E-File Your Federal Taxes Online for FreePublished:
Whether you owe Uncle Sam or you’re expecting an income tax refund, the federal government has opened the doors to allow taxpayers to e-file taxes online for free and millions of taxpayers (more than 30 million have e-filed since 2003) are taking advantage of it.
The Free File program provides free federal income tax preparation and electronic filing for eligible taxpayers through a partnership between the Internal Revenue Service and the Free File Alliance LLC. The Free File Alliance is a coalition of 19 industry-leading tax software companies partnered with the IRS to help millions of Americans prepare and e-file their federal tax returns for free. Free File is the fastest, safest and most affordable (since it’s free) to prepare and e-file your federal income tax return.
According to government statistics, approximately 70% of the U.S. population is eligible to e-file taxes online for free.
This is a terrific opportunity for taxpayers who are expecting a refund because the funds are available much more quickly than waiting for a paper check to arrive in the mail. Typically, within just a few weeks, the money is automatically deposited into the taxpayer’s bank account. Another advantage e-file taxes online for free is that if you use the same software provider in subsequent years, often the data you input from prior years is saved and information may be automatically uploaded which speeds up the process of completing the current year’s taxes.
This can cut down on the time it takes to fill out a bunch of tax forms by several hours. In addition to those available through Free File, if you want to e-file taxes online for free, there are many other companies that offer free or paid state tax preparation and e-filing services. It is important to note that some companies may offer free federal income tax preparation and filing but may not offer state tax preparation and e-file services for all states. You might possibly need to pick up the local state tax forms from the library or download and print them from the internet.