If you are preparing and e-filing your 2010 federal tax return you may be able to do so for free with the IRS’s Free File program. This program is the result of a public-private partnership with the IRS and popular companies that provide tax software. The Free File program allows you to file taxes quickly, safely, and free of cost.
You have two options through the program: the user-friendly software or the online forms.
To be eligible for the Free File program, you must earn $58,000 or less per year.
Nearly 70 percent of American taxpayers (about 100 million people) are able to use the free and secure brand-name e-filing software from companies in the private sector. Many of these products are even offered in Spanish. Each company has a different set of eligibility requirements, which are typically based on state residency, age or income. If your income in 2010 was less than $58,000, then you are guaranteed access to at least one product.
To do so, you must use the Free File system on the IRS site. Go to the IRS site, IRS.gov and look for the Free File program. The web tools will ask you to provide some basic personal information, and will find the software that you need and are eligible for. You could also browse the complete list of tax software companies and select the one that you want.
Once you have selected the tax software you will use, then the IRS site will redirect you to the software company’s site. At that site, you will be walked through the process of filing your taxes.
Free File takes care of the work for you. It will help you find special tax discounts and credits. Just answer all the questions that the software asks, and it will provide you the proper forms and do the calculations. The program boasts a 98% satisfaction rate, and if you select the direct deposit refund option, you could see your refund in as little as ten days.
The Free File companies all use the newest technology when it comes to safety and security of your information. Since 2003, 30 million Americans have safely used the program.
Some companies will also offer you the option to file state taxes, but you might need to pay a fee for this. However, some states are a part of the Free File alliance, and the company site will list these states.
The Free Fill-able Forms Option:
If you make more than the $58,000 cap, you can use the Free Fill-able Forms. You can also find this at the IRS site. You won’t receive software assistance, but the program will help with basic calculations. It also won’t help with state income taxes. But, it’s a good option for the DIY taxpayer with past experience completing their own taxes. You can also use the free IRS e-filing option.