Get your tax refund faster with online filing

ByABC News
February 13, 2009, 8:25 PM

— -- Tax season is here. Last year's average tax refund was almost $2,500. Given the economy, you can probably use this money now. Fortunately, you can get your refund in less than two weeks if you file your taxes electronically. And filing your return using tax software and the Web has never been easier.

Get answers

A mistake on your taxes can be costly. And you could do without the hassle of an audit. That's why it's important to understand tax laws.

The Internal Revenue Service has plenty of information on its website, but it can be difficult to understand. Sites like Motley Fool, MSN Money, Kiplinger's and SmartMoney can help. You can read postings on these sites from tax experts written in plain English. Chances are, you'll find answers to your questions. You can also learn about commonly overlooked deductions, which can lead to more money in your pocket.

There's more to taxes than deductions, though. If your situation is complex, you may want to hire a professional. The above sites will help you decide when it's time to call for help. Remember that paying a professional will be cheaper than an audit.

Web addresses for these sites are at www.komando.com/news. That also goes for other sites in this column.

File electronically

In recent years, the IRS has encouraged taxpayers to file electronically. This year is no different.

Anyone can file federal returns for free using the IRS' e-File option. With e-filing, you can get your refund in as few as 10 days.

Your tax preparer can e-file for you. Or, you can e-file using tax-preparation software. E-filing is also available through the IRS' Free File Fillable Forms.

Software can help

I recommend using tax-preparation software to file your taxes. All you need are your financial records. The software performs the calculations for you. And you don't need to worry about finding the correct forms.

TaxCut, TaxAct (one of my show's advertisers) and TurboTax are three of the most popular tax programs. Prices for personal versions range from free to $50. You may have to pay extra for your state returns.