by ,

# How much retirement income will \$1 million generate?

## How much retirement income can I get from a \$1 million nest egg? –Darrell, Texas

I hate to sound as if I’m equivocating, but the answer depends on a whole bunch of factors, including your age, your sex, the level of interest rates and the investment returns you earn, how long you would like the income to last and how much assurance you want that it will last that long. And I’m doing my best to keep the list short.

Here’s an example. Let’s say that you’re a 65-year-old man and that you’d like to turn your \$1 million nest egg into monthly payments that are guaranteed to last the rest of your life. Well, to achieve that goal you could buy an immediate annuity with your \$1 million and, based on today’s payout rates, you would get roughly \$5,660 a month for the rest of your life.

A 65-year-old woman would receive somewhat less, however — about \$5,440 a month — because women generally live longer than men. And a 65-year-old couple (man and woman) would receive less still — roughly, \$4,800 a month — since at least one member of a couple is likely to be around longer than just the man or woman alone.

But age matters too. A younger person, say, a 60-year-old man who puts \$1 million into an immediate annuity would receive less than his 65-year-old counterpart — \$4,990 vs. \$5,660 — while a 70-year-old man would collect more, about \$6,420 a month.

And remember that I mentioned interest rates were a factor? Well, all else equal, annuity payouts are fatter when interest rates are higher. So back in late 2008 when high-quality bond rates were a good two percentage points or more higher than today, a 65-year-old man who put \$1 million into an immediate annuity would have received about \$6,750 a month for life vs. \$5,660 today. You can see how much guaranteed lifetime income you might receive for \$1 million — or any other amount — for singles and couples at various ages by going to this annuity payment calculator.

Just to be clear, I’m not suggesting you or anyone else should put his entire \$1 million nest egg into an immediate annuity. That probably wouldn’t make sense, as you would no longer have access to your \$1 million for emergencies and such (although in return for a smaller payout some annuities do provide at least some access to principal or allow for payments to continue after death). And even if you had enough extra dough set aside so that you did want to put \$1 million into an annuity, I’d recommend that you buy in stages rather than all at once and spread your money among annuities from several insurers just on the off chance one of them ran into financial difficulties in the years ahead.

Keep in mind too that the payments I’ve quoted don’t rise with inflation, so your purchasing power would gradually decline as you age (although some immediate annuities offer payments that rise with inflation, but with a lower initial payment).

Of course, despite research showing that immediate annuities are an excellent way of generating lifetime income, many people want nothing to do with them. If you’re in that group, the question becomes how much annual income can you draw from \$1 million invested in a diversified portfolio of stock and bond funds without running out of money before you run out of time? Again, it depends.

For years, many retirees followed the 4% rule — that is, they withdrew 4% of their savings the first year retirement and then increased that initial dollar draw by the inflation rate to maintain spending power. So assuming annual inflation of, say, 2%, someone with a \$1 million nest egg following that rule of thumb would draw \$40,000 (\$3,333 a month) the first year of retirement, and then increase that amount by 2% to \$40,800 (\$3,400 a month) the second year of retirement, \$41,600 (\$3,470 a month) the third, and so on. Historically, if you followed this regimen, you had a high likelihood — roughly a 90% chance — that your money would last at least 30 years, long enough to carry most people through retirement.

But with many market watchers forecasting lower investment returns in the years ahead, a number of retirement-income experts have suggested that retirees who want a 90% or so probability of their savings lasting 30 or more years ought to scale back to an initial withdrawal rate of 3% or so. That would reduce the initial withdrawal on a \$1 million nest egg by 25% from \$40,000 a year to \$30,000, or from \$3,333 a month to \$2,500. That’s not to say you can’t withdraw more — 4%, 4.5%, 5% or whatever. It’s just that as your withdrawal rate rises, the chances of your money lasting 30 or more years can decline sharply.

Of course, you could always hope to earn more on your investments and, if you’re successful, your money might still last 30 years or longer even at a higher withdrawal rate. Or you could assume that, given your life expectancy, you’ll need your savings to last only 20 or 25 years instead of 30, in which case a higher withdrawal rate might work out fine (although if your assumption is wrong, your final retirement years could be grim). You can see how your chances of running out of money go up or down for different withdrawal rates and varying spans of time by going to this retirement income calculator.

