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Category: FAQ's
73 Articles
Orange arrow What are the advantages of e-file?

2005 views
  IRS e-file is more accurate (less than 1% error rate) than paper. There is also the added benefit of being able to instantly (in most cases) correct any error. The opportunity to file now and delay payment until April 15. Your federal and state returns may be filed together if you qualify. Your tax...
Orange arrow What do I have to claim if I sold my house?

1082 views
  If you sold or exchanged your main home, do not report it on your tax return unless your gain exceeds your exclusion amount. Generally, if you meet the two tests below, you can exclude up to $250,000 of gain. If both you and your spouse meet these tests and you file a joint return, you can exclude ...
Posted in: FAQ's

Orange arrow Can I pay the IRS the amount I owe with a credit card?

1840 views
  You may pay by phone or over the Internet through one of the service providers listed below (provided from the IRS). Official Payments Corporation 1-800-2PAY-TAX (1-800-272-9829) 1-877-754-4413 (Customer Service) www.officialpayments.com. Link2Gov Corporation 1-888-PAY-1040SM (1-888-729-1040) 1-8...
Orange arrow How to create 1040NR return

1828 views
  Here is the instructions to create 1040NR. Pay special attention to the item within the *** Please go to our homepage Click Start Now to create your OLT ONE Account. In STEP 1, select Username and password. Once you have created your account, proceed to select "Start my 2020 return". ***The scre...
Posted in: FAQ's

Orange arrow How do I use your software to complete and file my tax return?

3223 views
  You can create an account (start now) to do this years tax return by selecting a username and a password. Then, you must agree to our User Agreement. This starts an interview process that prompts you for the information needed to complete your tax return. Please print the username and password scre...
Orange arrow When will I get my refund?

2335 views
  The IRS issues more than 9 out of 10 refunds in less than 21 days with direct deposit. However, it’s possible your tax return may require additional review and take longer. The easiest way to check your refund status is by using the Where's My Refund link (https://www.irs.gov/refunds). It has...
Orange arrow What is the phone number for OLT?

2973 views
  Our phone number is : 1-888-658-4829 for OLT Self-Prepared Customers (toll free) 1-816-232-0095 for OLT Self-Prepared Customers. 1-877-658-4776 for OLTPRO Professional Tax Preparers (toll free) 1-816-232-9095 for OLTPRO Professional Tax Preparers. Phone support for the software only is ava...
Posted in: FAQ's

Orange arrow Do I need to mail anything in to the IRS?

1945 views
  Our website allows you to e-file your tax return. In most cases, this means that you will not be required to mail anything to the IRS. Exceptions to this include, but are not limited to: You owe money to the IRS and you did NOT choose to pay online when you filed the return - You will need to p...
Posted in: FAQ's

Orange arrow How can I file an amended return?

1929 views
  On-Line Taxes, Inc. offers FREE current year amended returns for current year customers. In other words, if you file with us this year and it was accepted but you then discover you need to amend the return. No problem, just log into your account and click on the File an Amended Return link given on...
Posted in: FAQ's

Orange arrow How do I enter a deduction for charitable contributions if I am not itemizing deductions on Schedule A?

824 views
  New for the 2020 tax return: If you don't itemize deductions on Schedule A (Form 1040), you (or you and your spouse if filing jointly) can take a charitable deduction of up to $300 for cash contributions made in 2020 to organizations that are religious, charitable, educational, scientific, or lite...
Orange arrow What is the Alternative Minimum Tax?

1831 views
  The tax law gives preferential treatment to some kinds of income and allows special deductions and credits for some kinds of expenses. Taxpayers who benefit from these provisions of the law may have to pay an additional tax called the alternative minimum tax. It is a separate tax computation that, ...
Posted in: FAQ's, Taxes

Orange arrow How do I know the IRS receives my return?

1888 views
  The IRS will notify our company that your return was received. Usually the IRS notifies us within 48 hours of transmission. We will send you an email with the status of your return and/or you can log back in to your account to check the status. With the new IRS MeF system, you can get this acknowl...
Orange arrow Payment Information

1348 views
  DO NOT enter withholdings from any income statements such as W2, 1099, etc. in the payments section. (This mistake would either cause your return to be rejected by the IRS or accepted and a letter later mailed to you stating you owe this money back along with penalty and interest amounts.) You must...
Orange arrow Can I file a return for another year electronically?

2765 views
  Prior year returns must be paper filed. The IRS only accepts current year returns through October 15 of each filing year for e-file. We now offer prior year return preparation for your convenience. From our homepage, click on "start now" to create an OLT ONE account (or sign in if you have an O...
Orange arrow Why am I getting so many emails?

2250 views
  Occasionally we must re-transmit a return through the automated system to the IRS. Every time we send a transmission, we get an acknowledgement from the IRS about the status of your return, because of this you could get extra accept/reject email messages. You can always get the current status of ...

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