4 Best Ways to File Your Taxes Online

by | Personal Finance, Taxes

As an adult, filing your taxes can be a stressful experience. As a result, some people opt to outsource the job to professionals or use tax preparation software.

But if you’re looking for a more convenient–and less expensive–solution, consider filing your taxes online. Fortunately, there are several options available that make it easy and secure to get the job done without having to meet with someone in person or invest in high-priced software packages.

In this blog post, we’ll provide you with step-by-step instructions on how to file your taxes online so you can save money and time this tax season.

Why File Your Taxes Online?

Perhaps you’re used to filing taxes in person with a CPA or at a local tax office. You may be wondering why you should consider filing taxes online? Filing your taxes online is simply convenient and doesn’t have to replace the need for a CPA since many online programs allow you access to one. You can easily update your documents and save your progress if you need to come back to finish filing after gathering more information.

Legitimate digital filing options make it easier than ever before to submit accurate returns on time and ensure no money is left behind. Plus, many digital tax filing programs use a licensed CPA to review your tax forms and answer any of your questions If you need further assistance.

1. IRS Free File

IRS Free File is a program that allows eligible taxpayers to file their federal taxes for free using software from participating tax preparation companies. To be eligible for IRS Free File, taxpayers must have an adjusted gross income of $73,000 or less.

To get started, you must go directly to the IRS website, here, and select the ‘IRS Free File’ option. Then, you’ll be redirected to an IRA partner’s website to create an account and prepare your e-file tax forms. Once you’ve submitted your completed tax forms, you’ll receive an email that the IRS has accepted your return.

2. TurboTax Free Edition

TurboTax is one of the most popular ways to file your taxes online. However, you may not know about the TurboTax Free Edition. This program allows eligible taxpayers to file their federal taxes for free using TurboTax software. To be eligible for TurboTax Free Edition, you must have a simple tax return using a 1040 A form. Only these following situations are covered:

  • W-2 income
  • Limited interest and dividend income reported on a 1099-INT or 1099-DIV
  • IRS standard deduction
  • Earned Income Tax Credit (EIC)
  • Child Tax Credit (CTC)
  • Student loan interest deduction

If you have itemized deductions, 1099 income, stock sales, or unemployment income to report, you won’t be able to use the free TurboTax version. Turbo Tax is still a pretty affordable option if you’re looking to file your taxes online and prices start at just $39 to $69.

3. H&R Block Free Online Tax Filing

H&R Block Free Online Tax Filing is another program that allows taxpayers to prepare and file their federal taxes for free. The program is available to taxpayers with a simple tax return including federal and state taxes and student loan interest deductions. Taxpayers can use the program to file their taxes electronically or print and mail their tax return.

H&R Block also allows you to get unlimited live help from their professional tax experts via screen share or live video chat. That way, you get all the support you need to know you’re filing everything correctly and maximizing your return.

If you have a more complex tax situation that includes 1099 income, investments, or if you’re interested in digital information storage for up to 6 years, H&R Block offers paid tax filing services starting at $35 to $55 per month.

4. TaxACT Free File Edition

TaxACT Free File Edition is a program that allows eligible taxpayers to file their federal taxes for free using TaxACT software. To be eligible for TaxACT Free File Edition, taxpayers must be between the ages of 20 and 58 and have an adjusted gross income of less than $73,000.

If you qualify to file a free federal return with TaxAct, you may also be able to file your state taxes for free if you reside in one of these states:

  • Arkansas
  • Iowa
  • Idaho
  • Mississippi
  • Montana
  • North Dakota
  • Rhode Island
  • Vermont
  • Washington
  • West Virginia

TaxAct offers customer support that’s available 7 days a week. More than 90 million federal returns have been e-filed on the platform since 2000 and you also get a $100 Accuracy guarantee when you file your taxes.

Consider Filing Your Taxes Online This Year

If you qualify for any of these free options, you should definitely try to file your taxes online this year. Even if you’re not super savvy on the computer, these platforms are very user-friendly and also give you full access to trusted tax professionals should you ever need any help.

Disclaimer: This article is meant for educational purposes and should not be taken as tax advice. Please seek out an accounting professional if you have specific tax-related questions. 

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