Filing your federal tax return should not be hard or stressful. At Akron Income Tax Co., we help people in Akron, Ohio, file their taxes the right way. Since 1982, we have worked with families, students, and small business owners to file correctly and get the biggest refund possible.
Federal Tax Return | A Beginner’s Guide
Are you dreading the idea of preparing your federal tax return? Relax, we’re here to help. Basic Filing for just $130. This comprehensive guide will take you through everything you need to know to file your taxes correctly. From what forms to fill out to what deductions and credits are available to you, we’ll cover it all. So, sit down with a cup of coffee (or tea), and let’s get started.
What Is a Federal Tax Return?
A federal tax return is a form taxpayers file with the Internal Revenue Service (IRS) to report their annual income and calculate their tax liability. The IRS uses this information to determine whether a taxpayer owes taxes or is due for a refund.
There are two types of federal tax returns: individual and business. Individual taxpayers use Form 1040 to file their personal tax returns, while businesses use Form 1120 to file their business taxes.
Mark Your Calendar Date
The first step in preparing your federal tax return is to mark your calendar. The IRS typically begins accepting tax returns in late January or early February, and the deadline for filing is April 15th. If you need more time to file, you can request an extension from the IRS, but you will still need to pay any taxes owed by the April deadline.
Know Your Income Tax Forms
The next step is to know which forms you need to complete your federal tax return. The most common form used for individual taxpayers is the 1040 tax form. This form is used to report your income, deductions, and credits. You may also need to use additional forms depending on your specific tax situation.
What Information Do You Need to File a Federal Tax Return?
Individual taxpayers need to provide their Social Security number, date of birth, and contact information on their tax return. They will also need to report their income from all sources, including wages, interest, dividends, and capital gains. In addition, taxpayers will need to report any deductions or credits they are claiming on their return.
Businesses will need to provide their Employer Identification Number (EIN) and their business income and expenses. They will also need to report any deductions or credits they are claiming on their return.
Analyze Your Income Tax Return Options
There are three primary methods for filing a federal return: online, using software, or professional help. Each option has its pros and cons, so it’s essential to understand the differences before deciding which is suitable for you.
Filing Taxes Online
The IRS offers free online filing for taxpayers with simple tax situations. This option is best for those who are comfortable preparing their taxes and do not need any assistance. Beware that if you miss a deduction, it can cost you big money. We have the ability to file your taxes online with our remote file@home option. Taxpayers who choose to file online can do so through the IRS website or a third-party provider.
- Free for taxpayers with simple tax situations
- It can be done from the comfort of your own home
- Can be completed relatively quickly
- It may not be suitable for those with more complex tax situations
- It can be confusing for first-time filers
- If you make a mistake, it can be time-consuming to fix
Utilizing Tax Preparation Software
Tax software is a popular option for taxpayers who want a little more help than what’s offered through online filing but don’t need the assistance of a professional. Tax software walks users step-by-step through the tax preparation process and can provide tips and guidance on how to maximize deductions and credits on earned income tax credit. Some popular tax software options include TurboTax, H&R Block, and TaxACT. Watch out for bait and switch tactics used by some of these providers. They quote a fee on the website and then slam you when you are 80-90% down when you need a little assistance. Get a firm quote before you waste your time/
- More affordable than professional help
- Walking you through the process step-by-step can make tax preparation less daunting.
- If you have a more complex tax situation, you really need professional help.
- Some online tax software can be challenging to use
- It’s easy to make mistakes if you don’t follow the instructions carefully
- Missed deduction or credits can reduce your refund
Getting Professional Help
For taxpayers with complex tax situations or those who want someone else to handle their federal income tax return, professional help is available. Taxpayers can work with a certified public accountant (CPA), enrolled agent (EA), or tax attorney. Find a tax preparer near you.
- You can have peace of mind knowing your taxes are being handled by a professional
- CPAs and EAs are always up-to-date on tax law changes, so you can be confident they’re doing your taxes correctly.
- It can save you time and hassle.
- It can be a little more expensive than other options
- Filing 1099-K for selling personal items
No matter which option you choose, be sure to do your research and understand the pros and cons before deciding. The best tax preparation method for you will depend on your circumstances. If you have a complex tax situation, it may be worth hiring a professional to ensure that your return is filed correctly.
