File Your Income Tax for Free

Did you know that if your annual salary is $60,000 or less you qualify to use Free File software? Seventy percent of Americans can do their taxes for free using brand-name software. The National Association of Tax Professionals found that in 2014 the average tax preparation fee was $159 to file a 1040 with a standard deduction and $273 for itemized deductions. Wouldn’t you like to keep a little more of your money?

To file your taxes free, visit IRS.gov/freefile, you will be asked a few simple questions to determine which software to use. The reason for the questions is that some software has age restrictions, etc. for free file the IRS site will determine which of the 14 options are best for you. Click “Leave IRS Site” to leave the IRS site. By going through the IRS freefile website you are making sure to get the free version of the company’s software.

What you’ll need
To file your taxes, make sure you have a valid email address, copy of your 2013 tax return, and documents for your income and deductions. Tax software is very user friendly and asks you for your information in a way that makes it easy to find what is needed.

If you need assistance, free file is also offered at select locations at Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. You can find locations near you by searching “VITA” on the irs.gov website.

If you make more than $60,000 you can still file free by using free fillable forms from irs.gov.

For more information on Free File, there is a video at igrow.com you can watch.

Source: Carrie Johnson, South Dakota State University