Officially, you may start filing your taxes on January 1st, however E-filing will not be available until January 11th (unless you decide to pay the money to go to H&R Block who can start E-filing on January 4th.)

But first thing’s first. You must have acquired all of your paperwork. For some of you with nice considerate employers, you should hopefully have all your W2’s and 1099’s very soon. Once you have these papers, it’s just a matter of plugging in the numbers. For others who have to wait, that’s what you must do…wait. You can attempt to “create” your W2’s using your last paycheck and the information from your prior year’s W2, but this is risky. Miscalculations could cost you dearly. So, just relax.

If you haven’t received your W2’s by February 15th, that’s when you should start to worry and contact the IRS for more information about acquiring those papers.

The e-filing software you choose will depend on the uniqueness of your tax situaton. For our most complex of tax filers, those of you with privately owned businesses or a great deal of investments, you will want to choose software that allows you to easily track deductions. Top choices for this are TurboTax (premiere edition: $24.95 state, $59.95 fed) or CompleteTax ($44.90 state, $29.95 fed). These programs are easy to use and   extremely accurate in their calculations.

Now for you less complicated filers, go with regular TurboTax ($29.99 state, free fed), H&R Block at Home ($49.95 state, $19.95 fed) or TaxAct ($13.95 state, free fed). These walk you through the 1040EZ and other easy forms. With a few answered questions and quick calculations, you can be sure that the information you are sending is accurate and complete. Who doesn’t like one less worry?

**Bonus!** Most of these online softwares offer direct deposit. No more waiting for the mailperson to bring your refund check!

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TaxAct is exceptionally easy to use. TaxAct has terrific step by step videos, free online tax guidance, and guarantees 100% accurate calculations. Also, TaxAct has one of the cheap state efiles - only $13.95 for your state efile.

TaxAct 2008 is available as an online application, where you can file your taxes directly from your web browser. Additionaly, you may also download TaxAct software and process your tax forms offline. TaxAct Standard 2008 can be downloaded free, or you can request a free CD in the mail.

We’ve always been a fan of TaxAct — it is easy to use and it is affordable. It is a best bet for anyone with a somewhat simple financial situation.

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Intuit’s TurboTax leads the market in tax preparation. TurboTax features intuitive navigation, great calculators for all your tax deductions, and specializied audit support. Just answer simple, personalized questions, and TurboTax enters all your information into the proper forms.  If you have a coupon from your employer, you can redeem it when you file your return for your discount.  All other TurboTax promo codes and TurboTax coupons must be redeemed when submitting your return to be validated.

Redeem Free Version of TurboTax Here

All promo codes and coupons expire and must be redeemed by April 16, 2010.

Free Federal eFile Included
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Yes, it’s true. You can file your federal taxes for free with industry leading TurboTax. TurboTax is easy to use, with deduction hints and filing advice. Just answer easy to understand questions about your income and expenses. All your information is automatically entered into the correct tax forms — either a 1040, 1040EZ, or 1040A. But don’t worry, TurboTax will suggest the correct form to use.

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You’ll find TurboTax exceptionally easy to use. You can save your progress and return to it at your own pace. Expert tax advice is given live from TurboTax experts and a live community. Frequently asked questions are displayed on every screen.

Additionally, when it’s time to file your state taxes, all your data can be automatically transferred to the correct state forms. State efile is additional: about $26 for a state efile — quite reasonable if you are used to using a tax professional to file your taxes.

We love TurboTax – Try TurboTax Now.

We recommend TurboTax and H&R Block at Home to efile your taxes.

With online eFile, you can get your tax refund quickly. Most efile solutions now offer direct deposit — so your tax refund will be automatically added to your bank account in as little as 8 days.

There are various tax services that offer free efile of your Federal tax return. You should expect to pay a small amount to eFile your state return. TaxAct offers free federal efile, and State efile for just $13.95.  Taxact does all the calculations for you — all you have to do is answer simple questions about your income.  Spend a little more, and receive advanced features for additional tax assistance frome TurboTax and TaxCut from H&R Block.

Read full reviews of tax software and compare all tax programs.

In order to file your taxes, you’ll need your W2 or 1099 forms from all employers you’ve worked for in the past year. Businesses are required to mail these by the end of January — but you may receive these earlier if you employer’s accountant is really on top of things. Once you have these forms from your employer, you can efile your state and federal taxes online. Note that some efile programs (such as TaxAct), will not be available until the second week of January.