CAN YOU FILE FEDERAL TAXES FOR FREE? QUALIFY FOR IRS FREE FILE
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Filing taxes is inevitable if you work or run a business in the US. Fortunately, you may qualify to file your federal taxes for free through a program called IRS Free File.
Though it has some limitations on eligibility and output sophistication, free tax filing options create financial and mental relief for taxpayers lacking disposable income.
So, if you are looking for the answer to the question “can you file federal taxes for free?”, keep reading.
UNDERSTANDING IRS FREE FILE
IRS Free File allows you to prepare and e-file your federal tax return at no cost. This valuable service is a result of the IRS partnering with reputed tax software providers.
The purpose is to facilitate free tax filing access for over 100 million eligible taxpayers in the US. Quite the helpful hand for low to moderate-income citizens struggling with tax prep costs.
The main benefit, obviously, is the complete waiver of filing fees. This includes both preparation and submission of returns. Saving $200 or more in CPA fees per year is no small deal for many households.
On top of the monetary assistance, IRS Free File guides users through the filing process via a simple online questionnaire format. Easy-to-understand language and extensive help features provide a comfortable tax prep experience for filers at all levels of expertise.
Key Takeaway: IRS Free File allows over 100 million eligible people to file federal taxes for free through an IRS-tax software industry partnership. It offers both cost savings and an assisted preparatory process.
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ELIGIBILITY FOR IRS FREE FILE
IRS Free File eligibility is based on income criteria. Your adjusted gross income must be $73,000 or less in 2024 to qualify for the current tax season.
However, specific income maximums differ across the various tax software options under IRS Free File. For example, some set eligibility at $20K-40K annual income. So, research thoroughly to find the best free offer for your tax bracket.
If disabled, military personnel, or eligible for the Earned Income Tax Credit, you may still qualify with income over $73K. Explore all avenues before assuming ineligibility.
Key Takeaway: Eligibility for IRS Free File relies on adjusted gross income under $73,000 for most tax software offers. Additional criteria apply for special status individuals up to $73K+ income levels.
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