But we like a challenge, dont we?
Except most of us dont use it … because we dont know it exists.
No Interest Til Almost 2027?
Check out these eight ways tofile your taxes for free.
Seven companies are part of this agreement as of January 2023,according to its recent press release.
It also bars the IRS from providing its own free filing system like that dreamy no-return scenario mentioned above.
The problem, predictably, is that no one advertises the free services.
And they use every opportunity, asProPublica has reportedrepeatedly.
Did you know?
(BTW,weare happy to tell you all about thosefree tax filing services.)
Sounds great, except more than 130 million taxpayers qualified for free filing through the program.
Thats a participation rate of about 2% of eligible filers.
To qualify, you have to earn below a certain income limit, which changes each year.
Itll ask you some questions to help you determine which service is a good fit for your tax situation.
Before you choose a service, read through the requirements for free filing.
Most importantly: Assume you’re free to find a way to file for free.
We just have to ensure we can find it.
Companies participating in the Free File Alliance change from year to year.
If you qualify, youll pay nothing to file your federal tax return through a participating Free File company.
Youll likely pay a fee to file a state return.
As of 2021, TurboTax is no longer a member of the Free File Alliance.
Mostfree online tax software companiesare comparable in their offerings and requirements.
Few of them offeronlyfree filing, so you might not qualify for their free services.
The Penny Hoarder staff contributed to this post.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
