Its unfortunate that many tax filers spend on average $200 to pay a professional to prepare their tax return. You can definitely bypass pricey tax preparation fees, especially those whose income is under $100,000. From the IRS to learning how to manually file, completing your taxes for free is easier than most think.
Get Help From the IRS
The IRS has several resources and tools for filing taxes for free through its Free File resources. Most of the resources are for filers who made less than $64,000 the previous year. The IRS uses online software from partner companies, such as TurboTax, to allow users to file their federal taxes for free. The software on the external sites will provide guidance as filers complete their tax returns. Depending on the state, there is a cost to file a state tax return. Free file software opens up on the IRS website on January 13.
Use TurboTax AbsoluteZero
For filers whose income exceeded $64,000, there is another option. For the third consecutive year, TurboTax has offered users the option to file their federal 1040EZ/A and state taxes for free. Qualified tax filers can use TurboTaxs AbsoluteZero tax filing software to complete their tax return without paying a dime. To qualify, tax filers must not own a home, a business, or made more than $100,000 the previous year. There are other requirements–visit TurboTaxs webpage for the full list of qualifications.
Do Your Own Taxes
Knowing how to file your taxes is one skill that will save you money each year. With just a little knowledge and time, you can learn to do your own taxes and save thousands of dollars over the course of your career. For those who are familiar with preparing their own tax returns, the IRS has fillable forms on its website each tax season. These forms are basically electronic versions of the paper forms.
Get Local Help
During tax season, many local governments will set up workshops that assist tax filers submit their tax returns for free. Usually, government-sponsored tax assistance is offered through the health and human services division and lead by qualified volunteers. Local libraries, churches and nonprofit support agencies, such as the Volunteer Income Tax Return (VITA) program and AARP, often help people file taxes free of charge.