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SEATTLE The Internal Revenue Service and the Free File Alliance announced Jan. 16 the launch of Free File, which makes brand-name tax software products and electronic filing available to most taxpayers in Washington.
Free File software can help taxpayers with tax preparation, including the health care law that will affect almost everyone. Washington taxpayers can use Free File software immediately but e-filed returns will not be transmitted to the IRS until Jan. 20, when the filing season officially begins.
Free File is available only at IRS.gov/FreeFile, thanks to a partnership between the IRS and the Free File Alliance, a consortium of 14 leading tax software companies.
About 70 percent of all federal tax returns come in below the $60,000 income level, says IRS Spokesman David Tucker II. Millions can use it to file a federal income tax return for free.
Nationally, more than 3.2 million people used Free File last year with nearly 76,000 coming from Washington.
Since 2003, more than 43 million people have used Free File, saving $1.3 billion based on a conservative $30-free estimate.
You dont have to be an expert on taxes or the new health care law. Free File software can help walk you through the rules and help you get it right, said John A. Koskinen, IRS Commissioner. For 12 years, this partnership between the IRS and the Free File Alliance had helped taxpayers save both money and time. The real winner in this partnership has been the nations taxpayers.
Taxpayers who earned $60,000 or less last year are eligible to choose from among 14 software products. For those who earned more, they are still eligible for Free File Fillable Forms, the electronic version of IRS paper forms. This more basic Free File option, which is best for people comfortable preparing their own tax return, Free File offers easy-to-use products that ask questions and supplies answers. The software will find the right forms, find the right tax credits and deductions and even do the math.
Free File also can help taxpayers with the new health care requirements. Almost everyone will need to do something new when filing a tax return this year. For each month in 2014, you and everyone on your return
Report health care coverage, or
Originally posted here:
IRS Free File launches; helps state taxpayers with new health care law
Free File 2015 opens Jan. 16
The 2015 tax-filing season doesn't officially start until Jan. 20. That Tuesday after Dr. Martin Luther King Day is when the Internal Revenue Service will start processing tax returns.
But if you want to be at the front of that tax filing line and qualify to use Free File, then you can start doing your taxes now.
Free File opened for business on Jan. 16. Free File companies will securely hold your completed tax return until the official full filing season starts on Jan. 20.
Fourteen tax software manufacturers are participating this year. They are FreeTaxUSA, Jackson Hewitt, 1040.com, OLT.com, TurboTax, Free1040TaxReturn, TaxSlayer, Tax Simple, Liberty Tax Service, FileYourTaxes.com, TaxACT, H&R Block, ezTaxReturn and 1040NOW.
Most follow the key Free File eligibility requirement that last year's adjusted gross income be $60,000 or less. That income threshold applies to all filing statuses.
Some of the companies, however, have other conditions. Their income levels are lower or they are open only to filers in certain states or they can be used only by taxpayers of certain ages.
Check the offerings carefully before making your choice. The IRS also has on online tool to help you decide. Use it. You don't want to be surprised like some users of certain commercial TurboTax packages were earlier this year.
And while Free File opens a few days before the full official start of the 2015 tax-filing season, most of the services also will let you file for an extension if you just can't complete your tax forms by April 15.
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Free File 2015 opens Jan. 16
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