Unlock the Secret to Free Tax Filing: IRS Free File Program
As the tax season approaches, millions of Americans are gearing up to file their returns. But did you know that you might be eligible for a free tax filing option? The IRS Free File program is a public-private partnership that offers a fast and simple way to file your taxes, and it’s available to more than 70% of taxpayers.
What is IRS Free File?
The program is a collaboration between the IRS and the Free File Alliance, a nonprofit coalition of tax software companies. It provides free tax filing options to individuals with an adjusted gross income (AGI) of $84,000 or less in 2024. To calculate your AGI, simply subtract certain tax breaks from your total income. You can find this figure on line 11 of your 2024 tax return.
Who is Eligible?
While anyone with an AGI of $84,000 or less can use IRS Free File, each partner has different eligibility requirements based on age, income, state residency, and military status. Some partners also offer free state tax returns. You can browse all eight partners to find the one that’s right for you.
Free Fillable Forms for All
In addition to guided Free File options, the program also offers Free Fillable Forms, which is the electronic version of a paper-filed return, for taxpayers at all income levels.
A Valuable Resource
Despite being available to millions of taxpayers, only a fraction of eligible filers use the software. “It’s not just for simple returns,” said Tim Hugo, executive director of the Free File Alliance. Each of the eight software partners must accept the most commonly used tax forms and schedules, including Schedule A for itemized deductions, Schedules B and D for investment earnings, and Schedule C for self-employed filers.
Get Started Today
The program opened on January 10, and taxpayers can e-file returns prepared through Free File partners starting on January 27. During the 2024 season, Free File processed 2.9 million returns through May 11, a 7.3% jump compared to the same period in 2023.
A Hidden Gem
“It’s kind of like a hidden gem in the forest,” said Hugo. “We just need more people to know about it.” Don’t miss out on this valuable resource. Take advantage of IRS Free File today and file your taxes for free.
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