The 2024 tax filing season is quickly coming to an end, with the IRS processing returns and delivering refunds to millions of Americans. If you have yet to file your taxes, the IRS offers a program called Free File that allows eligible individuals to file their federal tax returns for free. This program is a partnership between the IRS and seven of the largest online tax-prep companies in the country. If your adjusted gross income was $79,000 or less in 2023, you qualify to use Free File to process and submit a simple return for free, with some companies even processing state returns.
In 2024, Free File has seen a significant increase in usage compared to previous years, with 943,000 filers taking advantage of the program so far. This program allows individuals to file their federal returns electronically at no charge, with some companies also offering free state returns. Participating companies include 1040NowDrake, ezTaxReturn.com, On-Line Taxes, TaxAct, TaxHawk, TaxSlayer, and more. The eligibility rules for Free File vary by provider, but individuals with an adjusted gross income of $79,000 or less in 2023 are likely to find an offer that they qualify for.
The Free File program can answer basic questions, perform calculations, and file your federal return with the IRS. The program offers step-by-step guidance to help individuals quickly and securely file their federal taxes at no cost. To use Free File, you need income statements, social security numbers for yourself and any relevant individuals, and your 2021 tax return to access your adjusted gross income. To file with IRS Free File, visit the IRS website, select the best product for you, and follow the links to the provider’s website to begin your tax return. It’s important to note that Free File cannot be used to submit returns for any year prior to 2023.
According to the IRS, individuals cannot be required to purchase any products or services in exchange for having a federal tax return prepared by a participant in the Free File program. While federal returns are free through the program, there may be charges for filing a state return. For more tax tips and information on when you’ll get your 2024 tax refund, as well as the fastest way to receive it, it’s important to stay informed and updated on the latest tax guidelines and procedures. The Free File program offers a valuable resource for eligible individuals to file their federal tax returns at no cost, with the convenience of electronic filing and step-by-step guidance.
