Free Income Tax Preparation Programs
- Free tax preparation programs ease the headache of traditional tax prep.TAX TIME image by brelsbil from Fotolia.com
Taxpayers across America dread the month of April, often fearing stacks of confusing papers and collections of crisscrossing calculations. Since the late 1990s, many taxpayers have made the switch to free income tax preparation programs supported by the Internal Revenue Service's Free File program. These electronic programs come in the shape of browser-based online tax forms, offering automatic calculations as well as free preparation and electronic filing for users who meet certain income qualifications. - TurboTax offers free online tax preparation and e-filing for users in all U.S. states who have an adjusted gross income (AGI) of $31,000 or less, who qualify for the Earned Income Tax Credit (EITC) or who earn $57,000 or less while on active military duty. Using a browser-based interface, users input tax and financial information in form fields and submit these forms via free e-file (electronic file, free only for users who qualify for free prep). TurboTax calculates forms automatically, and arranges refunds via direct deposit from the IRS within eight to 15 days. Forms covered by TurboTax's no-cost Freedom Edition include 1040EZ, 1040A, 1040, 1099 varieties and dozens more. TurboTax guarantees 100 percent accurate calculations and offers data security and full online technical support. Filers have the option of putting part or all of their refunds toward U.S. Savings Bonds. Residents of 20 states may file state taxes for free. TurboTax's Tax Freedom Project has prepared more than 20 million free returns since its 1998 debut. TurboTax offers free extensions.
- The popular TaxSlayer is also a browser-based online tax preparation and e-file program. This program presents free use to taxpayers who are under 25 or older than 65 years of age with an AGI of $57,000 or less, are active in the United States military, qualify for the EITC or earn $10,000 or less regardless of age. Federal tax preparation and e-file forms are valid in all states, while 43 states support e-filing via TaxSlayer. TaxSlayer provides all forms necessary to file individual taxes, and automatically calculates tax preparation via user input into streamlined forms. Refunds arrive via electronic mailed check (with an estimated 18- to 28-day arrival time) or direct deposit (arriving in around 10 to 18 days). Other features include online technical support and encrypted security. TaxSlayer features free extensions.
- An authorized IRS tax provider, CompleteTax offers online browser-based tax preparation and e-filing, free for users with an AGI of $31,000 or less. Using this service, taxpayers in all states may complete federal taxes, while residents of 42 states may complete state taxes. CompleteTax's automatically calculating online forms take investments, adjustments, deductions, IRAs and other taxes into account. The dozens of supported federal forms include 1040 varieties, Schedules "A" through "W," 1098s, 1099 options and more. Refunds arrive within two weeks via direct deposit or within four weeks via U.S. Mail. Users may check the status of refunds before they arrive. CompleteTax features email based support, secure data protection and a detailed tax guide that answers common questions. The CompleteTax program includes free extensions.
