The IRS recommends using Free File. If you qualify for Free File, it can help you prepare your tax return. This is the best way to do it online and once it is ready you can file.
Free File uses guided tax preparation software. The IRS insists that is it free and it is safe. Therefore, you will receive your tax refund in full, at no extra cost. Even if you do not qualify for Free File, you can make use of Free File Fillable Forms.
What is more, the IRS claims that you can use Free File as an individual to request an automatic extension. It is done electronically and you can easily get a tax-filing extension.
WHAT THINGS CAN FREE FILE DO?
According to the IRS, Free File has 2 main key features. Guided tax preparation and fillable forms. For example, it can provide you with a free Federal return if eligible. What is more, it can answer simple questions you may have.
Once you have all the numbers ready, Free File and its guided preparation do all the math for you. The IRS reminds taxpayers that you can do tax filing on an Internal Revenue Service partner site.
Apart from that, some state tax preparation as well as filing are free too. Fillable forms can be very useful too, but you will have to do all the work. In fact, they are the same as the paper 1040 form.
It is only for taxpayers who know how to prepare their own taxes. If you do not know how to file a tax return, you should not use this option. It would be best to look for a tax preparer the IRS recommends.
THE IRS SAYS YOU NEED THESE THINGS TO GET STARTED
First of all, you will need some personal information. For example, take a copy of the 2022 tax return so that you can know your AGI. AGI stands for the Adjusted Gross Income.
Moreover, you will need your Social Security Number. Only valid SSNs are accepted. If you have a dependent or spouse, you will need their valid Social Security Numbers too.
Apart from your personal information details, you will need receipts and income. Take for example, Social Security benefits, Unemployment compensation. If you have a small business, you will need all your receipts.
The IRS also suggests having with you all the income receipts from rental, royalties, partnerships, trusts, real estate, or any other you may have. The deadline to file is April 15, and it will be open on January 29. File ASAP to get your money.