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IRS: When should you file your taxes for free and possibly save $100s?

The IRS started accepting returns on Jan. 24, meaning tax season is happening now and if you haven’t filed, there is help available.

IRS tax return forms to submit for a tax refund

There are various options for free filing your tax returns.

The free services are available to those who meet eligibility requirements.

It’s a good idea to look into the different options to see what you may qualify for and which works best for you.

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Here are three options for filing your tax return for free with the IRS

IRS Free File

The IRS offers a free service themselves.

This is a partnership between the IRS and various tax prep and software companies to offer services to people who need it.

There is guided preparation for those earning $73,000 or less.

If you make over that, you can still use the electronic tax forms.

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Private companies

Places like H&R Block offer free basic and simple filing for some.

There is no fee for state tax prep at the basic level.

There are also free services for those who report retirement income, EITC, and child tax credit.

If you have a more complex return, you may need to pay additional fees.

Intuit

Intuit owns TurboTax, and they offer a free start for simple returns.

It’s best for those using a W-2 to file their return.

If you’ve used the service before, you can transfer information over to save time.

There are disqualifying factors for this services.


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This includes:

  • Itemized deductions
  • Unemployment compensation reported on a 1099-G
  • Business or 1099-NEC income
  • Stock sales
  • Rental property income
  • Credits, deductions, and income reported on Schedules 1-3
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