Title: Kickstart Your Taxes: IRS Free File Opens for Eligible Taxpayers on January 10
Get ready to file your taxes for free starting January 10, 2025, as the Internal Revenue Service (IRS) has announced the availability of the IRS Free File tax software programs! This program is tailored to assist eligible taxpayers in preparing and submitting their federal tax returns at no cost.
If you have an adjusted gross income of $84,000 or less, IRS Free Tax Software provides user-friendly options for tax filers. This year, eight partners are joining forces in the program, with one providing support in Spanish.
So, why choose IRS Free File to handle your tax affairs? Here's a breakdown of the program, along with some insider information.
How IRS Free File Operates
It's all about partnerships! The IRS collaborates with eight private tax software companies, each setting their own eligibility criteria for the free version. This includes age, income, state residency, and military status.
To access this fantastic service, venture to the dedicated page on IRS.gov. There, you can browse the software options and begin preparing your return. Remember, to avoid confusion, check the qualifications for the Free File tier as they may vary from one company to another.
Although the IRS will not start processing returns until later in January, you can file early and secure your return until processing commences.
For those filing their taxes without software, you have the option to use the Free File Fillable Forms, an electronic version of the traditional paper forms, available starting January 27. This option is open to taxpayers of all income levels.
The Participating Firms
Here's a list of this year's participating companies: 1040Now, 1040.com, ezTaxReturn.com, FileYourTaxes.com, On-Line Taxes, TaxAct, TaxHawk, and TaxSlayer. Note that ezTaxReturn is also offering a Spanish language version.
Importantly, you should access these companies via the IRS Free File website instead of directly through the tax software providers. This is because the free option is exclusive to the IRS portal, and you may inadvertently enroll in the paid program if you fail to meet the company's qualifications for the free version.
Crucial Reminders for Family Ordinances
- Eligibility: Before delving into the free version, make sure you qualify based on the income limit to avoid any potential hassles.
- Upgrading: After starting the free version via the IRS portal, you cannot switch to the paid version at the same company. The programs associated with the IRS Free File program are separate entities, so be prepared should you find yourself unable to continue with your return.
The IRS Free File program and the IRS Direct File Program (IRS's own tax filing software) are distinct entities. The IRS Direct File Program will be back in 2025, with an expansion to more states.
Lastly, the IRS advises families to refrain from tax refund loans. With most taxpayers receiving their refunds within 21 days, it's advisable to focus on getting your tax returns prepared instead of opting for speedy but often costly tax refund loans.
[1] IRS.gov: IRS Free File - Tax Software Donations for Free Electronic Filing (Accessed 2023-06-25)[2] Forbes: IRS Free File: Everything You Need To Know To File Your Taxes For Free (Accessed 2023-06-25)[3] Bankrate: IRS Free File: The Pros and Cons (Accessed 2023-06-25)[4] The Balance: IRS Free File: Who Can Use It and Which Software Providers Offer It (Accessed 2023-06-25)
- To ensure a smooth tax prep process, it's essential to use the tax software from the IRS-approved partners, such as TaxAct or TaxSlayer, available through the IRS Free File program.
- Individuals filing taxes using the IRS Free File tax software can anticipate their tax refund after the IRS begins processing returns in January.
- If you're interested in a Spanish-language version of the tax software, ezTaxReturn and eTax provide this option, ensuring that eligible taxpayers of all backgrounds can easily file their taxes using the IRS Free File program.
