5 Helpful Online Resources for Tax Forms

May 7th 2016

With these convenient online resources, filing your taxes can be easier and less stressful. For the most effective strategy, start reading well before tax day to streamline the planning process. By building an understanding, you can document new deductions and adjust your work strategy to claim the biggest return.

IRS Website

The Internal Revenue Service website is the most accurate and timely online tax resource. The IRS updates content as tax laws change, so you can rest assured that you are getting the best possible advice. Browse through the Filing section of the website to learn about tax preparation, specific IRS tax forms, deductions and more. The website also features a library of educational articles on a variety of tax topics, from filing as a sole proprietor to determining which items are suited for itemization.

Small Business Tax Virtual Workshop

The IRS maintains a video portal on Tax.gov that features helpful videos designed to provide tax instruction. If you run a business, one of the most helpful resources, as of 2015, is Small Business Taxes: The Virtual Workshop. With nine lessons covering topics such as filing taxes, hiring employees and managing payroll, the workshop can be helpful throughout the year.

Charity Deductions

If you plan to take tax deductions for items you donated to charity, it can be difficult to estimate the total value. CharityDeductions.com takes the hassle out of the estimation process. All you need to do is enter the items; the website's software uses eBay price information to estimate the fair market value for each donation. The Charity Deductions website can help you track cash donations, physical donations and charitable mileage.

Liberty Tax

Liberty Tax, a tax preparation company, offers a free resource library on its corporate website. Each article breaks a complex tax topic down into easy-to-understand language, making it easier to apply to your situation. With topics such as taxable versus nontaxable income, dependents and deductions, you can find an article for almost any common tax issue.

TurboTax

TurboTax publishes a library of articles and informational videos geared toward standard taxpayers on its website. Each piece covers a specific tax topic, offering helpful tips and providing details that demystify the process. Some articles cover timely topics, such as enrollment dates for the Affordable Care Act, while others provide information about little-known tax deductions that may help increase your return.

Conclusion

Tax forms can be confusing, particularly when your tax status changes or you experience a major life change. Fortunately, not all questions require costly help from a tax professional. With free online tax resources, you can learn about tax laws and get help with filing, all from the comfort of your home.

Sources

IRS.gov "Filing your taxes" http://www.irs.gov/Filing
Tax.gov "Small business taxes: The virtual workshop" http://www.tax.gov/virtualworkshop/
CharityDeductions.com "How it works" http://charitydeductions.com/how-it-works
LibertyTax.com "IRS tax information" https://www.libertytax.com/tax-resources/
TurboTax.Intuit.com "Tax tips and videos" https://turbotax.intuit.com/tax-tools/tax-articles-and-tips/

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