Tax filing might have been an arduous task for a few in the past; however, with the advent of modern technology, many things have become easier, including tax filing. If you are scouting for various methods to help you file a tax for free, then you have reached the right article. As per the IRS, more than 70% of people who file taxes in the United States of America are eligible for a program IRS that allows them to file returns at no cost.
You can file free tax returns in numerous ways. It is important to note that these options are only suitable for those whose incomes are limited to a specific threshold. You can use online software programs, avail services of volunteers who help file returns without charging, or use IRS free filing to file a tax for free.
But, if you are looking for methods to help you file complicated taxes, let me be very blunt; there aren’t any! Period. Complicated tax filing would require expert services, and those tax experts are not going to provide any services without a fee. Self-employed people, professionals like doctors and lawyers, corporate investors, etc., fall into the category of complicated taxpayers. You can check out H&R pricing for better cost insight if you fall into this category.
Tips for Free Tax Filing
Here are a few tips to help you with free tax filing:
The Free File Program by IRS
The IRS free file program lets eligible American citizens file free returns through its program. It is a public-private partnership program developed by the IRS and Free File Alliance group. The popularity of this program has increased over the years, and as per the IRS reports, around 4.2 million eligible American citizens used the Free file program in 2020.
American citizens whose income was less than USD 72,000 in the year 2020 are eligible for this program. The ingenious software includes systematic instruction to make it easy for you to file returns, and some products also let you file state taxes for free.
If you plan on using this program, you need to visit the IRS website directly.
VITA and TCE
IRS Volunteer Income Tax Assistance and Tax Counseling for the Elderly is yet another program by IRS that helps senior citizens with free basic tax preparation services. These services are meant to help low-income tax filers whose annual income is below USD 57000, senior citizens, limited English speakers, and citizens with disabilities.
Before the pandemic hit the world, these programs were done in person. However, the operating trend has changed these days, and you might have to peruse the proper IRS locator tool to find the best possible method.
Free Fillable Forms
People who do not fall into the above categories or have incomes more than USD 72,000 per year can use Free Fillable Forms to file free tax returns. However, while using this method, you need to remember that you will prepare your taxes.
This program lets you file online taxes using the respective forms. You can either submit these electronically or mail the printout to IRS. The online portal hardly provides any guidance, and therefore if you are planning to use this method, be prepared to spend extra time preparing taxes and filing them.
Pro-Bono Services by Private Firms
Several companies like H&R Block, Turbo Tax, or Credit Karma allow you to file your taxes free of cost. However, make sure to read their pre-conditions for the tax filers to check your eligibility.
Beware of the companies that try to lure with free tax filing options but later try to upsell and charge money. Read the details provided in the fine print of these service providers’ websites.
Additionally, it would be wise to check the level of complexity of your taxes. If you need to use an expert service, don’t shy away from spending a few extra bucks. This would help you save a lot of trouble and hassle in the future.
Tax filing is important, and therefore one needs proper guidance to help them with the process. Many eligible citizens pay heavily to file their tax returns just because they are unaware of the possible methods to help them with it without any costs.
However, it is important that we point out that not everyone is eligible for free tax filing. We discussed this point in our introductory remarks that complicated tax returns require expert services. Therefore, make sure that you check your accounts and books properly and deduce if you can use free tax filing systems or need an expert opinion.
It is with the aim of guiding and help such an audience we created this write-up. Hopefully, you get useful insights from this write-up and make the best use of it while filing your tax returns.