Effortless Solutions: Where Can I Do My Taxes for Free?
One of the most frequently asked questions during the tax season is, “where can I do my taxes for free?”. For many, effortlessly handling tax season is of utmost importance, especially if there’s a possibility of doing it without burning a hole in one’s pocket. Luckily, several available online platforms and services let you efficiently accomplish this herculean task for free! This article will shed light on some of these resources that can alleviate your tax-related anxieties with absolute ease.
The IRS Free File service is at the top of our list. If your adjusted gross income is $72,000 or less, you can use this platform to prepare and file your federal income tax online at no cost. The IRS Free File has partnered with many companies offering different free filing options. Downloadable tax prep software is also available if your income is below $72,000.
If your income is above the stated range, free fillable forms will be available through the IRS Free File. These forms perform basic calculations, but won’t offer as much guidance, so they’re better for individuals who are already familiar with tax filing.
Credit Karma Tax is another excellent choice for free tax preparation, offering a simple way to file your federal and state taxes. They pledge to be always free, and include both state and federal filing. However, their free software does not cover all tax situations, so you might need to consider other options if your tax case is complex.
TurboTax Free Edition is a free service offered by the well-known tax preparation software company, TurboTax. It’s an excellent online option designed for simple tax situations. They also offer a TaxCaster tool for free tax calculations. However, you could be charged for state filings and availing additional services or having a complicated tax situation.
AsenaAdvisors is another excellent service to consider. They offer free consultation and tax advice to individuals, and provides various tax related services and resources. In addition, they also guide you on how to benefit the most from various tax deductions and credits.
H&R Block Free Online is yet another digital service offering free tax preparation. It covers a wide range of tax situations including those with W-2 income, unemployment income, retirement distributions, interest and dividend income, tuition and fees deduction, student loan interest deduction, and earned income tax credit (EITC). But, just like with TurboTax, you might incur charges for state filings or additional services.
The TaxAct Free Edition is an online service that offers to file for free federal taxes on simple tax returns. But it could cost you to file state taxes or gain access to extra services.
The AARP Foundation Tax-Aide is a free service for taxpayers who are 50 and older or who have low to middle income. The AARP Foundation’s volunteers are trained and IRS-certified each year to ensure they understand the latest changes to the U.S. Tax Code.
To conclude, there’s an assortment of options for individuals wondering, “where can I do my taxes for free?”. You simply need to evaluate the resources against your income level and the complexity of your tax situation. Remember, the goal is not just to find a service that will prepare your tax returns free of charge, but also one that ensures maximum benefits and error-free filing.