If you have a simple or basic tax return there is no reason to pay to file your federal taxes - file free federal taxes online. In addition, it is much more convenient and faster to process a tax return online.
Filing Free Federal Taxes Online: Important Facts
- Most free Federal E-filing is limited to a “simple return” – 1040-EZ.
- Free File is available only to taxpayers with a maximum Adjusted Gross Income of $57,000.
- Some Free E-file companies may establish their own lower income limit.
- While the Free Federal E-file is a legitimate offer, many companies seek to get you to purchase additional products. Specifically, if you do a state return with the company you will need to be prepared to pay a fee to file state tax returns.
- The product offerings of each company is different. Specifically, different forms and schedules that are supported under the free offer differ. Be sure to check the company’s website to determine which forms are available.
File Taxes Online For Free
To start you can go directly to the IRS website.
There will be a form similar to the one below. All you need to do is fill it out and they will show you a list of all of the companies that allow you to free E-file.
Three of the Leading Free E-File Companies
Turbo Tax
Turbo Tax Free Edition: 1040 EZ and simple returns
Free federal efile is included, but state filing is an extra cost.
This is only recommended for those with very simple returns.
If your situation is more complex, Turbo tax offers different paid products – Delux, Premier, Home and Business, and Business. When you purchase these products you then prepare your taxes for free, and E-file at no cost.
Tax Act
Tax Act: Free Federal Edition
Federal efile is included. You can prepare, print and E-file for free.
In addition, Tax Act offers free email and audit support.
Free Tax USA
Free Tax USA: Free Federal E-file
Free federal E-File included. This, again, is focused on simple tax returns. The site claims that most returns can be completed within 30 minutes. You do not download any software, but file directly online.
Do you do a free E-File? What company do you use or recommend?
More Great Articles:
- 28 Tips for Organizing Your Finances
- Send Money or Transfer Money With These Fast Free Ways
- Starting Your First Business: 5 Things You Should Know
- Turbo Tax or CPA | What is the Best Way to File Taxes?
- Mortgage Refinance Tips & Free Mortgage Refinance Worksheet
- Important Mutual Fund Tax and Capital Gains Facts Every Investor Must Know
{ 2 trackbacks }
{ 2 comments… read them below or add one }
Good advice Craig. I see no reason to pay to file your taxes if you situation is basic and you can do it for free. For the past few years, I’ve been using the free e-file service from H&R Block.
As far as filing your state income taxes goes, there are available resources that allow you to file for free as well. Here’s a website where you can find your individual state and see if they offer free filing. Different states may have different requirements in order to be eligible.
Darren´s last blog ..The Laziest Way To Start Investing Successfully
@Darren
Thanks for pointing out that website. I’m glad that you’ve had good experiences with H&R Block.