How to file taxes for free in 2024 with IRS Free File. Learn about the program and its free tax services for efficient federal and state tax filing, including Form 1040, Form 1040-SR, Schedule C, and other tax forms.
Free Tax Filing 2024
Did you know that you can file your taxes for free, and it’s easier than you might think? That’s right, with the IRS Free File program. Here, we’re going to break down exactly who qualifies for this amazing program and how to make the most of it. We’ll walk through the step-by-step process, demystify the eligibility criteria.
So, what is the IRS Free File program? It’s essentially a partnership between the IRS and several tax preparation companies. Here’s the deal: if you’re making less than $79,000 a year in adjusted gross income, you’re eligible to use a variety of tax preparation software options for free. Yes, you heard that right – free! This means you may be able to file your taxes without spending extra on tax preparation services.
Now, about that income limit. Whether you’re single, married, or filing jointly, that $79,000 threshold applies across the board. But hey, if your income is above that, don’t worry, we’ll talk about some other options later on.
How to Access Free File
Let’s jump into how you can access this program. Just head over to the IRS website. Within the Free File program, there are two main options. The first one, which is the focus of our talk today, is the guided tax preparation. The second option is free fillable forms, which is great for those who are comfortable filling out tax documents on their own.
If you’re opting for the guided tax preparation, you’ll find a helpful guide on the IRS website. This guide will ask you some simple questions to figure out which software will work best for you. It’s like a personalized tax assistant.
But what if you want to explore all the options yourself? You can! Just go to ‘Browse All Trusted Partners’ on the IRS website. This allows you to filter through the software options to find what best suits your needs, including free state filing options.
A quick note: while the Free File program covers federal taxes, some software options also cover state returns, which is super helpful.
Now, you might be thinking, “What if I don’t like any of these programs or my income is above the limit?” No worries! Just Check out our other videos on filing taxes and filling the form 1040.
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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.