Tax Filing Your 2010 Taxes Can Be Quite Simple

There is no need to be under stress when you have to prepare your tax returns. Tax filing your 2010 taxes can be quite simple if the tips given by the IRS are followed.

* Do not put it off. Make sure that you do not wait till the last minute to estimate your taxes. Any rush to meet a deadline can quite often result in errors and also failing to spot a potential for saving on taxes.

* A visit to the IRS website can be instructive. This site (http://wwww.irs.gov) received more than 300 million hits. You can find answers to any problems you have regarding tax filing if you make it a point to visit 1040 Central regularly.

* Free File is a program available on the IRS website that does all the tedious work when you have to fill forms online. This uses tax software which have been written by reputed companies. You can then prepare your tax return and even file it without spending any money. An income of less than $58,000 makes you eligible to receive the software free because of tie-ups between the manufacturer of the software and the government agency. If your income is above this limit or prefer to file your own returns you can do so by using the fillable forms available in Free File, which are the IRS paper forms in electronic form. You can review all the options that you have if you go to the website and look for free file.

* E-file through the IRS. A safe, common and easy way for tax filing is to use the IRS e-file system. This has been the case for over 20 years now. Almost a hundred million people, which makes up seventy percent of the taxpayers in the country, used IRS e-file last year. Tax preparers are required to do tax filing through IRS e-file from 2011 onwards and will explain the mechanics whenever you approach them. So you might as well make the attempt. So far almost a billion returns have been processed by IRS e-file and there have been no security or safety issues to contend with. You can file your returns immediately and make your payment options if tax is owed, and the actual payment can even be done later, before the deadline for payment. If you however opt for a direct deposit along with the e-file you will receive any refund within just 10 days of doing so.

* The mid-April deadline for payment of taxes is sometimes difficult to meet, and if you are unable to pay the full amount, you should still file your returns before the appointed date and ensure future payment with the necessary interest and penalties. You can get some payment options if you contact the IRS at 800-829-1040. There may be agreement reached to make such delayed payments in installments. Almost three fourths of taxpayers are eligible to apply for an Installment Agreement which can be done online. You can find this easily on the IRS website by searching for it with the words "Online Payment Agreement".

* An extension of time to file can be requested. You can ask for a six month extension for filing which gives you time up to the 17th of October as long as you have paid the taxes on time. This time extension does not give you any leeway for payment of taxes and you are required to pay at least ninety percent of the tax before the April deadline. Failure to do so can lead to your being subject to a penalty for the tax that is estimated. You need to fill Form 4868 to obtain the necessary extension for the filing of a tax return for individuals. This can again be easily done through the Free File facility on the IRS website. You can also have a form mailed to you if you call 800-TAX-FORM or download it from the website.

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