| You now have the opportunity to file your taxes free | | | | you spend will depend on your individual tax situation. |
| online. The IRS has partnered with several private | | | | The online preparation software will walk you through |
| companies to help eligible taxpayers prepare and file | | | | step by step, saving you time by doing calculations and |
| their federal tax returns for free. Generally, taxpayers | | | | figuring out which forms to use. It will also ask and |
| who are age 51 or younger and who have an | | | | answer tax questions over a broad range of topics |
| adjusted gross income (AGI) of $57,000 or less are | | | | including tax terminology and IRS regulations. Filing |
| eligible to file their taxes online with most of these | | | | taxes is now easier than ever. |
| private companies. The program is known as the "free | | | | The free file program is for your federal return only. |
| file" program which includes companies that are part | | | | State returns must be filed with the individual states |
| of the Free File Alliance (FFA) will file your tax returns | | | | separately - at an additional cost if you choose to use |
| online for no charge. | | | | the same private company that helped you prepare |
| Filing online (E-Filing) through the free file program is a | | | | your free federal return. However, you can usually file |
| great alternative to preparing your taxes on paper | | | | your state returns online on the state's web site for no |
| forms that you must mail to the IRS. You avoid the | | | | charge. If your state does not offer e file online, they |
| long lines at the post office, the cost of postage, and | | | | will almost always have the state forms available in a |
| the risk of your return being lost in the mail. Your tax | | | | pdf format for you to print and fill in so you can just |
| returns are filed electronically over a secure internet | | | | mail them in. Check your state's web site for more |
| connection known as the "Secure Transmission | | | | information. |
| Control Protocol". This is the highest industry standard | | | | Once you have completed your tax return online, the |
| when it comes to safeguarding personal information. | | | | private company will electronically transmit your return |
| Look for a "padlock" or "key" icon in the bottom of | | | | to the IRS. Usually within 24 hours, the IRS will accept |
| your browser whenever sending personal information | | | | or reject your return. You will be notified by email. So it |
| online to be sure you are in a secured transmission | | | | is still important not to wait until the last minute to file |
| environment. | | | | your return. Give yourself at least 5 days before the |
| There are several strict regulations that will determine | | | | April 15th deadline. That way, if the return is rejected, |
| if you are fully eligible to file your return through the | | | | you will have time to resolve any problems in your |
| free file program. Not all returns can be filed through | | | | return and resend it before the deadline. Even |
| the free file program. Also, each individual private | | | | electronic returns must be filed by midnight April 15th! |
| company may have different eligibility requirements. | | | | To summarize, the free file program is a public-private |
| For example, some companies will not e file your | | | | partnership between the IRS and participating online |
| federal return in all states, some companies may have | | | | tax preparers who are members of the Free File |
| different age requirements, while others will have lower | | | | Alliance. Each private company has its own eligibility |
| gross income requirements. You will need to check | | | | requirements. The free file program does not include |
| each company's web site to determine what | | | | individual state tax returns, so you must file those |
| restrictions apply to you and which forms are available. | | | | separately - at an additional fee. Electronic returns (or |
| For simple tax returns, such as the 1040ez, you should | | | | extensions) must be filed by the same April 15th |
| be able to prepare and file your return in less than an | | | | deadline as their post marked paper counterparts. |
| hour. For more complicated returns, the amount of time | | | | |