Perhaps the question you should really be asking, however, isn’t how much income can you get from \$1 million, but how much retirement income you need and what’s the best way to get it from all your retirement resources — your savings, any pensions, Social Security, etc. That turns a theoretical question with an almost endless variety of answers into a more practical one that you can try to answer for your particular circumstances.

To do that, you’ll want to go through a rigorous retirement-income planning process that starts with thinking seriously about how you’ll live in retirement and then moves on to such tasks as making a retirement budget; assessing different strategies for claiming Social Security benefits; considering whether you want more guaranteed income than Social Security alone offers (which is where an annuity might play a role); and, settling on a withdrawal rate that has a reasonable shot at making your savings last as long as you do.

Bottom line: Whatever size nest egg you’re dealing with, you’ve got lots of options for converting it into income. The key is to settle on one or more of those options that has a solid shot at getting you the retirement income you require with a reasonable assurance that it won’t run out.

by ,

# Is YOUR Retirement Plan Sinking?

Learn how you can easily change the results.

## HOW TO RETIRE with GUARANTEED TAX-FREE INCOME

Why employees who have a 401k plan have 3 strikes against them.

1) The Government is not your friend. You have to report your 401k

When you retire taxes will be due at much higher rate and your tax bracket

will be even higher at retirement. This will cause a major tax problem for

you when funds are needed the most, for retirement. Due to the fact that

you are in a Gov’t sponsored plan and the Gov’t is aware of your saving, they

will consider your 401k to be income and you will receive reduced social security

benefits for life. The govt get you from both ways. Strike One.

2) Your 401k guy is not your friend. Most 401k guys know 98% of employees

never check past fund history when choosing funds in the plan. So many fund choices

are low performance/high commission funds. Also, the higher your plan balance the

more you pay in high fees and commissions. These fees are killing your retirement

savings. Many fees are undisclosed due to this reason. Indexing your savings in the

S P eliminates all these problems. Strike Two.

3) Your money is not protected from stock market losses.Your in a retirement saving

plan that is not protected from market crashes. A long term employee will incur 3-4

market crashes in his employment career. It’s not if, but when, you will lose a good

chunk of your retirement savings again. Then it s recouping time. Wasted years on having

to get back to even. What if you had a retirement plan that guarantees no losses,

only gains in the stock market. Strike Three.

In conclusion: How can anyone expect to be secure heading into retirement with

these three strikes against them. We all hope there’s a better way to save for our

retirement years without having the fear of unprotected losses, running out of

money, premature death, high taxes.

We all have insurance for our homes, cars, health, life and more. Why aren’t we

protecting and ensuring our retirement savings from Market losses, Gov’t taxes,

and greedy 401k guys? It’s our life’s savings. Shouldn t it be insured too?? Isn’t

it better to know that your retirement savings are also insured? To know you will

never run out of your retirement savings. It’s all guaranteed income for life. Your

own private pension plan. Sleep good, be stress-free with good health. You have

no more financial worries.

#### The 401K is a 20th Century retirement

plan with a 21st Century audience.

We upgrade our cell phones every two years. How many times have we even looked at a better and upgraded retirement plan? Your family is the ones losing out if you don t take action.

Complete the form below so we can send you more valuable information on this new retirement plan that is replacing the 401K. It s time to retire your 401K and stop paying taxes at retirement.

by ,

# How to Estimate Taxes in Retirement

You will continue to pay taxes in retirement. Taxes are calculated on your income each year as you receive it, much like how it works before you retire. It s important to estimate the amount of taxes you ll pay in retirement so you can budget for it and set up your tax withholdings (or quarterly payments) in advance.

Each type of income you receive will have different tax rules that apply to it. To estimate your taxes in retirement, you need to know how each income source shows up on your tax return.

Below I ve listed how the six most common types of retirement income are taxed. Then I provide an example of how to estimate your tax rate and total taxes in retirement.

### 1. Social Security Income

If your only source of retirement income is Social Security, then you probably won t pay any taxes in retirement. If you have other sources of income, then a portion of your Social Security income is likely to be taxed. A formula determines the amount of your Social Security that is taxable. The result is that you may have to include up to 85% of the Social Security benefits as taxable income on your tax return.

The amount that is taxable (anywhere from zero to eighty-five percent) depends on how much other income you have in addition to Social Security. The IRS calls this other income combined income, and in the tax worksheet, you plug your combined income into a formula to determine how much of your benefits will be taxable each year.