Why Choose Akron Income Tax Co.
Experienced Tax Preparers
Our preparers have filed taxes for more than 40 years. We keep up with every IRS change and make sure your forms are 100% accurate.
Free First Consultation
We offer a free first meeting to talk about your needs and answer your questions. You’ll get clear advice before you decide.
Affordable Prices
Most individual returns cost $130, and business or rental filings start at $220. There are no hidden costs.
Fast E-Filing and Direct Deposit
We e-file your federal tax return directly to the IRS. Most refunds arrive within 21 days when using direct deposit.
Continued Support
If the IRS contacts you, we’ll help you understand the notice and respond properly. You don’t have to handle it alone.
What’s Included in Our Tax Return Service
Our federal tax return service is designed to give you a clear, accurate, and stress-free filing experience. Each return is prepared by trained professionals who focus on accuracy, compliance, and helping you receive every credit and deduction available.
Here’s what’s included:
Complete Tax Return Preparation
Your federal tax return is fully prepared, reviewed, and electronically filed at no extra cost, ensuring fast and secure processing.
Accurate, Professional Review
We check income forms, deductions, and credits to make sure your return is complete and meets all IRS requirements.
Credit and Deduction Optimization
We look for every eligible opportunity, including education credits, child tax benefits, retirement savings credits, and more.
Fast Turnaround
Most federal tax returns are completed the same day or next day once your documents are ready.
Flexible Filing Options
Choose in-office appointments, drop-off service, or secure online document upload for maximum convenience.
Support After Filing
If you receive an IRS notice related to your federal tax return, we’ll help you understand it and prepare a proper response.
What’s not included:
Returns involving business income, rental activity, or investment sales may require additional fees. You will always receive a clear upfront estimate before we begin.
Who We Serve
We help taxpayers across Akron, Summit County, and nearby communities with reliable and personalized federal tax return assistance tailored to their financial needs.
Individuals and Families
Accurate and affordable federal tax return preparation for households, including dependents, credits, and annual income reporting.
Students and Retirees
Students receive guidance on education-related tax benefits, while retirees get help filing pension, Social Security, and retirement income correctly.
Self-Employed and Small Business Owners
We assist freelancers, contractors, and small business owners with federal tax return filing, income reporting, and expense organization.
Communities Across Summit County
We serve Barberton, Cuyahoga Falls, Fairlawn, Tallmadge, and surrounding areas seeking dependable federal tax return support.
Get Maximum Federal Tax Refund by using all legal deductions.
If you want to get the maximum federal tax refund possible, you should consider using Akron Income Tax Co. We are a professional tax preparation company that can help you prepare your tax by ensuring that you take advantage of all the deductions and credits you are eligible for to lower your taxable income.
Also, we can help you file your taxes electronically, which can speed up the process and get your refund to you much faster.
The perks of using our services include:
Experienced Tax Professionals
When it comes to taxes, you want to make sure that you work with someone who knows what they are doing. All tax preparers at Akron Income Tax Co are experienced professionals. This means that we have the knowledge and skills necessary to help you get the maximum refund possible.
Free Initial Consultation
We offer a free initial consultation so that you can learn more about our services and how we can help you find the deductions you deserve. This is a great opportunity to ask any questions you may have and get to know us better.
Affordable Tax Prep Rates
Our rates are very competitive, and we offer a variety of payment options to choose the one that is best for you. Our Basic fee is $130 for a simple form.
Fast And Easy IRS Tax Refunds
We can help you with electronic filing, speeding up the process and getting your refund to you much faster. We also offer direct deposit to get your refund as soon as possible.
If you are looking for a reliable, affordable, and easy way to file your taxes and get the maximum refund possible, contact Akron Income Tax Co today. We would be more than happy to help you with all of your tax needs.
Get Started Now
If you’re looking for help filing your federal tax return, look no further than Akron Income Tax Co. Our tax experts are here to help you every step of the way, from start to finish. We’ll make sure that everything is filed correctly and on time so you can get your maximum refund. Contact us to get started today.
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