Everything You Need to Know About IRS Free File: File Your Taxes for Free!
Let’s face it, tax season can be a stressful time for many of us. But what if we told you there’s a way to make it less painful and virtually cost-free? Enter IRS Free File! If you’ve been searching for information on how to file your federal taxes for free, you’re in the right place. Here’s everything you need to know about IRS Free File, explained in a fun and easy way!
What is IRS Free File?
IRS Free File is a fantastic program that allows qualifying taxpayers to prepare and file their federal income tax returns online for free. This service is a public-private partnership between the IRS and several tax preparation software companies, aiming to make tax filing simple, secure, and free.
There are two main ways to use IRS Free File:
1. Guided Tax Software
This option is perfect for those who want a bit of guidance through the tax filing process. If your Adjusted Gross Income (AGI) is $79,000 or less, you’re eligible to use the free, guided tax preparation software provided by the IRS’s certified partners. The software asks you simple questions, performs accurate calculations, and even guarantees the math for you. Some partners also offer free state tax preparation and filing.
2. Free File Fillable Forms
If you’re a bit more tax-savvy and comfortable filling out the forms on your own, the Free File Fillable Forms option might be for you. This option provides electronic forms equivalent to the paper 1040 form, and it’s available for any income level. However, there’s minimal guidance, so you should be familiar with preparing your tax return.
How to Get Started
Ready to dive into the world of free tax filing? Here’s what you’ll need to get started:
- Copies of last year’s tax return to access your AGI
- Valid Social Security numbers for yourself, your spouse, and any dependents
- Income documents like W-2s, 1099 forms, and others
- Receipts for any deductible expenses
- A valid email address to receive notifications
Step-by-Step Guide to Using IRS Free File
Follow these steps to make the most of IRS Free File:
1. Choose Your Free File Option
Visit the official IRS Free File page and choose either the guided tax software or the fillable forms option.
2. Navigate to a Partner’s Site
You’ll be directed to one of the IRS’s partner sites to create a new account or log in to an existing one.
3. Prepare and E-File
Follow the instructions to prepare your federal tax return and e-file it. You’ll receive an email confirmation once the IRS has accepted your return.
Benefits of Using IRS Free File
1. Cost-Free Filing
If you qualify, you can prepare and file your federal return at no cost. Some partners also offer free state returns.
2. Accurate Calculations
Each Free File partner guarantees the accuracy of the return calculations, so you can rest easy knowing your math is correct.
3. Fast Refunds
E-filing with direct deposit means you’ll get your refund faster than traditional methods.
Need Help?
If you encounter any issues or need assistance, the IRS offers a range of support options including the VITA and TCE programs for specific qualifying individuals.
So, why not make tax season a little less stressful by taking advantage of IRS Free File? It’s secure, easy to use, and best of all—free! Happy filing!
