Here's how to pick the best free tax filing option this season
Publishing timestamp: 2024-02-04 08:30:01
Summary
The cost of tax preparation and accounting fees has increased by 8.3% in November 2023 compared to the previous year. However, there are free filing options available for individuals with relatively simple tax returns. The IRS Free File program, a public-private partnership between the IRS and tax software companies, offers free guided tax prep software for eligible filers. The program has increased the adjusted gross income limit for 2023 filings. Additionally, there are other free tax prep programs available for certain taxpayers, such as the Volunteer Income Tax Assistance (VITA) program and the AARP Foundation Tax-Aide. Some taxpayers may also qualify for a limited Direct File pilot program offered by the IRS. It is important to be cautious of add-on fees when using tax prep companies, as some have been found to violate federal law by marketing free software to ineligible filers.
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Keywords: government taxation and revenue, personal finance, tax bill, state taxes, internal revenue service, business news, wealth, intuit inc, national taxes, tax refunds, tax planning, taxes,
Source: https://www.cnbc.com/2024/02/04/how-to-file-your-taxes-for-free-this-season.html