- FreeTaxUSA: A popular free tax service that, similar to the IRS’s free filing tool, allows you to e-file your federal return directly to the IRS for free. You can also file state returns for just $15. Although FreeTaxUSA is super affordable, including services for more complicated applications like home ownership, investments and small businesses.
- Cash taxes on applications: A Venmo-like mobile finance tool, Cash App has been acquired by Credit Karma and provides free federal and state filing and free audit defense. You can pay your taxes via computer or phone, and even easily snap a photo for your W-2 within the app. Reviewers reported it Cash taxes on applications doesn’t have as much support as paid services and doesn’t have expert tax help if you need it. It lacks some forms and tax topics, and users can’t import 1099s, so it’s really only good for W-2 employees.
- Block H&R: This well-known name has been a trusted tax service provider for over 70 years and has the classic personal assistance of a tax professional, along with simple online tax services. It is more expensive, but Block H&R does not provide user and holistic services, including online do-it-yourself packages, Online Assist (which includes assistance from a tax professional), tax officer services and computer software. WIRED offers H&R Block Coupons to save money if you choose this service.
- TurboTax: Another extremely popular tax service serving millions of users, TurboTax has free services for eligible people, offering only simple Form 1040 returns. Along with self-service, there’s TurboTax Live Assisted, where you can file online with help from a tax professional if needed; and TurboTax Full Service, where a tax professional will process your taxes and review them with you before filing.
How to file taxes for an LLC or small business
Tax filing for small businesses or LLCs is a bit more demanding, and that’s where going with one of the tax services listed above—with advanced programs and expert help—can save you a lot of headaches. Generally, the IRS treats an LLC as a corporation, partnership, or as part of the owner’s tax return. For income tax, LLC with only one member it is treated separately from its owner and is subject to tax on net earnings from self-employment.
If the LLC is a partnership, the normal partnership tax rules apply and all partners will need to file Form 1065, US Return of Partnership Income. Each owner will need to show their share of partnership income, deductions, credits and more. If the LLC is a corporation, income tax rules apply and it needs to file Form 1120, US Corporate Income Tax Return.
How to submit a tax extension
Okay, so you didn’t file early. We chronically procrastinate here, we understand. If you can’t submit in time, you should file an extension until the tax deadline. This will advance your tax filing deadline and protect you from possible penalties for not filing.
If you file an extension by tax day (April 15, 2025), that extends your filing deadline to six months later: October 15, 2025. But remember, an extension to file doesn’t mean the time to pay your taxes will also be extended. If you don’t pay your taxes by April 15—regardless of whether you’re granted an extension—you could be required to pay penalties as well as interest on the unpaid amount.
What happens if you miss the deadline?
This can result in penalties and interest, but if you file as soon as possible, you can keep those penalties to a minimum. If you can’t pay the full amount, you can set up a payment plan with the IRS to pay in installments over the course of a year. If you forgot or simply didn’t file for an extension (and owe tax), you could face a late filing punishment a maximum of 5 percent of unpaid tax (4.5 percent for late filing and 0.5 percent for late payment). This penalty is charged monthly and will continue to accumulate each month until it reaches 25 percent of the unpaid tax at the time of filing. Government also charges interest on unpaid balances, which varies depending on how much you owe and how long you owe. You will need to pay your debt in full to prevent the daily accrual of insufficient interest.
How long does it take to get a tax refund?
The IRS usually issues your refund within 21 days of receiving your e-filed federal return if there are no errors or problems (fingers crossed). If you go old school and file a paper federal return, it usually takes twice as long and could even take up to eight weeks to get your refund. Deadlines for receiving state refunds vary from state to state, but filing electronically usually results in faster refunds compared to filing on paper. In many cases, if you file your state taxes electronically, you can get your refund within five business days, or about four weeks if you mail it.
Where is my tax refund?
When you file your federal income tax return, you can check the status of your tax refund at website of the tax administration or on your mobile app, IRS2Go. Remember, each state has its own process (and deadlines) for state income tax. Again, processing a paper return generally takes significantly longer than processing an electronic return. Each state uses slightly different systems to allow people to check the status of their tax refunds. In general, you will need two pieces of information to verify your refund.
To check yours statusyou will need a social security number (SSN). (If you don’t have an SSN, most states allow you to use several different types of ID, such as a taxpayer identification number or ITIN.) In almost every state, you’ll also need to list the amount of your refund. Sometimes you can round your refund to the nearest whole number, but some states require an exact amount. Other states may also require additional information, such as your date of birth, application status, or zip code.
I suggest you check your return at website of the tax administration first. Just remember, this is the government, so refund information may not be available immediately. Your refund status should appear about 24 hours after you e-filed the current year’s return, three or four days after you e-filed last year’s return, or four weeks after you filed your paper return. (Remember, you’ll need your SSN or ITIN, filing status, and refund amount to check refund status.)
What are the tax brackets for 2024?
Not sure what tax rate you fall into? It all depends on whether you are single, married and filing together, married but filing separately, or head of household. The tax rate goes in steps, starting at 10 percent for those earning less than $11,600 as a single person, and rising to 37 percent for single or head-of-household people earning more than $609,351.
Here is a quick chart which shows the amounts for the predicted 2024 tax brackets to be reported in 2025.