Free Online Tax Preparation
With tax season now upon us, taxpayers should be aware of the free online tax preparation services available to them to file their income taxes.
There are many benefits to consider this method of filing your tax return in addition to the obvious savings.
Millions of people are doing this through tax preparation software, as well as by filing taxes online. No matter what type of software you use, there is a very good chance that it offers a “free federal e-file option.”
In the current day and age, more people than ever are filing electronically. Whether you decide to use free tax software or pay for a more complete version, you should be able to e-file online for free.
What about the program offered by the IRS? Free e-filing of your federal tax return is available online, through the IRS Free File program. This program is a public/private partnership between the IRS and the Free File Alliance LLC. If your adjusted gross income (AGI) is below a certain level, you will have access to this free online tax preparation and e-filing program.
Don’t overlook the fact that you can hire professional tax preparer to help prepare and file your return. Most tax professionals these days have converted to using electronic filing methods. Not only does this benefit their clients, but it helps them to cut back on a lot of paperwork as well. If you are going to e-file your federal tax return online for free, there may be another question on your mind ― What about my state tax return?
Since every state is different, you will need check with the state’s department of revenue for further information. While e-filing is available in most states, you may have to pay a filing fee. For instance, many tax software programs charge $30 to $40 for each e-filed tax return. There are several reasons to e-file your taxes online for free. First and foremost, it speeds up the process. When you file electronically, you can receive your tax refund (if you are owed one) within 10 business days ― much sooner than the weeks-long wait endured by paper filers.
Another reason to e-file online for free is to avoid potential mistakes and errors that can happen with a paper tax return. Why take the risk of making mathematical miscalculations or having your return get lost in the mail? Once you know the method you are going to use to e-file your taxes online for free, the annual tax filing process will seem much more approachable.