How to File Your Federal Taxes for Free
Many taxpayers qualify and yet never realize it.
Read more to see if you can file your federal taxes online and free of charge:
Don’t know if you qualify for a 1040ez? Well, you might be surprised at who does. The qualifications are broad and if it fits your situation, you may be eligible to receive free federal tax preparation software.
The primary criteria for who can use a 1040ez to file their federal income taxes are as follows:
- Taxable income of under $100,000.
- A filing status of single or married filing jointly and not claiming dependent deductions.
- Taxpayer (or if filing a joint return, taxpayer and spouse) under the age of 65.
- Income earned through wages, salary, unemployment, fellowship grant, scholarship (taxable) and/or tips (tips need to be included in boxes 5 and 7 of your Form W-2).
Does this sound like you? Chances are it does, and that’s great. It means you can likely file your federal return completely free of charge. To take advantage of this, start by setting up a new account (here).
Once you’ve created your account, simply add your personal information, income, and the intuitive software will ask you questions to identify possible deductions. Then, if the 1040ez form fits your filing situation, your IRS tax return will be prepared and electronically transmitted completely free of charge.
There is, however, criteria that may require you to use an alternative form. For example if the following apply to you:
- Received alimony, dividends or taxable interest over $1,500.
- Filed for chapter 11 bankruptcy.
- Have adjustments to income, such as an IRA, paid alimony, bad debt deduction, moving expense, tuition fees and student loan interest.
- Owe employment taxes on a household employee.
- Seeking to claim a tax credit other than the earned income.
Not sure if you qualify to file with a 1040ez? Fear not, even if you don’t qualify you can likely still receive a reduced price to file a full 1040 or 1040A tax return. See the pricing chart for more.