Free Resources and Helpful Links to Get Organized for the 2011 Tax Season

It’s that dreaded time of year again — taxApril 15th, 2011 Tax Filing Deadline season!  It’s time to gather all your end of the year financial documents, income statements, itemized deductions, and other mounds of paper to calculate how much you owe to (or are owed by) Uncle Sam.  Whether your files include documents titled 1099, W2, W4, or 1040, the alphabet soup of tax preparation can be frustrating, time-consuming, and challenging.  At this point your blood pressure probably just jumped and your palms began to sweat.  Is that because your files are a mess?  (Check out our low maintenance Color-Coded filing system that makes tax time a breeze.)  In order to save you time, stress, and frustration we assembled a list of resources to help you organize your documents, and prepare and submit your taxes (see below).

Here are some tips to help you efficiently prepare your tax return:

  • Divide your total estimated preparation time into smaller blocks of time.  Designate these blocks on your calendar with high priority to help you meet your deadlines.
  • Talk to your family in advance to make them aware of your need for quiet time to concentrate on taxes.
  • Turn off your cell phone and close your e-mail and social media sites.  Distractions abound when deadlines are looming.
  • As you begin your tax preparation, choose a quiet location with a comfortable workspace that offers adequate lighting and enough room to spread out your documents.
  • Be sure to have all the information handy that you will need to complete your tax return.

Summary of Important / Significant Federal Tax Law Changes and Updates:
http://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Summary-of-Federal-Tax-Law-Changes-for-2010-2017/INF12041.html
http://www.irs.gov/formspubs/content/0,,id=178012,00.html

Resources for Itemizing Deductions:
CharityDeductions.com
ItsDeductible.com

Free Filing Resources:
Intuit TurboTax Freedom Project
freefile
H&R Block Free Edition
Jackson Hewitt Basic (Free)

IRS e-file Options:
http://www.irs.gov/efile/index.html?portlet=8

Mileage Estimation Tools:
Google Maps
Bing Maps
Yahoo Maps
Mapquest

Check Your Refund Status:
IRS Refund Status Checking Tool

Withholding Calculator to Determine an Approximation of Your Monthly Adjusted Income:
http://www.irs.gov/individuals/page/0,,id=14806,00.html

Tax Forms:
2010 Form W-4
Form W-9
Form 1040
Form 1040EZ
Form 1040-X
Form 4506-T
Form 6251

Information for Individual Taxpayers Claiming a Homebuyer Tax Credit:
http://www.irs.gov/newsroom/article/0,,id=204671,00.html

IRS Frequently Asked Questions (FAQs):
http://www.irs.gov/faqs/index.html?portlet=5

2011 Tax Season Information from the IRS:
http://www.irs.gov/newsroom/article/0,,id=233910,00.html?portlet=7

Free Online Tax Research Resource and Community Wiki:
TaxAlmanac.org

IRS Guide on How to Recognize and Avoid Tax Scams:
http://www.irs.gov/businesses/small/article/0,,id=106788,00.html

Common Deductions and Adjustments to Income:
http://www.taxalmanac.org/index.php/Deductions
https://www.wellsfargo.com/tax_center/taking_control/income/common_deductions
http://www.buzzle.com/articles/common-tax-deductions.html
http://www.staples.com/sbd/content/open/deductions.html

Small Business Tax Deductions:
http://www.business.gov/manage/taxes/business-income/tax-deductions.html
http://www.irs.gov/businesses/small/article/0,,id=109807,00.html

Alternative Minimum Tax (AMT):
IRS AMT Assistant
http://en.wikipedia.org/wiki/Alternative_Minimum_Tax
http://www.hrblock.com/taxes/tax_calculators/rate_tables/amt.html
Form 6251

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