Internet Can Make Filing Your Taxes EZer
Dreading filing your tax return just because you hate to grapple with math and those miserable Internal Revenue Service forms? If you have a computer with Internet access and a simple return--no itemized deductions nor dependents--there may be an easy way out.
Intuit Inc., the makers of Quicken and TurboTax software, is launching a service on its Web site that will allow consumers to complete a 1040EZ form online for free. The completed forms are IRS-approved, so you can hit “print,” sign the resulting product and send it in. No cost; no obligation.
But, if you want Intuit to electronically file the return for you--electronic filing is supposed to speed refunds, if you’ve got one coming--there’s a $9.95 fee.
How does it work? According to Intuit, you visit the Web site at https://www.qfn.com/taxcenter and click on the 1040EZ prompt. You’ll then download a file onto your computer, and the program will walk you through filling out the form. The site, which goes live Feb. 1, was not available for early reviewing. However, Intuit says it guarantees that TurboTax 1040EZ calculations the file uses are accurate.
If you get assessed an IRS penalty because of a calculation error, they’ll pay the penalty plus interest, the company says. Not bad for a free service.
Meanwhile, the Vanguard Group, a Valley Forge, Pa.-mutual fund company, has also added tax information to its Web site at https://www.vanguard.com. If you have Vanguard funds, you can click a few buttons and get a recap of your year-end income, dividend and capital gains distributions.
Those who don’t have Vanguard funds, but do own other mutual funds, might want to download Vanguard’s booklet, “Taxes and Mutual Funds.”
Or check out the other tax resources on the Web. Vanguard has cobbled together a listing--and links--to other sites that offer tax guides and tax-preparation software.
Tonka Toy Recall: Tonka Corp. is recalling about 1 million Soft Walkin’ Wheels toy cars with serial numbers lower than 9528 or no serial number at all. The company has received about 40 reports of wheel hubs separating from the toy when small children chew on them. Although no children have been injured, the company is recalling the toy because it is concerned about choking hazards.
Soft Walkin’ Wheels are nylon-covered, battery-powered vehicles--there’s a dump truck, school bus, airplane, train and fire truck--that retail for about $15. Serial numbers are printed in blue ink on the sewn label located near the back of the toy.
Tonka advises parents to take the toys away from children immediately. Consumers can return the toys to the store where they were purchased for a free replacement or refund. Or you can call Tonka at (800) 524-8107.
Regulation Reference Goes Online: Need a copy of a government rule or an analysis of what a new law means? If you’ve got Internet access, finding laws and regulations just became vastly easier. The Heritage Foundation, a conservative Washington-based think tank, has launched a new Web site at https://www.regulation.org that’s designed to be a comprehensive source of federal regulatory studies, statistics and information.
The site is divided into segments, including those that get you information on utility reform, telecommunications rules--including information and analysis about the 1996 telecommunications law--banking, environment, workplace mandates, land reform and general regulatory facts and figures.
Free Retirement Kit: Are you retiring within five years, or are already retired, and still uncertain about how complex government programs, including Medicare and Social Security, will affect you--particularly if you work after retirement? T. Rowe Price, a Baltimore-based mutual fund company, has a free “Retirees Financial Guide” to help. The guide includes work sheets to determine the taxability of your Social Security income, information about ways to handle your pension income and investing options. It can be ordered by calling T. Rowe Price at (800) 541-8460.
Consumer Checklist is a weekly feature that covers a range of pocketbook issues of interest to Californians. To contribute information about new legislation, free products, services or surveys, write to Kathy M. Kristof, Business Section, Los Angeles Times, Times Mirror Square, Los Angeles, CA 90053; or e-mail kathy.kristof@latimes.com
