Whois & Analysis for olt.com

E-file is a system for submitting tax documents to the US Internal Revenue Service through the Internet or direct connection, usually without the need to submit any paper documents.

Tax preparation software with e-filing capabilities includes stand-alone programs or websites.

Tax professionals use tax preparation software from major software vendors for commercial use.

Most individual U.S. states collect a state income tax in addition to federal income tax.

The two are separate entities.

Some local governments also impose an income tax, often based on state income tax calculations.

Forty-three states and many localities in the United States may impose an income tax on individuals.

Forty-seven states and many localities impose a tax on the income of corporations.

In the United States, a tax is imposed on income by the federal government, most state governments, and many local governments.

The income tax is determined by applying a tax rate, which may increase as income increases, to taxable income as defined.

Individuals and corporations are directly taxable, and estates and trusts may be taxable on undistributed income.

IRS tax forms are used for taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service (IRS) of the United States.

They are used to report income, calculate taxes to be paid to the federal government, and disclose other information as required by the Internal Revenue Code (IRC).

There are over 800 various forms and schedules.

Other tax forms in the United States are filed with state and local governments.

Tax preparation is the process of preparing tax returns, often income tax returns, often for a person other than the taxpayer, and generally for compensation.

Tax preparation may be done by the taxpayer with or without the help of tax preparation software and online services.

Tax preparation may also be done by a licensed professional such as an attorney, certified public accountant or enrolled agent, or by an unlicensed tax preparation business.

Because United States income tax laws are considered to be complicated, many taxpayers seek outside assistance with taxes (59.2% of individual tax returns in 2007 were filed by paid preparers).

The remainder of this article describes tax preparation by someone other than the taxpayer.