It is already tax season, and every year we all have the same question: how can I file my return without making mistakes or spending too much money? Many taxpayers can not afford a notary to help them with their paperwork, so we are here to shed some light.
The answer is on the IRS website, so we are not going to do any miracles. The platform we are talking about is Free File, which lets you file your tax return quickly, easily, and best of all, for free! This is a tough economic time, so every dollar counts.
Free File is like an oasis in the middle of nowhere, and it is especially helpful for taxpayers who do not make much money. We will explain how it works below.
What is IRS Free File?
The Internal Revenue Service (IRS) launched this free digital platform so that taxpayers with annual incomes of less than $73,000 can file their tax return electronically and correctly without having to pay for special software or tax advisors.
You can use a number of IRS-approved programs that can be adjusted to fit your needs with this system. Plus, direct deposit means that if everything goes well, the refund will arrive faster.
Why will we trust this tool?
You can not just get any app from the App Store and call it Free File. It was created and is being managed by the IRS, so you can be sure that your personal and financial information is safe. Do not worry about your private data; it is all encrypted and kept safe by a government agency. Also, it is very easy to use and cuts down on common filing mistakes by a large amount.
It also saves money because taxpayers do not have to pay for private software or accountants when they do not need to. This is great for people who are trying to stick to a tight budget.
Who can use it?
Anyone who files their taxes and has an adjusted income of less than $73,000 a year can use Free File. This includes people who work for someone else, are self-employed, or do occasional work to make money. For the refund, all you need is access to the internet, a bank account that can be used, and some time to fill out the form one step at a time.
The only problem you might have is the language: the tool is only in English. However, many community groups are willing to help people who need it.
How does it work?
All you have to do is go to the IRS website and click on the “Free File” link (click here to go straight there). Depending on your tax situation, you can find different kinds of free software there.
As soon as you get inside, you enter your information, pick the direct deposit refund option, and sign electronically. There you go, your return is ready!
What if my return is more complicated?
Free File might not be enough for more complex situations, like people who invest in stocks, own property, or handle more than one source of income. In that case, we suggest that you either use other IRS services or get help from a professional. If it were us, we would choose the latter.
Does it have advantages?
Free File has benefits that many people do not know about, starting with the money savings. For example, you do not have to travel or wait in long lines, and you can keep a digital record of all the times you have returned items.
Why is this tool important?
Having savings is important, especially for families who do not make as much money as other families. So why pay someone to do your tax return when you can use a free tool to do it?
The main goal of this process is to make sure that everyone has equal access to basic rights like tax filing, without hurting taxpayers’ wallets.
This tool is more than just a website, then. It saves time and money for people who are having a hard time with money. This is a huge step forward for people with low incomes.