Q. What's the difference between e-File and Free File when I file my taxes? I thought all e-filing was free.

A. E-File allows you to submit federal tax returns over the Internet. This system is secure, easily detects errors, eliminates paper waste and postage, and sends your refund quicker.

Free File is a form of e-file that partners the IRS with participating online tax companies, eliminating e-filing fees for those who make under $54,000 a year. Since 2003, 19.2 million tax returns have been filed this way. Rules vary by company, so be sure to check eligibility requirements before you start. Always access their services through irs.gov to avoid phony companies and potential fees.

As with any form of tax return, don't wait until the last day (April 15th) to file. The process can be time consuming, especially if you're a first time e-filer. For more information on e-filing and other ways to file your taxes, go to irs.gov.

Q. I've heard a lot about loan scams lately. How can I tell if a loan is legit?

A. Follow this simple rule: If it sounds too good to be true, it probably is. Loan scams may…

• offer guaranteed approval in exchange for an advance fee.
• ask for personal information, including your Social Security number, which they use to commit identity theft.
• claim they are affiliated with a reputable company. Don't trust anyone who asks you to send money to a foreign location, or through a third party, such as a money transfer service.
• Protect yourself
• Apply for loans in person or on an official, secure website (look for the padlock at the bottom right corner of your browser).
• Be extra careful with personal information, such as your Social Security number, and share it only with trusted companies and only over a secure connection when on the Internet.

Editor's Note: When answering your questions, brass consults with experienced professionals from a wide spectrum of industries. We utilize their expertise to give you the answers you need, but it's always wise to seek additional opinions from other professionals.

Sources: directlendingsolutions.com; fdic.gov; fortworth.bbb.org; consumerreports.org; cnet.com; irs.gov; fool.com