There are a lot of reputable tax accounting companies that offer the basic versions of their tax filing software at absolutely no cost. You do not have to meet any income requirements to access this free software. But in most cases, you will need to have a pretty simple tax return for the free tax filing software to meet your needs.
For instance, if you only have one or two W-2’s, and are single with no dependents, then you can probably get away with using free, basic, tax filing software. However, there are other circumstances that may require you to visit a tax preparation specialist. Even if you are able to file using free and basic software, a tax preparation specialist can ensure you get the best refund you qualify for.
If you are a freelancer, collect rent as part of your income, or have inherited money in the past year, then you will probably need more comprehensive tax software. However, you may be able to find online deals to get software at a low cost.
H&R Block is one of the most well-known and reputable free tax software companies. In addition to offering a free edition of their tax software, H&R also has a partnership with United Way called MyFreeTaxes. This program gives free tax filing assistance to those who make meet the income requirement.
Here are some of the other companies that usually have free, basic, tax filing software available for taxpayers.
- Online Taxes at OLT.com
- TaxAct Free File
- Turbo Tax
- 1040.com Free File Edition
- Credit Karma
- eSmart Free File Edition
Make sure that you pay attention to disclosure agreements and other fine print when you sign up for free tax software programs.
It is a good idea to familiarize yourself with common tax scams so that you can avoid getting taken advantage of.
Learn about tax scams on the following slide.