January 18, 2012 5:49 pm

Prepare and File Your Federal Return for Free

The IRS’s Free File program (www.irs.gov/efile/article/0,,id=118986,00.html) for 2011 returns is now in full swing. If your adjusted gross income for 2011 was less than $57,000, you can choose from a variety of commercial products that help you prepare and file your federal income tax return at no cost. You can also use Free File Fillable Forms (https://www.freefilefillableforms.com/FFA/Gateway/FED.htm) from the IRS to complete your return and submit it, although this option is best for those who are comfortable preparing their own tax returns and need to perform only basic calculations.

Source: http://www.irs.gov/efile/article/0,,id=118986,00.html

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Tax Glossary

Tenants in common

Two or more persons who have undivided ownership rights in property. Upon death of a tenant, his or her share passes to his or her estate, rather than to the surviving tenants.

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