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File your taxes online for free: The IRS Free File Program Explained

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It is officially tax filing season. While many people dread filing their tax return, I have some good news that may cheer you up and save you some money during this tax filing season. For those that meet the requirements, you may file your tax return for free via the IRS Free File Program!

What is the IRS Free File Program?

The IRS Free File program is a partnership between the IRS and leading tax-preparation companies. The partnership states that these tax-prep software companies must provide free online tax preparation and electronic filing for those who qualify for Free File.

What are the requirements to qualify for the IRS Free File Program?

You may file your taxes for free using the Free File software if your income is $72,000 or less (for tax year 2020). By qualifying for Free File, you may choose from several brand-name tax software companies. The software will guide you through the tax preparation process, ultimately preparing and printing your tax return.

If your income is greater than $72,000, you are still eligible to use the Free File Fillable Forms. However, the Fillable Forms only do basic calculations, and so, the option requires extensive work and responsibility.

Related Posts
- Understanding your Form W-2
- Are your income items taxable?
- Tax Filing Guide: How to determine your tax filing status?
- Rental of Residence: How to rent your house tax-free?

Free File Tax Prep Software Offers

TurboTax
You are eligible to file a free federal tax return with TurboTax if you meet one of the following requirements:
  • Your adjusted gross income (What is AGI?) is $39,000 or less, or
  • You are eligible for Earned Income Tax Credit, or
  • You are active military with an AGI of $72,000 or less.
Additionally, TurboTax offers free state returns if you qualify for the free federal return.

FreeTaxUSA
You are eligible to file a free federal tax return with FreeTaxUSA if you meet one of the following requirements:
  • Your adjusted gross income is $39,000 or less, or
  • You are eligible for Earned Income Tax Credit, or
  • You are active military.
FreeTaxUSA offers state filing software for between $12.95 and $14.99.

TaxSlayer
You are eligible to file a free federal tax return with TaxSlayer if you meet one of the following requirements:
  • Your adjusted gross income is $72,000 or less, and you're 51 or younger, or
  • You are eligible for Earned Income Tax Credit, or
  • You are active military with an AGI of $72,000 or less.
Additionally, TaxSlayer offers free state returns if you qualify for the free federal return.

Other less popular options include: EZTaxReturn, OLT, 1040NOW, and TaxAct. The requirements for these tax preparation software companies are similar to the ones described above.

Simply search for the IRS Free File program and follow the links to start filing your taxes for free online. It is a simple and helpful way to file your tax return. Let others know about filing your taxes for free via the IRS Free File program! Happy tax filing season!

For any and all questions and concerns, please comment below, email me directly, or connect on my social media pages.
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