Did you know you may be eligible to file your taxes for free? Several free filing options are available, depending on your age, state of residency, and income. You can find a free tax filing option if your Adjusted Gross Income (AGI) is $79,000 or less.
In order to move forward, you will need to determine your AGI for 2023. This information will help us explore the best options available and make informed decisions. Let’s take a moment to calculate your AGI so we can confidently move ahead.
Step 1: Calculate your total income by adding up all sources of income you receive. Typical forms of income may include:
- Wages
- Retirement income
- IRA distributions
- Dividends
- Capital gains
- business profits
- interest earned
- Investment income
- Social security
- Tips
- Rental income
- Dependent care benefits
- Employer-provided adoption benefits
Medicaid waiver payments
Step 2: Sum up the adjustments made to your income. These adjustments may include:- Half of the self-employment taxes you paid
- Self-employment health insurance premiums
- Applicable donations to IRAs
- Student loan interest
- Unreimbursed educator expenses
Your AGI is your total income minus your total adjustments.
IRS File Free
The IRS has collaborated with several tax software providers to offer free access to those who meet the requirements. Each provider has its own set of criteria for eligibility. Please visit the provider’s website to determine if their free service is available in your state. Below is a list of the IRS’s trusted partners and a link to their websites.
| 1040 NOW | AGI < $68,000 | Any age | https://www.1040now.net |
| Drake | $17k<AGI<$68k | Any age | https://www.1040.com/ |
| EzTaxReturn | AGI < $79,000 | Any age | https://www.eztaxreturn.com/ |
| FileYourTaxes | $8.5k<AGI<$79k | < 65 | https://www.fileyourtaxes.com/ |
| On-Line Taxes | AGI < $45,000 | Any age | https://www.olt.com |
| Tax Act | AGI < $79,000 | 20 – 54 | https://www.taxact.com/ |
| Tax Hawk | AGI < $45,000 | Any age | https://www.taxhawk.com |
| Tax Slayer | AGI < $44,000 | Any age | https://www.taxslayer.com/ |
The IRS has a tool to help you determine which of these trusted partners is right for you: https://apps.irs.gov/app/freeFile/general/
- Go to IRS.gov
- Click “File your taxes for free.”
- Select “Explore Free Guided Tax Software”
- If you are a first-time free tax filer, select “Find Your Trusted Partner(s)” to find the right preparer for your situation. Or you may browse all the IRS-trusted partners.
- Once you use IRS File Free, you will receive an email from the company you used with a link to file for free next year.
Check back next Tuesday for another tax tip to help you decide whether to itemize your deduction or take the standard deduction.
Susan's Reflections 