How to Easily File Taxes for Beginners

💼Filing taxes is crucial for funding government programs, including military, health, and foreign aid.

📝Employees decide how much money is withheld from their paychecks for taxes.

💰Tax refunds occur when taxpayers have sent in more money than their tax liability.

💻Taxpayers have various options for filing their tax returns, including using tax preparation software or seeking assistance from tax preparers.

⏰To file taxes successfully, gather all relevant tax documents and accurately report income, deductions, and credits.

What expenses are funded by income taxes?

—Income taxes fund government expenses such as the military, health programs, interest on national debts, and foreign aid.

How much money is withheld from an employee's paycheck for taxes?

—The amount of money withheld from an employee's paycheck for taxes is determined by the employee, who specifies the amount on their W4 tax form.

What happens if I overpay my taxes?

—If you overpay your taxes, you will receive a tax refund, and the overpaid amount will be refunded back to you.

What are the options for filing taxes?

—You can choose to file your taxes manually using tax forms, seek assistance from tax preparation chain stores or tax accountants, or use tax preparation software such as TurboTax.

What documents do I need to file my tax return?

—You will need relevant tax documents such as W2, 1099, 1098, and 1098e forms from employers, financial institutions, and lenders.

00:00This video teaches you how to easily file taxes for beginners, focusing on personal income tax returns with the IRS.

02:42The options for filing taxes include manual filing using tax forms, seeking assistance from tax preparation chain stores or tax accountants, or using tax preparation software.

03:59Tax preparation software such as TurboTax makes the tax filing process user-friendly and offers free filing for many taxpayers.

07:31Gather all relevant tax documents, including W2, 1099, 1098, and 1098e forms, to accurately report income, deductions, and credits on your tax return.

09:59Follow the three-step process: fill out your tax return, submit it to the IRS electronically (e-file), and choose to receive your tax refund via direct deposit or set up a payment plan if you owe taxes.