How do I use the IRS Free File tax forms?

By Peter Cherewyk AAA
A:

Free File is a way for taxpayers to prepare and file their federal taxes online for free. The service is available to individuals with adjusted gross incomes below a certain level - $56,000 in 2008. Firms that offer the service are part of the Free File Alliance, in partnership with the Internal Revenue Service (IRS). An easy way to find these free file fillable tax forms is to choose a company directly through the IRS Free File web page.

Select a company according to:

Once you have selected a company, you will be taken to the company's website so that you can start filling out the free tax return.

It is important to note that you will need to create a new account with the selected company. This will allow you to save your work as you go. After this step, you can start filling out your personal income information. Once this is complete, you may electronically file, or "e-file", the return. You will have the option of printing your return but usually only after filing. (Mastering these fundamentals now will take the stress out of tax season, learn more in Next Season, File Taxes On Your Own.)

Why Online?
By filing online, you could receive your return in as little as 10 days, compared to the approximate six to eight weeks for those who file traditional paper returns. In addition, it is generally faster to complete the forms the forms online. (You have the control to determine whether you owe in April. Learn more in How To Owe Nothing On Your Federal Tax Return.)

RELATED FAQS

  1. What are the best ways to lower my taxable income?

    Paying taxes is an unavoidable obligation each year, but individuals and business owners can take advantage of various strategies ...
  2. What is Value-Added Tax (VAT) and who pays it?

    Learn about the definition of value-added tax, the necessary circumstances that require a business to pay it and when a business ...
  3. What is the difference between gross income and earned income?

    Being able to distinguish between earned income and gross income is an important tool in preparing for and filing your individual ...
  4. What are the differences among gross income, adjusted gross income and modified adjusted ...

    Discover how calculating total taxable income is easier when gross income, adjusted gross income and modified adjusted gross ...
RELATED TERMS
  1. Deferred Tax Asset

    A deferred tax asset is an asset on a company's balance sheet ...
  2. Form 8949

    An Internal Revenue Service form implemented in tax year 2011 ...
  3. Buffett Rule

    A tax rule proposed in 2011, by President Barack Obama, stating ...
  4. Substitute Return

    A tax filing that the IRS will create for a taxpayer in order ...
  5. Benefits Received Rule

    1. A theory of income tax fairness that says people should pay ...
  6. Generation-Skipping Transfer Tax - GSTT

    A tax incurred when there is a transfer of property by gift or ...

You May Also Like

Related Articles
  1. Taxes

    How To Deduct All Of Your Charitable ...

  2. Credit & Loans

    7 Times It Costs More To Pay With A ...

  3. Investing News

    Munis, Midterms And What To Watch

  4. Investing Basics

    New 2015 Contribution Limits: Advisors ...

  5. Taxes

    The Most Helpful Tools On The IRS.gov ...

Trading Center