How to pay taxes online

• American freedom tax: A popular free tax service, similar to the IRS Free Filing Tool, that allows you to electronically file your federal return directly to the IRS for free. You can also file a state return for only $15. While FreeTaxUSA is super affordable, it also offers more complex filing services, such as home ownership, investments, and small business.
• cash applied tax: Cash App, a mobile financial tool similar to Venmo, has taken over from Credit Karma, offering free federal and state filings and free audit defense. You can file your taxes from your computer or phone, and you can even take a photo of your W-2 easily in the app. Reviewers report that Cash App Taxes doesn't have as much support as the paid services, and there's no expert tax help if you need it. It's missing some forms and tax topics, and users can't import 1099s, so it's really only suitable for W-2 employees.
• H&R Block: For over 70 years, this familiar name has been a reliable tax services provider with classic on-site assistance from tax experts, as well as easy-to-use online tax services. While it's more expensive, H&R Block does offer more user-friendly and comprehensive services, including a self-service online package, online assistance (including help from a tax expert), the services of a tax preparer, and computer software. If you decide to use the service, WIRED offers H&R Block coupons to save money.
• turbo tax: Another extremely popular tax service that serves millions of users, TurboTax offers free service to qualified individuals for simple Form 1040 returns only. In addition to self-service, there's TurboTax Live Assisted, where you can file online with the help of a tax expert when needed; and TurboTax Full Service, where a tax expert will file your return and review it with you before filing.

How to file taxes for an LLC or small business

Filing taxes for a small business or LLC can be a little tricky, which is why using one of the tax services above (with advanced programs and expert help) can save you a lot of trouble. Generally, the IRS treats an LLC as a corporation, partnership, or part of the owner's tax return. For income tax purposes, an LLC with only one member is considered separate from its owners and is subject to tax on net income from self-employment.

If the LLC is a partnership, normal partnership tax rules apply, and all partners are required to complete Form 1065 (U.S. Partnership Income Return). Each owner is required to show their share of partnership income, deductions, credits, etc. If the LLC is a corporation, corporate tax rules apply and Form 1120 (U.S. Corporate Income Tax Return) should be filed.

How to apply for tax deferral

Okay, so you didn't commit early. We're chronic procrastinators here, and we get it. If you are unable to file on time, you should file an extension before the tax deadline. This will delay your tax filing deadline and protect you from possible failure to file penalties.

If you file an extension before tax day (April 15, 2025), your filing deadline will be extended to six months later: October 15, 2025. But remember, just because the time to file your tax return is longer doesn’t mean you have more time to pay your taxes. If you fail to pay your taxes by April 15 (whether or not you get an extension), you may be required to pay a penalty plus interest on any unpaid balance.

What happens if you miss a deadline?

This may result in penalties and interest, but you can minimize these penalties if you file as soon as possible. If you can't pay in full, you can set up a payment plan with the IRS to make payments over a year. If you forget or simply fail to apply for an extension (and owe taxes), you may face a late filing penalty of up to 5% of your unpaid taxes (4.5% for late filings and 0.5% for late payments). levy this fine per month And it will continue to accumulate each month until it reaches 25% of the unpaid tax at the time of filing. government Interest is also charged The amount outstanding, depending on how much you owe and when. You must pay your balance in full to stop underpayment interest from accumulating each day.

How long does it take to get a tax refund?

If there are no errors or issues, the IRS will typically issue you a refund within 21 days of receiving your electronically filed federal return (fingers crossed). If you file a paper federal return the traditional way, it usually takes twice as long and can take up to eight weeks to get your refund. The timeline for obtaining a state refund varies by state, but filing electronically will generally result in a faster refund compared to paper filing. In many cases, you can get your refund in about five business days if you file your state taxes electronically, or about four weeks if mailed.

Where is my tax refund?

When you file your federal income tax return, you can check the status of your refund on the IRS website or its mobile app, IRS2Go. Keep in mind that each state has its own state income tax process (and timeline). Likewise, paper returns typically take much longer to process than returns filed electronically. Each state uses a slightly different system for people to check the status of their tax refunds. Generally, you need two pieces of information to check for a refund.

To check your status, you will need to provide your Social Security Number (SSN). (If you don't have an SSN, most states allow you to use several different types of ID, such as an Individual Taxpayer Identification Number (ITIN).) In almost every state, you must also provide your ID for the amount of the refund. Sometimes you can round your return to the nearest whole number, but some states require an exact amount. Other states may require additional information, such as your date of birth, filing status, or zip code.

I recommend checking your refund on the IRS website first. Remember, this is the government, so your refund information may not be immediately available. Your refund status should appear approximately 24 hours after you electronically file your current year's return, three to four days after you electronically filed your previous year's return, or four weeks after you filed your paper return. (Remember, you'll need your SSN or ITIN, tax filing status, and refund amount to check the status of your refund.)

What are the tax brackets for 2024?

Not sure what your tax rate is? It all depends on whether you are single, married filing jointly, married filing separately, or head of household. Tax rates increase gradually from 10% for the lowest earners (singles earning less than $11,600) to 37% for singles or heads of household earning more than $609,351.

Below is a quick chart showing the projected tax bracket amounts filed in 2024-2025.