Retirees with a high amount of monthly pension income will likely pay taxes on 85% of their Social Security benefits, nd their total tax rate may run anywhere from 15% to as high as 45%. Retirees with almost no income other than Social Security will likely receive their benefits tax-free and pay no income taxes in retirement.

### 2. IRA and 401(k) Withdrawals

Most withdrawals from retirement accounts are taxed in retirement. This means IRA withdrawals as well as withdrawals from 401(k) plans, 403(b) plans, 457 plans, etc., are reported on your tax return as taxable income. Most people will pay some tax when they withdraw money from their IRA or other retirement plans.

The amount of tax you pay depends on the total amount of income and deductions you have and what tax bracket you are in for that year. For example, if you have a year with more deductions than income (such as a year with a lot of medical expenses), then you may not pay tax on withdrawals for that year.

There is one type of retirement account where withdrawals are usually tax-free. If done correctly, you will pay no retirement taxes on Roth IRA withdrawals.

### 3. Pensions

Most pension income will be taxable. The easiest way to determine the likelihood that your pension income will be taxed is to use a simple guideline: if it went in before tax then when you withdraw it, it will be taxed. Most pensions accounts were funded with pre-tax income, which means the entire amount of your annual pension income will be included on your tax return as taxable income each year.

In this case, you can ask that taxes be withheld directly from your pension check.

If a portion of your pension account was funded with after-tax dollars then each year a portion of your pension income will be taxable and a portion will not.

### 4. Annuity Distributions

If your annuity is owned by an IRA or another retirement account, then the tax rules in the section on IRA withdrawals will apply to any withdrawals or annuity payments you receive from that annuity.

If your annuity was purchased with after-tax dollars (meaning not purchased within an IRA or another retirement account) then the tax rules that apply depend on what type of annuity you purchased.

• Income from an immediate annuity—A portion of each payment you receive from an immediate annuity is considered a return of principal and a portion is considered interest. Only the interest portion will be included in your taxable income. Each year the annuity company can tell you what your exclusion ratio is, which tells you how much of the annuity income you receive can be excluded from your taxable income.
• Withdrawals from a fixed or variable annuity—The tax rules on these types of annuities say that earnings must be withdrawn first, which means if your account is worth more than what you contributed to it, when you take withdrawals, initially you will be withdrawing earnings or investment gain, and it will all be taxable income to you. Once you have withdrawn all your earnings, then you will be withdrawing your original contributions (called your cost basis), and those are not included in your taxable income.

### 5. Investment Income

You will pay taxes on any dividends, interest income, or capital gains, just as you did before you were retired. These types of investment income are reported on a 1099 tax form each year which is sent to you directly from the financial institution that holds your accounts.

If you systematically sell investments to generate retirement income, each sale will generate a long or short term capital gain (or loss) and that gain or loss will be reported on your tax return. If your other income sources are not too high you may qualify for the zero percent capital gains tax rate—which means you would pay no tax on all or a portion of your capital gains for that year.

If you own investments that are not inside of a retirement account you can learn how to manage your capital gains and losses to reduce the taxes that you pay in retirement.

Not every source of cash flow from investments is counted as taxable income. For example, assume you own a bank CD. The CD matures in the amount of \$10,000. That \$10,000 is not extra taxable income to be reported on your tax return—only the interest it earned is reported. But the entire \$10,000 is available as cash flow you can use to cover expenses.

### 6. Gains Upon Sale of Your Home

If you have lived in your home for at least two years then most likely you will not pay taxes on gains from the sale of your home unless you have gains in excess of \$250,000 if single, or \$500,000 if married. If you rented your home out for awhile, the rules get more complex and most likely you will need to work with a tax professional to determine how any gains need to be reported.

To put all this together, you can do a mock tax return to estimate your taxes in retirement. An example follows.

### Calculating Your Tax Rate in Retirement

Your tax rate in retirement will depend on your total amount of income and deductions. To estimate the tax rate list each type of income, and how much will be taxable. Add that up. Then reduce that number by your expected deductions and exemptions.

For example, assume you are married and you will have \$20,000 of Social Security, \$25,000 a year in pension income, you expect to withdraw \$15,000 from your IRA, and you estimate you ll have \$5,000 a year of long-term capital gain income from mutual fund distributions. You add up your ordinary income (not including capital gains) using 85% of your Social Security benefits, and get \$57,000.

