April 18, 2023 is fast approaching — have you filed your taxes yet? If you’re putting off this necessary evil due to cost, you might be surprised to learn there’s free filing software available online. Here are the top six programs to help you tackle your taxes.
Don’t Pay to File Your Taxes
Though it’s wise to see a professional or use premium software if you have complicated taxes, many people can file their returns for free online. Most filing programs are accessible for people in certain tax brackets or only provide free filing services for either federal or state taxes. Regardless of your situation, odds are you’ll save some money. Here are the six best programs to check out.
File for Free With the U.S. Government: IRS Free File
You can use the IRS Free File program to file your federal tax return without paying a penny. If you want to file your state taxes, it may not be free depending on which IRS Free File provider software you use. In general, this program only allows people with an adjusted gross income of less than $73,000 to file their federal taxes for free — that means most Americans qualify for it.
IRS Free File
IRS Free File is a foolproof free option for filing federal taxes.
User-Friendly Filing: TurboTax
TurboTax makes it easy to do your taxes and has a free version for taxpayers with simple returns. It supports limited 1099 interest and dividend income, child tax credit, W-2 income, 1099-K income, student loan interest, and Earned Income Tax Credit. You’ll have to upgrade to the paid version if you receive unemployment, own a business or rental property, want to itemize deductions, sold investments, or qualify for additional credits.
TurboTax Free Edition
For taxpayers with simple state and federal tax returns, TurboTax Free Edition is a great option for filing.
File Taxes Easily: H&R Block
One of the benefits of using H&R Block’s free tier is its simplicity. The software allows you to simply take a photo of your W-2, upload it, add your information, and get straight to filing.
You’ll have to pay for an upgrade if you’re self-employed or pay investments, mortgage interest, or real estate taxes. The free version supports student loan interest, qualifying tuition payments, W-2 income, retirement income, credits and deductions, Child Tax Credit, and Earned Income Tax Credit. The software lets you file both state and federal returns.
H&R Block
H&R Block offers a user-friendly solution for taxpayers with simple tax returns.
No Upsells: Cash App Taxes
Formerly known as Credit Karma Tax, this program offers free state and federal filing regardless of the credits or deductions you choose. You do have to download and set up Cash App (iOS/Android) on your phone to use it.
This highly rated app features a tax calculator. It also comes with a maximum refund guarantee, meaning if another service calculates a better tax refund, the app will reimburse you for its mistake. If you choose to receive your refund in the app, you can get it up to two days early.
Cash App Taxes doesn’t support multi-state filing. That means you can’t use the app to file your state returns if you lived or worked in more than one state. It also doesn’t work for people with K-1 income.
Cash App Taxes
Cash App Taxes offers free state and federal filing no matter what deductions you have.
Claim Deductions At No Extra Cost: TaxAct
Although filing state returns isn’t free with this software, TaxAct has a lot of free options for completing your federal returns. It’s free for taxpayers with education expenses like textbooks and course fees — although not student loan interest — or W-2 income. It’s also a good option for parents who want to claim the tax deduction for having children.
You’ll need to pay for the upgraded version to include your student loan interest, childcare expenses, charitable donations, or traditional IRA contributions.
TaxAct Free
TaxAct Free offers free filing for federal tax returns and offers free filing for simple returns and educational expenses.
File Simple Federal & State Returns: TaxSlayer
TaxSlayer lets you file your federal and state taxes. This software offers a version called TaxSlayer Simply Free for people with simple tax returns, so you might qualify if you have no dependents and earn less than $100,000 in taxable income. The free version lets you claim education credits, student loan interest deductions, or the standard deduction so you can maximize your refund.
If your return is a little more complicated, you’ll have to use TaxSlayer’s paid version. You’ll need to pay for the service if you want to include your Earned Income Tax Credit on your return. Likewise, if you’re self-employed, want to claim a Child Tax Credit, or like to file itemized deductions, TaxSlayer Simply Free won’t cover it.
The upside of using TaxSlayer is it will import your data from last year’s tax return for free, even if you used another filing service. It also features a step-by-step guide that makes filing basic 1040 tax returns easy. TaxSlayer offers phone and email customer support if you need extra guidance.
TaxSlayer Simply Free
TaxSlayer offers free federal and state filing for taxpayers with simple tax returns.
Don’t Pay for Federal Taxes: FreeTaxUSA
FreeTaxUSA is a great option for filing federal income taxes for free. This option supports one free tax return and all IRS forms most taxpayers will be required to file. In order to file state taxes with FreeTaxUSA, you’ll have to pay $14.99.
FreeTaxUSA doesn’t offer as many features as some other services, but it has exceptional support for common questions taxpayers may have with a simple, easy-to-use interface.
For any questions you may have, FreeTaxUSA offers chat and phone support for technical problems or tax-related inquiries.
FreeTaxUSA
FreeTaxUSA offers free federal tax filing, with state returns starting at $14.99.
While most people aren’t exactly excited to file their tax returns, the process doesn’t have to be complicated. Get your annual taxes done without breaking the bank by using free software. Before you know it, you’ll likely have a nice refund to reward you for your efforts.
