Filing taxes can be a stressful time for many people in the United States. With numerous tax laws and regulations to navigate, it can be challenging to know where to start. However, it doesn’t have to be expensive or complicated to file your taxes. Here are ten free or cheap ways to file your taxes in the United States.
Use IRS Free File
The IRS Free File program is a partnership between the IRS and several tax software companies, which provides free federal tax preparation and electronic filing to eligible taxpayers. If your income is $72,000 or less, you can use IRS Free File to prepare and file your federal tax return for free. Visit the IRS website to find a Free File software provider that best suits your needs.
File online
Many online tax software providers offer free or low-cost tax preparation and filing options. Some of the most popular online tax software providers include TurboTax, H&R Block, TaxAct, and FreeTaxUSA. These providers offer different pricing options, and some may even offer free filing options for certain types of tax returns.
File by mail
If you prefer to file your taxes by mail, you can request tax forms and instructions from the IRS website. You can also visit your local post office or library to pick up tax forms. However, keep in mind that paper filing can take longer to process, and there is a higher risk of errors and delays.
Visit a Volunteer Income Tax Assistance (VITA) site
The VITA program is a partnership between the IRS and community organizations that provide free tax preparation services to low-income taxpayers, the elderly, and people with disabilities. To find a VITA site near you, visit the IRS website or call 800-906-9887.
Use a tax preparation app
Tax preparation apps like TaxSlayer, Taxfyle, and Credit Karma Tax offer free or low-cost tax preparation and filing options. These apps guide you through the tax preparation process and can help you identify potential deductions and credits.
File for an extension
If you need more time to file your tax return, you can request a six-month extension by filing Form 4868. This extension is automatic, and there is no penalty for filing it. However, keep in mind that you must still pay any taxes owed by the original due date to avoid penalties and interest.
Seek help from a tax professional
If you have a complicated tax situation, such as owning a business or having multiple sources of income, it may be wise to seek help from a tax professional. However, keep in mind that their services can be expensive. You can search for tax professionals on the IRS website.
Use tax preparation software provided by your bank
Many banks offer free tax preparation and filing software to their customers. Check with your bank to see if they offer this service.
File your state taxes for free
Most online tax software providers charge for state tax preparation and filing. However, many states offer their own free tax preparation and filing programs. Check with your state’s tax agency to see if they offer this service.
Take advantage of tax credits
Finally, make sure to take advantage of tax credits that you may be eligible for, such as the Earned Income Tax Credit (EITC) or the Child Tax Credit (CTC). These credits can significantly reduce your tax liability or even result in a refund.
In conclusion, there are numerous free or cheap ways to file your taxes in the United States. From online tax software providers to volunteer tax preparation services, there is a solution for everyone. By taking advantage of these options and seeking out tax credits, you can save money and reduce the stress of tax season.