![]() TurboTax isn’t the first or only big name in tax preparation to opt out, though. Stay Safe: How To Protect Your Tax Refund From Being Stolen TurboTax’s Free File Change Comes After H&R Block Did ItĪs mentioned previously, TurboTax used to participate in the IRS Free File program but has opted out as of July 2021. Hence, many people will find this program better than using Free File. As the IRS notes, it specializes in questions about pensions and retirement-related issues unique to seniors. Currently, the program is available to those ages 60 and over. There is also a free filing program available for older taxpayers called Tax Counseling for the Elderly (TCE). But there are other ways to qualify that don’t change, including people with disabilities and those who speak limited English.ĭon’t Miss: 30 Ways To Prevent a Tax Audit IRS Tax Counseling for the Elderly As is usually the case, the income threshold is subject to change. ![]() The IRS’ Volunteer Income Tax Assistance (VITA) program is available to those with an income of $58,000 or less for tax year 2021. As you’ll see here, there are other options for those who aren’t eligible for Free File or simply want some other choices. We’ve covered the services listed on the IRS website, but those aren’t the only options for free tax prep. Read: The Tax-Filing Mistakes All Retirees Make Other Free Tax Preparation Options Not every provider is available in every state, though, and several have income restrictions that differ from the $73,000 limit. The IRS actually makes it quite easy to find a Free File option as of this writing, there are eight different providers that offer services through Free File. Learn: Taxes 2022: Are Face Masks and Hand Sanitizer Deductible? How To Find a Free File ProviderĮven without TurboTax as an option, you still have a slew of options for free filing if your income is below the $73,000 threshold. ![]() However, you won’t be able to use the Guided Tax Preparation service. If your AGI is higher than $73,000, you can still use the free fillable forms on the IRS website. For tax year 2021, the adjusted gross income (AGI) limit to use Free File is $73,000, up from $72,000 in tax year 2020. This service allows you to prepare and file your tax return online for free, but there is an income limit for the tax preparation service. The first thing to know is that not everyone is eligible to use what the IRS calls Guided Tax Preparation. Indeed, you shouldn’t have to pay for tax preparation unless your income is too high or you simply opt for a paid service. But that couldn’t be further from the truth - taxpayers still have plenty of free options. ![]() Hence, one could easily assume that the elimination of TurboTax from the program leaves them with few options for free tax filing this year. And given that TurboTax is one of the biggest names in tax preparation, it goes without saying that many people have relied on the company for free tax prep in the past.įind Out: Tax Prep 2022: AARP Offers Free Assistance - What Documents Will You Need To Provide? That’s big news because the Free File program helps millions of low- and middle-income Americans file their taxes for free every year. In July 2021, TurboTax announced it would no longer participate in the IRS’ Free File program.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |