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Frequently Asked Questions

General

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Taxes


What's the procedure for filing my tax return online?

  1. Create an account by providing the information requested on the registration page.
  2. Complete your personal information by answering the questions regarding yourself, your spouse (if applicable) and your dependents.
  3. Fill in the appropriate forms in the income, adjustment and credit sections of your Federal information.
  4. Finalize the Federal return by providing your bank information (if desired) and signature
  5. Review/print your return
  6. Select payment options from your shopping cart
  7. Submit your return for transmission to the IRS.
  8. Log on to your account within 24-48 hours to check the status of your filing

The program will walk you through each step in a way that's simple and easy to understand.


Can I start my return and finish later?

Yes. You can come back and work on your online tax return as many times as you want. You will have to remember your user name and password to get back into your account.


Is all of my personal information secure and private?

Yes, your personal information is completely confidential and will only be used to file your tax return. We use a secure server with SSL encryption to securely transmit your information.


What tax forms does Online Tax Pros support?

  • 1040 (includes calculations for 1040EZ and 1040A filers)
  • Schedule A
  • Schedule B
  • Schedule C
  • Schedule D
  • Schedule E
  • Schedule EIC
  • Schedule F
  • Schedule L
  • Schedule M
  • Schedule R
  • Schedule SE
  • Form 982 - Reduction of Tax Attributes Due to Discharge of Indebtedness
  • Form 1310 - Statement of Person Claiming Refund Due a Deceased Taxpayer
  • Form 2106 - Employee Business Expenses
  • Form 2441 - Child and Dependent Care Credit
  • Form 3903 - Moving Expenses
  • Form 4137 - Social Security and Medicare Tax on Unreported Tip Income
  • Form 4562 - Depreciation and Amortization
  • Form 4684 - Casualties and Thefts
  • Form 4868 - Application for Automatic Extension of Time to File U.S. Individual Income Tax Return
  • Form 5329 - Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts (Part I only)
  • Form 5405 - First-Time Homebuyer Credit
  • Form 5695 - Residential Energy Credits
  • Form 6251 - Alternative Minimum Tax - Individuals
  • Form 8283 - Noncash Charitable Contribution
  • Form 8606 - Nondeductible IRAs
  • Form 8812 - Additional Child Tax Credit
  • Form 8829 - Expenses for Business Use of Your Home
  • Form 8862 - Information to Claim Earned Income Credit After Disallowance
  • Form 8863 - Education Credits (American Opportunity and Lifetime Learning)
  • Form 8880 - Credit for Qualified Retirement Savings Contributions
  • Form 8888 - Direct Deposit of Refund to More Than One Account
  • Form 8889 - Health Savings Accounts (HSAs)
  • Form 8917 - Tuition and Fees Deduction


What types of income does Online Tax Pros support?

  • W-2
  • W-2G
  • 1099B
  • 1099C
  • 1099DIV
  • 1099G
  • 1099INT
  • 1099MISC
  • 1099PATR
  • 1099R
  • SSA1099
  • RRB 1099
  • Unreported Tips
  • Schedule B - Interest and Ordinary Dividends
  • Schedule C - Business income/loss
  • Schedule D - Capital Gains and Losses
  • Schedule E - Supplemental income/loss
  • Schedule F - Farm Income/Loss
  • Other Income (Alimony, Qualified State Tuition Program Earnings, Jury duty, etc.)

What types of adjustments does Online Tax Pros support?

  • Educator expenses
  • Certain business expenses of reservists, performing artists, and fee-basis government officials
  • Moving expenses
  • Health Savings Accounts
  • Self-employment tax deduction
  • Self-employed, SEP, SIMPLE, and qualified plans
  • Self-employed health insurance deduction
  • Penalty on early withdrawal of savings deduction
  • Alimony paid
  • IRA deductions
  • Student loan interest deductions
  • Tuition and fees deduction

Why round off to whole dollars?

You must round off cents to whole dollars on your return. To round, for amounts under 50 cents, decrease to the lower dollar value. For amounts from 50 to 99 cents, increase to the higher dollar value. For example, $1.39 becomes $1 and $2.50 becomes $3.

If you have to add two or more amounts to figure the value to enter on a line, include cents when adding the amounts and round off only the total.


Do you accept credit cards?

Yes. We accept Visa, Master Card and American Express.


How can I contact the IRS?

Live telephone assistance is available from the IRS by calling 1-800-829-1040 (toll free). For alternate IRS contact options, please visit the following link: www.irs.gov/contact/index.html.

People with hearing impairments can contact the IRS at 1-800-829-4059 (TDD). (Hours of Operation 7:00 a.m. to 10:00 p.m. Monday - Friday).


How can I contact Online Tax Pros?

You can reach us via mail at the following address:
1611 East Main Street, Russellville, AR 72801 Or you can contact us via E-mail: support@onlinetaxpros.com


The .pdf or .fdf file won't open so I can print a copy of my online tax return.

FDF stands for Forms Data Format. We create a file containing form data only from a PDF file. This new FDF file is smaller than the original PDF file and is useful for electronically sharing the data.

If you are having trouble viewing the pdf forms, make sure you have the latest version of Adobe Acrobat Reader® AND that you have the latest root certificates update from Microsoft®.

In the Web browser, you should go to: Tools --> Internet Options --> Advanced Tab --> scroll down to Security Settings and uncheck the "Do not save encrypted pages to disk" box.

You might also try updating your root certificate via the Windows Update



I have lost/forgotten my password.

To recover your password go to: Recover Your Password and follow the instructions.

The e-mail address you enter must be the same e-mail address entered when you created your account.


Who do I contact for technical support?

Send an e-mail to support@onlinetaxpros.com


Where's my refund?

You may check the IRS website to find out about your refund online at Where's My Refund?or by calling 1-800-829-4477. Taxpayers should wait at least three weeks from the time the electronic return data is acknowledged as accepted by the IRS before checking the status of a refund.

To get your refund status, you will need to provide the following information as shown on your income tax return:

  • Your Social Security Number (or IRS Individual Taxpayer Identification Number)
  • Your Filing Status, (Single, Married filing jointly, Married filing separately, Head of household, or Qualifying widow(er))
  • The Refund amount (It is important to enter the refund amount exactly as it is shown on your return in order for the IRS's computer system to retrieve your data)

You can also use the Refund Cycle Chart to view the expected date of Direct Deposit or when the IRS expects to mail a paper check. You will need to know the approximate date the income tax return was accepted by the IRS.

*The IRS does not guarantee a specific date that a refund will be deposited into a taxpayer's financial institution or mailed.


When should I file?

Not later than April 15, 2010. However, you can get an automatic 4-month extension if, no later than April 15, 2010, you either file for an extension by phone or you file Form 4868.

NOTE: An automatic 4-month extension to file does NOT extend the time to pay your taxes. Any money you owe the government is still due by April 15, 2010.

If you are a U.S. citizen or resident, you may qualify for an automatic extension of time to file without filing Form 4868 or filing for an extension by phone. You qualify if, on the due date of your return, you meet one of the following conditions:

  • You live outside the United States and Puerto Rico and your main place of business or post of duty is outside the United States and Puerto Rico .
  • You are in the military on duty outside the United States and Puerto Rico.

This extension gives you an extra 2 months to file and pay the tax, but interest will be charged from the original due date of the return on any unpaid tax. You must attach a statement to your return showing that you meet the requirements.


What if I file late or pay late?

The IRS can charge you interest and penalties on the amount you owe.

If you file late, the penalty is usually 5% of the amount due for each month or part of a month your return is late, unless you have a reasonable explanation. If you do, attach it to your return. The penalty can be as much as 25% (more in some cases) of the tax due. The IRS will charge penalties and interest from the due date of the return (including extensions). If your return is more than 60 days late, the minimum penalty will be $100 or the amount of any tax you owe, whichever is smaller.

If you pay your taxes late, the penalty is usually ½ of 1% of the unpaid amount for each month or part of a month the tax is not paid. The penalty can be as much as 25% of the unpaid amount. It applies to any unpaid tax on the return.


How will I know if the IRS has accepted my online tax return after I have e-filed?

You can login to your account to make sure that the IRS has accepted your e-filed tax return. Generally, the IRS accepts the online tax return in one to two days.


My return was accepted by the IRS. Now what?

If your return was accepted, it means that the IRS looked at all the information, and the return appears to be correct. An acceptance means that your return has been filed with the IRS.


My return was rejected by the IRS. Now what?

First, don't let the term rejected scare you. This simply means that you haven't given the IRS correct information. The errors that need to be corrected will be listed on the main page after you logon to your account. Go into your tax return and correct the error and resend to the IRS.


It’s been more than three days since I filed my tax return. Why haven’t I heard anything from the IRS?

To contact us, send an e-mail to support@onlinetaxpros.com


What forms will I mail to the IRS?

Because your forms are transmitted electronically as you have entered them in the program, you usually do not have to mail the IRS any forms.


What Is the EIC?

EIC is a credit for working taxpayers whose earnings or AGI fall within a specific range depending on their filing status and number of dependents. The program will automatically calculate the credit for you based on your personal and income information.


What is the Lifetime Learning Credit?

The Lifetime Learning Credit can be used for undergraduate, graduate and professional degree courses for anyone. There is no limit on the number of tax years for which the Lifetime Learning credit can be claimed for each student. You are allowed a Lifetime Learning Credit of 20% of the first $10,000 you paid for qualified tuition and related expenses for yourself, your spouse, or your dependent for whom you claim an exemption.


What is a deduction?

A deduction reduces your taxable income which may reduce your final tax bill. It is an expenditure that may legally be used to reduce an individual's income-tax liability.


I received dividends from my credit union. How do I report this income?

Certain distributions commonly referred to as dividends are actually interest. Report interest income on Form 1099INT in the income section of your Federal information.


What is the Presidential Election Campaign?

This fund helps pay for Presidential election campaigns. The fund reduces candidates dependence on large contributions from individuals and groups and places candidates on an equal financial footing in the general election. If you want $3 to go to this fund, check the " Yes " box. If you are filing a joint return, your spouse may also have $3 go to the fund. If you check "Yes," your tax or refund will not change.