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The Best Online Tax Software & IRS eFile Services: 2009 2010
 
 

   Top Choices: EFile 1040-A & 1040-EZ Taxes

If you earn less than $100,000 per year and do not itemize tax deductions, the following online tax preparation and eFile services are a good match for you. They offer easy, low-cost options to efile "short form" taxes (1040-A or 1040-EZ).
The following efile company is an industry leader in online taxes. Their tax software is free to use. We picked them because they are the fastest and easiest ways to do 1040A or 1040EZ taxes. IRS eFile is offered for a small fee.
Free Online Tax Software: » Taxhead.com
 
   Top Choices: Tax Form 1040 ("Long Form")
If you need a regular 1040 (Long Form), we suggest you consider:
Taxcut Software.
 

 

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Earned Income Tax Credit (EIC) for 1040A 1040EZ tax filers

Tax Credits Extended to Working Individuals and Families

The Earned Income Tax Credit ("EIC" or "EITC") and the Child Tax Credit are federal income tax benefits for working individuals and families. These credits have become even more accessible thanks to IRS tax changes, including changes to how "combat pay" is treated.

Combat Pay: Some military personnel receiving combat pay get larger tax credits because of two law changes. The new law counts excludable combat pay as income when figuring the Child Tax Credit and gives the taxpayer the option of counting or ignoring combat pay as income when figuring the Earned Income Tax Credit. Counting combat pay as income when calculating these credits does not change the exclusion of combat pay from taxable income.

The EITC is a refundable federal income tax credit for low-income working individuals and families. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.

EITC Assistant - You can find out if you are eligible for the Earned Income Tax Credit (EITC) by answering a few simple questions and providing basic income information. Tax software such as Taxhead.com make these calculations for you based upon information you enter. The IRS also has an online tool to assist you in determining your correct filing status, determining whether your child(ren) meets the tests for a qualifying child, and estimate the amount of credit that you may receive.

For more information about combat pay, the IRS has a special information page called Tax Information for Members of the U.S. Armed Forces available on their Web site.

Online tax programs like Taxhead.com allows persons to prepare and e-file their tax return quickly, and receive their IRS tax refund in days. These online services are developed specifically for persons qualifying for the 1040-EZ or 1040-A ("Short form") federal income tax return. They include combat pay and EITC calculations and features.