You probably don't need to pay for your tax return. Here's how to file yours for free
Tax season is a contrasting time for many people. Some are excited about big tax returns, while others will put off filing for as long as possible, dreading the headache of going through a more complicated return − or worse − fearful of how much they'll need to pay.
Thankfully, there are resources, even free ones, that will help guide you through the process. The best place to start is with the Internal Revenue Service (IRS), which offers free guided tax preparation and fillable forms taxpayers can use to file for free without guidance.
Here's how you can file your taxes for free.
IRS Free File helps you file your taxes for free
IRS Free File is a program that provides two ways to prepare and file your federal income tax online for free. Qualifying taxpayers can use guided software to help them file their taxes online. The program also provides taxpayers with fillable forms to file their taxes for free even if they don't qualify for the guided tax preparation.
2024 tax season: How early can you file your taxes in 2024? Here's what you need to know for tax season
Who qualifies for IRS Free File?
The IRS Free File program provides free guided tax preparation software for qualifying taxpayers and free electronic forms everyone else can use to file themselves. So, how do you qualify for the guided tax preparation? It's free to everyone whose adjusted gross income (AGI) is $73,000 or less.
What is the IRS Free File program's free guided tax preparation?
The IRS's guided tax preparation provides free tax filing online through an IRS partner website. Qualifying taxpayers can file for free, get help with simple questions, let the software take care of all the numbers and even provide some state tax filings for free.
How to use IRS Free File
IRS Free File has yet to open for the 2024 tax season, but you can head to IRS.gov to file once it's open. Here is how to use the IRS Free File:
Navigate to IRS.gov
Choose between guided tax preparation or Free File Fillable Forms from the IRS Free File options
You will be taken to an IRS partner website to create a new account or log into an existing account if you're a previous user
Use the partner's site to prepare and e-file your tax return
An email will let you know when the IRS has accepted your return
Who are IRS partners?
The IRS Free File program is a public-private partnership between the IRS and the Free File Alliance, a coalition of leading tax preparation software companies. IRS Free File partners are online tax preparation companies that provide free electronic tax preparation and filing of federal tax returns for free. Here's a list of the members of the Free File Alliance that offer free tax services in partnership with the IRS:
1040NOW Corp.
FileYourTaxes
OnLine Taxes
TaxACT
TaxHawk
TaxSlayer
How to get started with IRS Free File
Here is what you'll need to get started with IRS Free File, according to the IRS website:
Personal information
A copy of last year's tax return in order to access your AGI
Valid Social Security numbers for yourself, your spouse and any dependent, if applicable
Income and receipts
Social Security benefits
Unemployment compensation
All receipts pertaining to your small business, if applicable
Income receipts from rental, real estate, royalties, partnerships, S corporations and trusts
Other income
W-2s, showing your annual wages from all of your employers
Form 1099-INT, showing interest paid to you throughout the year
Form 1099-G, showing any refund, credit or offset of state and local taxes
Forms 1099-DIV and 1099-R, showing dividends and distributions from retirement and other plans paid to you during the year
ACA filers
Form 1095-A, Health Insurance Marketplace Statement. For more information, see Affordable Care Act (ACA) Tax Provisions.
File electronically
When self-preparing your taxes and filing electronically, you must sign and validate your electronic tax return. To verify your identity, use last year's AGI or last year's self-select signature personal identification number (PIN). To sign your electronic tax return, use a five-digit self-selected PIN, any five numbers (except all zeros) that you choose that serve as your electronic signature.
If you do not know last year's AGI or have a copy of your prior year tax return, you can find that information by signing into your online account. This is the best way to view your prior year AGI and access your tax records.
If you are unable to access your online account, you can get a tax return transcript by mail showing your prior year AGI.
Contact information
To get a notification from the Free File software company that your return was accepted by IRS, you need a valid email address.
IRS Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE)
The IRS offers to additional programs to help other qualified taxpayers: Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE).
The VITA program offers free basic tax return preparation for people who generally make $60,000 or less, have disabilities or are limited English-speaking taxpayers.
The TCE program offers the same for people who are 60 years old or older, specializing in questions about pensions and retirement-related issues unique to seniors.
What to know before visiting a VITA or TCE location
IRS VITA and TCE tax prep locations are operated by certified volunteers and will only prepare basic tax returns. Here’s a list of what they will and will not prepare:
Will prepare
Wages, salaries, etc. (Form W-2)
Interest Income (Form 1099-INT)
Dividends Received (Form 1099-DIV)
State Tax Refunds (Form 1099-G)
Unemployment Benefits (Form 1099-G)
IRA Distributions (Form 1099-R)
Pension Income (Forms 1099-R, RRB-1099-R, CSA-1099)
Social Security Benefits (Form SSA-1099, RRB-1099)
Simple Capital Gain/Loss (Form 1099-B) limited
Sale of Home (Form 1099-S) limited
Prior Year and Amended Returns
Self-Employed Income (Form 1099-MISC, Form 1099-NEC and Form 1099-K) limited Gambling Winnings (Form W-2G)
Cancellation of Debt (Form 1099-C) limited
Health Savings Accounts (Form 1099-SA) limited
Itemized Deductions limited • Education Credits (Form 1098-T)
Child Tax Credit
Earned Income Credit
Health Insurance Statements (Forms 1095-A, B or C
Will NOT prepare
Schedule C with loss, depreciation or business use of home
Complicated Schedule D (capital gains and losses)
Form SS-5 (request for Social Security Number)
Form 8606 (non-deductible IRA)
Form 8814 (child taxed at parent’s tax rate)
Form SS-8 (determination of worker status for purposes of federal employment taxes and income tax withholding)
Parts 4 & 5 of Form 8962 (Allocation of Policy Amounts, Alternative Calculation for Year of Marriage
Form W-7 (application for Individual Taxpayer Identification Number (ITIN) )
Returns with casualty/disaster losses
What to bring to IRS VITA and TCE location
Here’s a list of items and documents to bring with you to an IRS VITA and TCE location:
For married filing joint, both spouses must be present
Government issued photo identification for you and your spouse (if married)
Social Security cards or Individual Taxpayer Identification Number documents for you, your spouse, and/or dependents
Birth dates for you, spouse, and/or dependents
A copy of last year’s tax return
All Forms W-2 and 1099
Forms 1095-A, B or C (ACA Statements
Information for other income
Information for all deductions (including charitable contributions)/credits
Total paid to daycare provider and their tax ID number
For direct deposit of refund, proof of account and bank’s routing number
For prior year returns, copies of income transcripts from IRS (and state, if applicable
This article originally appeared on Pensacola News Journal: IRS Free File lets you file your taxes completely free. Here's how
