fbpx Skip to main content
Money Management

Here’s Who Qualifies for the IRS Free File Program

By February 10, 2024No Comments

This post may contain affiliate links which may compensate us based on your interaction. Please read the disclosures for more information.

Federal tax-filing fees can add up fast. Before paying these fees, verify whether you qualify for services like IRS Free File. Find out more. [[{“value”:”

Image source: Getty Images

Now that we’re into tax season, you’re likely starting to gather all your tax documents. Tax software can guide you through tax preparation so it’s less overwhelming. To avoid paying high preparation and filing fees, check to see if you qualify for free tax preparation services.

The IRS Free File Program is available to taxpayers meeting income requirements. Keep reading to determine if you qualify for this no-cost option before filing your 2023 federal tax return.

The IRS Free File program is a valuable resource

The IRS Free File Program is a service made available to U.S. taxpayers. Through the program, the IRS partners with select tax preparation companies. Eligible taxpayers can use partner software to prepare and file their federal tax returns at no cost.

Your household’s adjusted gross income (AGI) for the 2023 tax year must be $79,000 or less to qualify for this service. If you qualify, don’t neglect this program. Not paying filing fees can be a win for your personal finances.

The following eight tax prep companies have partnered with the IRS this tax-filing season:

1040.com1040NOWezTaxReturnFileYourTaxes.comFreeTaxUSAOnLine TaxesTaxActTaxSlayer

Review the eligibility requirements for participating providers

You should know that participating partners may set additional income or age limitations to use their services for no-cost federal tax preparation. The IRS has an online tool that taxpayers can use to determine which partner software they’re eligible to use based on their age, income, and unique tax situation.

It’s also worth mentioning that free state tax return filing may be available to taxpayers in some states. The filing price will be displayed if you need to pay to file your state tax return.

Here’s another free option for taxpayers

If you feel confident in your ability to prepare your tax return the old-school way, you can use Free File fillable forms, made available through the IRS.

There are no age, income, or residency restrictions to use this service. After creating an online account, taxpayers can choose the tax forms they need and complete them electronically.

You should print a copy of your completed forms for your records. Once your federal tax forms are completed, you can e-file your federal return at no cost. This is an excellent option to consider if you don’t meet the eligibility requirements for the IRS Free File program.

You can keep more money in your bank account by avoiding filing and tax prep fees.

Don’t wait until the lost moment to file your tax returns

Plenty of time remains to prepare and file your federal and state tax returns. But don’t wait too long. You want to allow yourself enough time to gather your financial documents and verify that your information is accurate before you file. You can avoid costly filing mistakes by taking extra care as you prepare your tax returns.

If you have specific questions about your tax situation, you should reach out to a qualified tax professional for more guidance. If you’re ineligible for the IRS Free File program but want to use other software solutions, check out our list of the best tax software.

Where to invest $1,000 right now

When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has nearly tripled the market.*

They just revealed what they believe are the 10 best stocks for investors to buy right now…

See the 10 stocks

*Stock Advisor returns as of February 6, 2024

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More 

Leave a Reply