7 Ways to Get Your Taxes Done for Free

IRS free file

Free File is a special U.S. program designed as a partnership between the IRS and the commercial tax-preparation software engineers. The options available depend on your level of income. You can either get Free File, a free-of-charge brand-name tax prepapration software that helps you get your taxes ready, or Free File fillable forms (note that state tax preparation isn’t included here).

Who is eligible: Any taxpayer with an income lower than $66,000 can benefit from the full program. If your income is higher than that, you are limited to using the free, fillable, electronic versions of paper forms and only basic guidance.

Where to get it:

• This infographic officially released by the IRS introduces you to the Free File concept;
• Free File Alliance’s FAQ webpage also offers plenty of useful information on the program.

Tax preparation companies’ free services

There are a couple of tax-preparation companies which offer basic online versions of their software for free. You may not see it as a big deal, but benefiting from any free tax service will save you enough money to worth the effort.

Of course, unlike the programs above, these ones may include limitations. Some of the most common are:

• Not offering free help with state returns;
• Many free products available can only solve simple tax situations. In this case, it’s best to check the company website to compare the features offered by the paid version of the program;
• For some companies, you may also be at risk for hidden payments, so make sure to double check everything before diving in.