Filing your taxes doesn't have to cost you money. Even though the new Form 1040 that all tax filers will file this year is a one-page document with just 23 lines, preparing taxes can be daunting for some. The new Form 1040 replaces the old 1040 as well as the Form 1040A and Form 1040EZ. For most tax filers with simple situations, such as income from one job, no children, one Form W-2 and no other deductions or credits to claim, the new Form 1040 is what they'll need to file their taxes. In many cases, taxpayers can file their returns for free. Here are a few of the free options available:IRS FreeFileQualified taxpayers can use FreeFile to file their federal taxes via TurboTax, H&R Block and 10 other private software providers. It's generally open to anyone earning less than $66,000, although software providers have their own eligibility criteria.The IRS estimates about 70 percent of Americans are eligible for FreeFile. There are options for free state preparation as … [Read more...] about 2019 tax returns: How to file your taxes for free
How to file income tax returns
Dear Savvy Senior: What are the IRS income tax filing requirements for retirees this tax season? My income dropped way down when I had to retire last year, so I’m wondering if I need to file a tax return. — Retired Ron Dear Savvy Senior: What are the IRS income tax filing requirements for retirees this tax season? My income dropped way down when I had to retire last year, so I’m wondering if I need to file a tax return. — Retired Ron Dear Ron: Whether or not you are required to file a federal income tax return this year depends on how much you earned in 2018, the source of that income, your age and your filing status. Here’s a rundown of this tax season’s IRS tax filing requirement thresholds. For most people, this is pretty straightforward. If your 2018 gross income — which includes all taxable income, not counting your Social Security benefits, unless you are married and filing separately — was below the threshold for your filing … [Read more...] about Do I need to file a tax return this year?
STATEN ISLAND, N.Y. -- The Internal Service Revenue (IRS) recently announced it has launched its new version of the IRS Free File, which will allow eligible taxpayers to file their tax returns for free.The free online software program, accessible only through IRS.gov, is available for taxpayers to begin using in advance of the start of the filing season on Jan. 28. According to an IRS news release, a number of changes were made to Free File this year that strengthened the program to make it more taxpayer-friendly.The public-private partnership between the IRS and the Free File Alliance provides free, brand-name tax software and free electronic filing to taxpayers who earned $66,000 or less last year.“Free File is an important tool that allows taxpayers free access to electronic filing of their tax returns,” said IRS Commissioner Chuck Rettig in a news release. “The program has been a great partnership with the private sector, and we’ve taken steps to improve … [Read more...] about IRS launches online program to file your taxes for free
U.S. Filing taxes can be a stressful and confusing process and while some services can cost hundreds or even thousands of dollars, there are multiple options available for those who want to file returns without spending any money. Tax season will officially begin on January 28, which is when the Internal Revenue Service (IRS) will begin accepting tax returns. Since the government shutdown began, the agency was working with about 12 percent of its staff, but furloughed workers will be called back to work to help during tax season. Although there was speculation that the shutdown would affect taxpayers receiving their refunds, the IRS said that as returns were processed, refunds would be issued in a timely fashion. Filing Your Taxes Yourself The first option taxpayers have for filing without spending any money is to do their tax return themselves without the help of any services. The IRS heavily recommends submitting a return digitally, as it can prevent a … [Read more...] about How to File Your Taxes for Free: IRS Offers Services for Eligible Taxpayers
Tanza Loudenback, provided by Published 1:33 pm CST, Friday, January 11, 2019 The Internal Revenue Service (IRS) headquarters stands in Washington, D.C., U.S., on Tuesday, Jan. 8, 2019. The IRS will issue refunds to taxpayers even if the U.S. government shutdown extends into the filing season, a decision that may reduce political pressure on Congress and President Donald Trump to reach a deal to reopen the federal government. Photographer: Andrew Harrer/Bloomberg less The Internal Revenue Service (IRS) headquarters stands in Washington, D.C., U.S., on Tuesday, Jan. 8, 2019. The IRS will issue refunds to taxpayers even if the U.S. government shutdown extends into the filing ... more Photo: Andrew Harrer, Bloomberg Photo: Andrew Harrer, Bloomberg Image 1 of / 1 Caption Close Image 1 … [Read more...] about How to file your tax return for free online this year