Tax season has arrived and the IRS is now accepting tax returns for 2021. The deadline for these tax returns is April 18, but massive changes have been made to the free tax filing tools currently available.
Tax return for income under $73,000
If your adjusted gross income for 2021 was $73,000 or less, you can use the IRS Free Files program. The program is a partnership between the IRS and several paid tax software companies, according to HowtoGeek.
If you qualify for the program, you can create specific tax programs for free. You can do your federal taxes, do state taxes, take advantage of all the features, and do it all for free.
However, remember that the free versions available through IRS Free File are different from the normal free versions available on each program website.
Read also : IRS ID.me is a new facial recognition interface for online tax transactions, coming soon to verify identity
To take full advantage of this offer, you must start by using the IRS Free File version of the software. If you meet the requirements, you can use the software at no cost, and even the features are free.
Remember not to use the regular free version of the program as you will have to pay for features and other upsells.
To get started, visit the official IRS Free File website. You can browse all available free file offers or use the IRS Free File Finder to find free file software that supports your situation.
Different tax programs have different limits, which are explained in detail on the page, depending on Nerd wallet.
Consider using MyFreeTaxes
If you start using TaxSlayer through United Way, you will be allowed to use it as long as your income is around $73,000 or less.
The TaxySlayer offered by the IRS Free File website can be used by those with an income of $39,000 or less. As for the one offered by Centraide, it can be used by those who earn $73,000 or less per year.
You must begin your return by clicking on the MyFreeTaxes website.
Consider TurboTax Free Edition
Intuit offers a free version of TurboTax, but that’s only for simple tax situations. For example, even if your income in 2021 was low, you’ll have to pay to upgrade to TurboTax Free Edition if you want to deduct student loan interest.
Cash Application Taxes
This year, Credit Karma Tax is transforming into Cash App Taxes. Like Credit Karma Tax, Cash App Taxes are free to everyone and there are no upsells.
Despite the name change, it is the same application as Credit Karma Tax. It should be fine if you’ve used it for the past few years and are happy with the service.
Intuit changed its name because the company acquired Credit Karma, but was forced by the government to sell Credit Karma Tax as part of the deal.
In 2022, the IRS terminates its contract with ID.me for confidentiality reasons.
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Written by Sophie Webster
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