Tax season has officially begun, and the Internal Revenue Service (IRS) offers tools to make filing returns a little easier. Free File from the Internal Revenue Service is a free online service that allows you to create and submit your federal income tax returns.
In two different formats, the service is available: as genuinely assisted tax preparation through partner sites, or as Free File Fillable Forms.
The Internal Revenue Service (IRS) offers guided tax preparation in order to provide free online tax preparation and filing through IRS private partners. FileYourTaxes.com, TaxAct, Free1040TaxReturn, and FreeTaxUSA are just a few of the companies that have partnered with us.
You can see a complete list of providers by visiting the offers page, which can be found here. The service is available to taxpayers who have an Adjusted Gross Income of $73,000 or less in a given year. Your adjusted gross income is the sum of your total income minus certain deductions (such as children, other dependents, etc.)
In order to calculate your AGI, you will need to use Form 1040 (the 2021 version of which can be downloaded here). Step through the process in lines 1-10, and the final AGI will be displayed on line 11. In order to retrieve your AGI, you will also need a copy of your tax return from the previous year.
Read More: Biden Administration to Remove Covid-19 Vaccinations and Testing Policy for Businesses
If you meet certain income requirements, you are eligible for absolutely free guided tax preparation through the Internal Revenue Service. One thing to keep in mind is that this is solely for your federal income tax return.
You will still be responsible for filing your state taxes on your own, and you will need to follow the rules and regulations set forth by your state for filing state-specific taxes.
Fortunately, some state tax preparation services are available for free and may be located through the IRS Free File system. However, you will need to double-check that the service is free of fees in your state before signing up for anything.
The IRS also offers Free Fillable Forms as an alternative method of filing tax returns. These are electronic federal tax forms that are the electronic version of a 1040 paper form, which you may fill out for free online by entering your information.
It is very important to understand that if you choose this option, you will be responsible for preparing your own tax return. This option is for people who earn more than the AGI income threshold for free filing, but it is still available to make it easier for people to file their own taxes on a self-employed basis.
This is the only free assistance offered to taxpayers with an adjusted gross income of $73,000 or more, however, taxpayers of any income level are welcome to use the forms to submit their returns.
