbo tax are on the list of free ones depending on your situation. You can also go to the maryland taxes site after you have done your federal taxes and do your Maryland state taxes for FREE. E-filing included. I found the Maryland site VERY easy. It just asks you a few questions and you are done.
ReplyDeleteFor Maryland taxes, I recommend filing electronically if you are expecting a refund even though you must pay a fee. Last year, I had a long wait for my refund because I filed a paper return. Maryland advised me that, in order to reduce costs, they did not hire as many people to process tax returns. If you file electronically, you won't need to wait for people that aren't there.
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ReplyDeleteYou do NOT have to pay to file your taxes if you use the Maryland site.
I did my taxes using one of the software programs on irs.gov and skipped doing the state on there and paying for them. If you go directly to the state of Maryland site you can do them AND efile for free no matter what your income.
Many of the software programs will allow you to do your federal for free then charge you to do the state return. NO NEED do it for free on the Maryland site. I got my refund direct deposited in 3 working days!
www.irs.gov and
ReplyDeletehttp://individuals.marylandtaxes.com/filinginfo/efile.asp
Two years ago the state sent me a second check due a change in Turbo Tax. Very cool.
ReplyDeletehttp://individuals.marylandtaxes.com/filinginfo/efile.asp
ReplyDeleteis the link dont know why some of it didn't post correctly.
You can also go downtown to the Comptrollers office and they will prepare your MD return free of charger. I go to them every year and let them do my non-resident forms for me. I live in DE but work in MD so I'm one of those who gets slapped with the extra charges on my tax bill!
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