Free File is a program started by the IRS to help the lower income tax payers file their taxes for free. Free File has agreements with several different companies that offer a free version of their tax software to individuals who qualify. In order to use Free File you must access the programs through the IRS website. The programs are also available in Spanish.
Free File is available to individuals with an adjusted gross income level of less than $54,000.00. This is a great program that allows these individuals to have access to the tax preparation software for free. You simply visit the IRS’s website and decide which program best suits your needs.
This can save you the cost of going to a tax accountant. The software instructions are easy to follow. The software used is similar to that at the major tax preparation businesses, and you can save yourself the hassle of going into one. You will need to be prepared with all of your current tax information and a list of all of the forms that you will need to file your taxes.
The process should only take a few hours. The time needed will vary as it depends on how complicated your taxes are. You will have to pay for a state tax return, but the ease of the programs will be worth the cost. Most programs cost about $25.00 for the state tax return.
If you are filing and have a business or two under your social security number, you may consider going to a tax accountant or upgrading your software. The free file software is very basic, and while it meets most individuals’ needs you may want to make sure that you cover your bases when it comes to itemizing and your deductions.
