TAX season is here once again and most people are trying to get a head start on it.
But that task is stressful and time-consuming and in some cases can even cost you money.
However, it doesn’t always have to be that way.
If you only need to file a simple tax return or meet specific income requirements, you can file your taxes for free.
The IRS has online programs for you to use but you can also use online tax software to get the job done.
Here are four ways you can file your taxes for free.
IRS FREE FILE
This is a free online service for filing taxes that was designed by the IRS.
It offers step-by-step tax preparation from the program’s partners for federal tax returns, however, you can also do some state filings as well.
Your adjusted gross income (AGI) must be $73,000 or less for you to qualify.
You’ll need your last year’s AGI, your Social Security number, and all the required tax forms to use the program.
Then, you’ll pick the software to use by either browsing all the available options or using the lookup tool that will find the best matches for you to use.
Then, you can start the program which will ask you simple questions and do the math for you.
About 70 percent of Americans were eligible to use IRS Free File last year but only two percent actually used it.
ONLINE TAX SOFTWARE
This is a very popular way to do taxes as these programs do a great job of simplifying the filing process.
Many of the programs also offer plans for you to choose from, including free versions of the software.
However, these will come with limited features but can still be a great tool for filing your taxes.
Services such as TurboTax, H&R Block, TaxSlayer, and Cash App Taxes – formerly known as Credit Karma Tax – are some of the amazing choices you can use.
If you qualify for an IRS volunteer-run program, you might be able to file your taxes free of charge.
One program is the Volunteer Income Tax Assistance program (VITA).
This program offers free, in-person tax return preparation to those who qualify, including taxpayers with an annual income of $60,000 or less, people with disabilities, and those with limited English.
You’ll need to visit a local office to use this program, meaning you’ll likely have to make an appointment.
The IRS provides a tool to find the nearest office but make sure to bring all of the required documents with you.
Another program is Tax Counseling for the Elderly (TCE) for taxpayers that are 60 years old or older.
This program was created with seniors in mind, focusing on pensions and retirement.
MILITARY MEMBERS AND FAMILIES
For those in the service, MilTax is an online service designed just for them, provided by Military OneSource.
Eligible members can use it to electronically file their federal tax returns for free as well as up to three state returns.
This is specifically for members of the military, veterans, and their families.
Accounts for situations such as deployment, combat and training pay, housing and rentals, are also used in this program.
April 18, 2023, is the deadline to file your taxes and it’ll be here sooner than you think.
If you were saving up on a professional preparer to file your taxes, just know that it’s not the only option available.
If you meet any of these requirements, consider one of these programs.