Your standard deduction and personal exemptions add up to \$20,800. That puts your estimated taxable income at \$36,200. You look up the 2017 tax rates and see that puts you in the 15% tax bracket. As the tax rates are tiered, you ll pay 10% on the first \$9,325 of taxable income and 15% on the income that falls between \$9,326 and \$37,950. That makes your estimated tax bill \$4,963. As you are in the 15% or lower tax bracket, your capital gains will qualify for the zero percent cap gains rate and will not be taxed. To pay your taxes in a timely manner you could either set up quarterly tax payments of \$1,240 per quarter, or you could ask your pension to withhold taxes at about a 20% rate.

There are certainly ways to structure your retirement income so that you pay lesser taxes in retirement—it will take research on your part or the assistance of a professional retirement planner or tax advisor.

by ,

# Income Tax Filing

Its is mandatory for individuals, NRIs, partnership firms, LLPs, Companies, Trust to file income tax returns each year. Individuals and NRIs are required to file income tax return, if their income exceeds the exemption limit. Partnership firms are required income tax return – irrespective of amount of income or loss. All companies are mandatorily required to file income tax return. Finally, it is mandatory for most types of trust to file income tax every year, while some types of trusts are required to file return of income if its gross total income exceeds the exemption limit.

Income tax return form can be e-filed or manually filed. Income tax returns do not have the ability to accept any attachment while efiling or manually filing. Hence, all relevant documents pertaining to the income tax filing like proof of investment, TDS certificates, pay slip, rent receipt, etc.) must be retained by the taxpayer and should be readily available if requested by tax authorities during assessment, inquiry, etc.

IndiaFilings is the largest business services platform in India, offering a variety of services like company registration, trademark registration, GST registration, income tax filing and more. IndiaFilings can help you file income tax returns. Get a free consultation for income tax filing through IndiaFilings by scheduling an appointment with an IndiaFilings Advisor.

### ITR 1 (SAHAJ)

Income Tax Form ITR-1 (SAHAJ) is for individuals having income from salaries, one house property and other sources like interest, etc., This is the most used income tax return type.

### ITR 4

Income Tax Form ITR 4 is for individuals and Hindu Undivided Families having income from a proprietary business or profession. This form is used by proprietorship firms.

### ITR 5

Income Tax Form ITR 5 is used by most partnership firms as it is intended for persons other than individuals, Hindu Undivided Families, companies and person filing Form ITR-7.

### ITR 6

Income Tax Form ITR 6 ​is used by companies like one person company, private limited company, public limited company and other for-profit companies.

### ITR 7

Income Tax Form ITR 7 is used by persons, political parties, news agencies, universities and entities in receipt of income from property held under trust for charitable or religious purposes.

by ,

# Free Tax Preparation and Tax Problem Resolution Services

A variety of non-profits, universities and even local Internal Revenue Service offices provides tax preparation assistance and tax problem resolution services to the public for free. Here s a list of programs providing free tax preparation and free tax problem resolution services.

### Free Tax Preparation Services

• The Volunteer Income Tax Assistance Program, or VITA, is a community of volunteers who provide tax preparation services for people earning \$53,000 or less. VITA will help you prepare your tax return, and most will file your tax returns electronically. You can find a local VITA site by calling toll-free 1-800-906-9887. You can also find a list of some VITA locations on the Treasury Department s Web site. VITA is funded partly by grants from the IRS.
• The Armed Forces Tax Council provides free tax preparation assistance for military personnel and is a part of the IRS-funded VITA program. Volunteers are especially trained in tax issues frequently encountered by people who work for the Air Force, Army, Navy, Marine Corps, and the Coast Guard. For people who want to prepare their own return, Military One Source provides free access to H R Block At Home. You can learn more about tax services provided through Military OneSource. You can also speak to a tax advisor at no charge by calling the Military OneSource Tax Hotline at 1-800-730-3802.
• Tax Counseling for the Elderly provides free tax preparation for people age 60 or older and, like the VITA program, is funded in part by grants from the IRS. You can find a Tax Counseling for the Elderly location by calling, toll-free, 1-888-227-7669.
• Tax-Aide from AARP provides free tax preparation for people and are operated very similarly to the VITA and Tax Counseling for the Elderly. You can find a local Tax-Aide site by calling, toll-free, 1-888-227-7669 or by visiting AARP.org.

Before visiting one of these free tax preparation programs, you may want to call ahead to schedule an appointment. Also, be sure to bring your tax documents with you, along with your Social Security card and a driver s license or other form of identification. The volunteers at these sites will ask you to fill out a two-page questionnaire called Form 13614-C, which you can download from the IRS.gov Web site and fill out ahead of time.

### Free Tax Problem Resolution Services

If you need assistance in dealing with the IRS, setting up payment arrangements for an outstanding tax debt, or dealing with an audit, or understanding letters you received from the IRS, you can seek free or low-cost assistance from the following programs.

Low-Income Tax Clinics provide free or low-cost assistance to taxpayers who need help resolve tax problems such as income tax audits and resolving collection disputes over outstanding tax balances. Tax Clinics can also provide you with legal representation if you need to go to Tax Court to resolve your problems. Tax Clinics also provide assistance to people whose primary language is other than English. Tax Clinics are operated by local non-profits, universities and law schools. They receive some funding from the IRS and are supervised by the National Taxpayer Advocate, and the program is designed to help people and families with income that does not exceed 250% of federal poverty guidelines. There s a directory of Tax Clinics on the IRS.gov Web site.

Taxpayer Assistance Centers at local IRS offices also provide free assistance in setting up payment plans, understanding letters from the IRS, and resolving tax problems.

The Taxpayer Advocate Service can help you resolve tax problems if you ve been unable to resolve your problems by dealing directly with the IRS. The Taxpayer Advocate is an independent organization from the IRS and reports directly to Congress. I ve personally found the Taxpayer Advocate Service to be very helpful in resolving problems. You can call them toll-free at 1-877-777-4778.

by ,

# free income tax preparation

BFNC Free Tax Preparation

## What to Bring

You must bring the following items to your tax appointment:

## Why VITA?

We’re trained and certified by the IRS. That means that we’ve had to go through rigorous training and extensive testing to make sure that we know how to prepare your tax return correctly.

We’re fast. Did you know that when you pay for a rapid refund, you’re actually taking out a loan? And sometimes, those loans will charge you up to \$400 in interest, in addition to the up-front fees! If you file electronically through VITA, you will securely receive your refund in your bank account in 7 to 10 days. And it will cost you NOTHING! Don’t have a bank account? No problem! We have access to other programs that will get your refund to you securely and quickly at NO COST to you.

We’re FREE. We provide a free alternative to those other places that will charge you a high fee to get your refund. Why pay for your tax prep when we’ll do it for free? Surely, you can think of better ways to spend your hard-earned money than on a tax preparer whose only real concern is getting the highest fee possible from you.

We provide access to resources that will help you build wealth, get out of debt, and find financial stability. We’ll help you plug in to resources such as Utah Saves, Individual Development Accounts, low-cost checking and savings accounts, and more. We won’t sell you anything — just give you the information you need to make good decisions for your financial future.

by ,

# Individuals

## Good news!

We’ve joined the Free File Alliance to offer you more options to e-file your New York State income tax return at no cost.

### I made \$64,000 or less in 2016

Follow these steps to get started:

1. Review the IRS guide How to get started and gather the documents and information you’ll need to file.
2. Check the qualifications (income, age, military experience, EITC eligibility, and so on) for each software provider to be sure you are eligible to use that product for free.
3. Select a product directly from this page if you access the software elsewhere, it may not be free of charge.

(Did you make more than \$64,000 in 2016? If yes, you don t qualify to use Free File software at no cost; however, you can still use the Free File software for a fee. See Other e-file options to learn more.)

Note: To avoid being charged a fee, confirm your federal adjusted gross income before you select a software provider.

You qualify to use this software provider at no cost if:

• your federal Adjusted Gross Income (AGI) was \$33,000 or less; or
• your federal AGI was \$64,000 or less and you served as Active Duty Military (including Reservists and National Guard); or
• you qualify for the earned income tax credit (EITC).

You must access the TurboTax Free File website from this page, otherwise, you may be charged a fee. Note: If you meet the above qualifications and are still charged a fee, please contact the vendor directly.

You qualify to use this software provider at no cost, if:

• your federal Adjusted Gross Income (AGI) was between \$13,000 and \$64,000 regardless of age; or
• your federal AGI was \$64,000 or less and you served as Active Duty Military (including Reservists and National Guard).

You must access the OLT Free File website from this page, otherwise, you may be charged a fee. Note: If you meet the above qualifications and are still charged a fee, please contact the vendor directly.

You qualify to use this software provider at no cost if:

• your federal Adjusted Gross Income (AGI) was \$52,000 or less and you are age 56 or younger; or
• your federal FAGI was \$64,000 or less and you served as Active Duty Military (including Reservists and National Guard); or
• you qualify for the earned income tax credit (EITC).

You must access the TaxAct Free File website from this page, otherwise, you may be charged a fee. Note: If you meet the above qualifications and are still charged a fee, please contact the vendor directly.

You qualify to use this software provider at no cost if:

• your federal Adjusted Gross Income (AGI) was less than \$51,000 and your age was 17 through 60 as of December 31, 2016; or
• your federal AGI was less than \$64,000 and you served as Active Duty Military (including Reservists and National Guard).

You must access the FreeTaxUSA Free File website from this page, otherwise, you may be charged a fee. (If you are charged a fee, stop and email FreeTaxUSA at [email protected])

You qualify to use this software provider at no cost if:

• your federal Adjusted Gross Income (AGI) was \$64,000 or less and your age was 17 through 50 as of December 31, 2016; or
• you qualify for the earned income tax credit (EITC).

You must access the H ?>

by ,

# Free Tax Preparation and eFiling: eFile Federal Edition

eFile is pleased to continue offering easy online tax filing with the eFile FREE Federal Edition tax service – Free File. No tax forms to choose–simply follow the easy online tax interview, then click efile and you are done. Learn more details about eFile Free Federal Edition below:

You qualify for eFile Federal Edition – Free File if:

• Your filing status is either: single or married filing jointly.
• Your total taxable income is below \$100,000.
• Your income only comes from: wages, salaries, unemployment, tips, taxable scholarship and fellowship grants, taxable interest of \$1,500 or less, or Alaska Permanent Fund dividends.
• You do not claim any dependents.
• You do not itemize deductions.
• You do not claim any additional standard deductions (e.g. property tax or new car tax).
• You do not claim tax credits other than the Earned Income Credit and Making Work Pay Credit.
• If married filing jointly, both you and your spouse are under 65 and not blind.
• You do not owe any Household Employment taxes (on wages paid to a household employee).
• You are not involved as a debtor in a Chapter 11 bankruptcy filing.

eFile Federal Edition – Free File tax services include:

• Simple Federal Tax Income Return (1040EZ).
• Enter Multiple W-2s from various jobs.
• Selects the right tax forms for you.
• Checks for errors during the tax interview and brings up tax audit alerts.
• Prepare, efile, and print your tax return.
• Fast, free direct bank deposit of tax refund.
• Get your tax refund via check in the mail.
• You can start your eFile tax return, stop at anytime, and return to finish later. eFile will remember where you left off and the next time you sign in, you can continue from your last stopping point.
• Access many help features and get fast online support.
• During eFile Federal Edition you can automatically upgrade to the eFile Premium version.
• There are no hidden fees.

Estimate Your Tax Return with Our FREE 2017 Tax Calculator

If you are not sure if you qualify for eFile Free Federal Edition, start your tax return using eFile Federal Edition and make sure you answer all the simple questions. During the eFile tax preparation interview and based on your tax answers you will get a notice with a recommendation to upgrade to the eFile Premium Edition.

Multiple State Tax Returns:

All Federal Edition online tax services are free except the State Tax Return service, which is available for an additional fee of \$ 29.95 only \$19.95. This means that you can prepare and efile as many State Tax Returns as you need to for one low price of only \$19.95 for all State Returns, not each! No Credit Card needed; have your State Tax Return fee deducted from your refund.

## No Credit Card Needed – Deduct Fee From Refund (DFFR) with e-collect

You can deduct any fees on efile.com from your anticipated tax refund, thus, you will not need a credit card. During checkout simply select the e-Collect – Deduct Fee from Refund or DFFR option. You will need a bank account and select the direct bank deposit option.

How Does e-Collect or Deduct Fee from Refund Work?

If you used e-Collect for your tax refund management, you can check your tax refund status with EPS Financial using this link: Check your e-collect Tax Refund Status. Be prepared to provide your Social Security Number, zip code, and the answer to the security question you chose while registering for e-Collect (see the sample screen above) .

This feature of the efile tax service allows you to start an online tax return for free. At any time you can Stop n Go: stop and save your information, then go watch a movie or run errands and come back later. After you have signed back in, eFile will remember where you left off and you can continue from there.

The preferred tax payer choice: eFile Premium Edition (for every tax return situation from home mortgage payers to business owners).

## Preparing and Filing State Returns

For your convenience, and to reduce errors, we recommend you efile your state tax return when you efile your federal income tax return online. However, if you have already filed your federal return elsewhere, you can efile only your state return on efile.com.

Why efile.com

Biggest, Fastest Tax Refund

Dare to Compare

Free Basic – Form 1040EZ is FREE

No credit card needed. Deduct fee from refund.

Unlimited State Returns for only \$19.95

Learn about state return preparation” data-toggle=”popover” href=”javascript:void(0)” rel=”popover” id=”rightPrices”>Lowest Price Guarantee

# Official Income Tax Software – Free Download, free income tax.#Free #income #tax

by ,

With the govt having mandated compulsory e-filing of income tax returns of all assesses with Income over Rs. 5 Lakhs pa, manual filing of income tax returns has reduced drastically as a huge portion of the taxpayers would now be filing their income tax returns online.

For filing income tax returns online, an income tax software is required in which all details pertaining to the income earned would be furnished and on furnishing the income details, the tax would be automatically calculated by the Income Tax Return filing Software as per the Slab Rates. The Income Tax Return filing software will ensure that the return is complete in all aspects and it would then be uploaded on the income tax website.

To promote and encourage the taxpayers to file their income tax returns online, the Central Board of Direct Taxes has released a free Java based income tax software which can be downloaded for free from the income tax website. This Java based software is updated by the govt for every financial year to incorporate any changes in tax laws.

Contrary to public opinion, this free income tax software is complete in all respects and is one of the best income tax software available in the market. Different software have been created for different types of income tax return (Eg: ITR 1, ITR 2 etc) and this income tax return software can be downloaded for free from the Income Tax Website.

## Income Tax Software of private vendors

Several private vendors have also created their own income tax software. These softwares are legally authenticated by the Govt. and can perform all functions which the govt income tax java utility can perform.

These private software are useful in case of you are filing complex income tax returns like those of big businesses. But such private income tax return filing software s are not free and you have to purchase them by paying a yearly/ one time fee.

So in case you are filing returns of individuals or small businesses, it is beneficial to use the free excel utility of the govt and in case you are filing complex returns of big businesses, it is beneficial to use the income tax software of private vendors.

Karan is CA by Qualification with the rare distinction of being awarded All India Rank 22. He is also the founder of this website and loves to help people with their Tax Queries.

by ,

# Fixed Income

## Find A Fund

### Performance and Morningstar Ratings Documents

Equity & Fixed Income Funds

Money Market Funds

SEC Yield w/ Waivers

Performance quoted represents past performance and does not guarantee future results. Investment return will fluctuate. Shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here. The current yield more closely reflects the current earnings of the Fund than the total return. Performance would have been lower in the absence of fee waivers in effect. Select a Fund to view the most recent month-end performance information.

Performance quoted represents past performance and does not guarantee future results. Investment return will fluctuate. Shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here. The current yield more closely reflects the current earnings of the Fund than the total return. Performance would have been lower in the absence of fee waivers in effect. Select a Fund to view the most recent month-end performance information.

Performance quoted represents past performance and does not guarantee future results. Investment return will fluctuate. Shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here. The current yield more closely reflects the current earnings of the Fund than the total return. Performance would have been lower in the absence of fee waivers in effect. Select a Fund to view the most recent month-end performance information.

Not FDIC insured | May lose value | No bank guarantee

An investment in Northern Funds involves risks, including possible loss of principal.

Please carefully read the summary prospectus or prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds before investing. Call 800-595-9111 to obtain a summary prospectus or prospectus. The summary prospectus and prospectus contain this and other information about the Funds.

Shares of the Northern Funds are offered only by a current Prospectus and are intended solely for persons to whom shares of US registered funds may be sold. This site shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of shares of the Northern Funds in any jurisdiction in which such offer, solicitation or sale would be unlawful.

2017 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.