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Efile your taxes
online and receive your taxes in as little as 8 days. Your taxes will be filed directly to the IRS which is the safest and most secure method of filing. Just click on "start your free tax return" and you will be directed to the TurboTax website where you will be able to use their award winning free software for filing your taxes.
Learn About Your Taxes
Taxes are fees levied by the federal government based on your income level and are typically collected throughout the year. You pay taxes on income received and at the end of the year you will either owe taxes or receive a tax refund.
Income Taxes
Income taxes are based on four primary components which are federal taxes, state taxes, social security taxes, and medicare taxes. Federal income taxes are withheld by your employer and typically make up the majority of taxes you would either owe or be refunded at the end of the year. State taxes are additional fees collected by indivudual states through your employer. Before you file your taxes make sure you check and see if your state requires income taxes (Florida does not for example).
Social Security Taxes
Social Security and Medicare taxes are also knows as FICA taxes. They are collected to help pay for those governmentally funded programs. These two types of taxes are not available for refund and are based on your income level. The current Medicare tax rate is 2.9% for the employer and employee. The current Social Security tax rate is 6.2% for the employer and employee.
State and Federal Unemployment Taxes
The last tax that makes up your income taxes is the State and Federal Unemployment Taxes (SUTA and FUTA). Their current rate is 6.2% but their are discounts available depending on your income level and the business history of your employer. Click here to learn more about taxes.