Filing Taxes Online is Free for Millions of Americans

Filing Taxes Online is Free for Millions of AmericansWhile it may not be the favorite time of year for many, tax time, especially for those expecting a tax refund, should be something to look forward to. There are a number of ways to file federal income taxes, and thanks to the internet and a number of companies and the IRS, filing taxes online can be free and easy for a large majority of Americans.

Who can file taxes for free online? The answer varies slightly depending on how a person decides to filing online, also referred to as e-file. Most of the most well-known online tax filing companies like Turbo Tax and H&R Block offer programs for free online federal income tax filing in addition to paid programs.

Typically their free programs are based on the type of tax form filed, and an individual’s tax situation. For most Americans, who work a regular job, do not itemize, and receive a W2 from their employer, the only need to file an IRS form 1040EZ, also called a “short form.” If you meet this criterion, filing taxes online will most likely be free.

For those who need to itemize, or have a side business or other complex tax situations, these companies offer very simple yet thorough online tax filing solutions in most cases for well under one hundred dollars. Also, if you are not sure which form to use, or whether to itemize, most of these online tax filing services will take you through the process step-by-step, and then let you know the best way to file for the maximum refund.

On its own web site at IRS.gov, the IRS also offers free federal income tax filing for millions of taxpayers through its freefile online tax filing program. The free program is available based on a person’s Adjusted Gross Income (AGI). For 2012, those who have a taxable income of $57,000 or less qualify for the free program. However, for those with higher incomes, the IRS program still offers tax advice, tax forms and assistance.

About Ed Dixon

Ed Dixon - as an experienced writer and proven business leader, Mr. Dixon is the primary contributor for news related to Business and Finance. ed_dixon@newstaar.com