Unlock Your Tax Treasure: Discover IRS Free File & Claim Your Overlooked Refunds!
Did you know the IRS is like that friend who keeps reminding you to save your money? Well, today we’re here to talk about IRS Free File, a nifty program that’ll help you get those overlooked tax credits and refunds you deserve! No more leaving money on the table, folks!
Let’s break this down into bite-sized pieces, shall we?
Free File: The IRS’ Gift to You
The 2023 federal tax filing deadline is on Tuesday, April 18. Don’t miss it! Remember, the only way to get your hands on that sweet, sweet refund is to file your taxes.
The IRS Free File program allows you to file your taxes online and have your refund directly deposited into your bank account. And guess what? It’s all free! It’s like the IRS is saying, “Hey, I got you, buddy!”
Two Flavors of Free File
There are two ways to enjoy IRS Free File:
- Guided Tax Preparation: If your Adjusted Gross Income (AGI) is $73,000 or less, you get free online tax prep that walks you through the tax return process. It’s like having a helpful tax buddy holding your hand every step of the way. Just watch out for state tax return fees from some partners.
- Free File Fillable Forms: If you’re making more than $73,000, you can use electronic tax forms that are basically the digital version of the paper 1040 form. This option is great for those who feel confident doing their taxes solo, with IRS instructions as their trusty sidekick.
Why Bother Filing If I Don’t Have To?
With few exceptions, such as self employment income, you might not be required to file a federal tax return if you earn less than $12,950 as a single filer, or $25,900 for married filing jointly. But, my friends, don’t let that stop you! You might be entitled to a refund, like the Earned Income Tax Credit (EITC) or even money withheld from your paycheck.
Who Should Check Out IRS Free File?
- Low- to moderate-income workers who might miss out on individual credits, like the EITC, Child Tax Credit, Child & Dependent Credit, and Premium Tax Credit.
- People experiencing homelessness (you can use a friend’s, relative’s, or service provider’s address on your tax return).
- Students or part-time workers just getting their feet wet in the workforce.
- Parents of children born or adopted in 2022, who may be eligible for the Child Tax Credit.
What If I Don’t Have a Bank Account?
No worries! You can use the FDIC or Credit Union Locator Tool to find a bank or credit union to open an account online. Veterans can use the Veterans Benefits Banking Program (VBBP). Many reloadable prepaid cards also have account and routing numbers for direct deposit.
IRS Free File: The Real Deal
Beware of imposters! The only guaranteed place to find IRS Free File software is at IRS.gov. You can access it on a computer, mobile phone, or similar device.
If you’re still not comfortable doing your own taxes, don’t fret! The IRS has your back with its Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. Just use the IRS website’s special tool to find the nearest site or call 800-906-9887.
For more information, check out:
FS-2023-09: Tax credits for individuals
- [FS-2023-10: Deductions for individuals] (
***Disclaimer: This communication is not intended as tax advice, and no tax accountant -client relationship results**