IRS Free File
Finding Assistance with Your Taxes. By working with private tax software providers, the Internal Revenue Service (IRS) and qualifying individuals can offer free federal tax return preparation and filing through the IRS Free File program. In 2021, participants must have an adjusted gross income (AGI) of $73,000 or less to qualify for the program.
Taxpayers who want to use the IRS Free File program can visit the IRS website and choose a tax software provider from the list provided. Verifying each provider’s qualifying requirements is vital before signing up with them.
When you click on a service provider, you’ll be sent to their site, where you may use their tax preparation software. The program will walk you through inputting your tax data and then compute your tax bill and any credits or deductions to which you may be entitled.
You may e-file your tax return for free through the software provider’s website once you’ve finished it. Direct deposit allows you to get your refund quickly, usually within a few weeks after submitting your return.
While the federal tax return can be filed for free through the IRS’s Free File program, state tax returns and other features like audit protection and priority assistance may cost money from some software providers. When installing software from a certain supplier, you must read their terms and conditions in full.
Cash App Taxes
The Cash App is an electronic money transfer and mobile payment service. Using Cash App is no different from using any other payment provider regarding tax implications. Some items to remember are as follows:
- Payments received through Cash App that meet the criteria for taxable income must be included in your tax return. If you are a freelancer or contractor and get paid using Cash App, you must include this income on your tax return using Schedule C. (Form 1040).
- Keeping records: It’s important to keep accurate records of your Cash App transactions, especially if you use the service for business purposes. You can track your transactions through the Cash App app or website and export your transaction history for tax purposes.
- 1099-K: Cash App must file a 1099-K form with the IRS if you receive over $20,000 in gross payments and have more than 200 transactions in a calendar year. The 1099-K form will report your gross payments but won’t factor in any fees or expenses.
- Deducting fees: When filing your taxes, you may be eligible to deduct the cost of utilizing Cash App if you use it for business reasons. You may be allowed to write off your Cash App costs as a business expense, for instance, if you use their service to accept credit card payments on behalf of your company.
If you have any particular questions regarding how using Cash App may affect your taxes, it is highly recommended that you speak with a tax specialist.
MilTax for military families
MilTax is a free tax preparation and filing service offered by the Department of Defense in partnership with the IRS. It is designed to help military members and their families with their tax preparation needs.
MilTax offers several different services, including:
- Free tax software: MilTax offers free tax preparation and filing software through a partnership with a leading tax software provider. This software is designed for military members and their families and includes specialized tools and support.
- Free in-person tax assistance: MilTax offers free in-person tax assistance at military installations worldwide. These tax centers are staffed by trained professionals who can help you prepare and file taxes.
- Telephone tax assistance: If you have questions about your taxes, call the MilTax helpline to speak with a trained tax professional. The helpline is available year-round and can help with various tax-related issues.
An account on the MilTax website is required for use. You’ll also be able to locate a tax center in your area or dial the hotline if you need further guidance preparing your taxes for free.
MilTax is a great tool for service members and their families to use when they need assistance with their tax returns. Use these tools to take advantage of every aspect of your tax form and steer clear of trouble with the IRS.
In person: Free tax help for seniors
Free tax advice is available to seniors through the Tax Counseling for the Elderly program, which is staffed by volunteers with expertise in tax concerns that affect older adults. The IRS provides TCE in conjunction with local groups throughout the United States.
To find TCE services near you, visit the IRS website and use the VITA/TCE Locator Tool. Enter your ZIP code, and you’ll receive a list of local tax preparation sites offering TCE services. You can also call the IRS toll-free at 1-800-829-1040 to find TCE services near you.
When making use of TCE services, please bear in mind the following:
- Eligibility: TCE services are available to taxpayers 60 or older. However, volunteers may make exceptions for individuals with disabilities or who speak limited English.
- Services offered: TCE volunteers can help you prepare and file your federal tax return and answer questions about tax credits and deductions available to seniors. However, they may be unable to help with complex tax issues or assist with state tax returns.
- What to bring: When visiting a TCE site, be sure to bring all relevant tax documents, including your Social Security card, a photo ID, and any forms related to your income, expenses, and deductions.
Regarding tax time, TCE is an excellent tool for seniors who need assistance. These services can help you maximize your refund and avoid any audits or other problems with the IRS.
In person: Volunteer income tax assistance (VITA)
Volunteer Income Tax Assistance (VITA) is a program that offers free tax help to individuals and families who make $57,000 or less per year, individuals with disabilities, and limited English-speaking taxpayers. VITA is a federal program administered by the IRS and trained volunteers certified by the IRS provide the services.
To find VITA services near you:
- Visit the IRS website and use the VITA/TCE Locator Tool.
- Enter your ZIP code, and you’ll receive a list of local tax preparation sites offering VITA services.
- Call the IRS toll-free at 1-800-906-9887 to find VITA services near you.
Some considerations for using VITA services are as follows:
- Eligibility: VITA services are available to individuals and families who make $57,000 or less per year, individuals with disabilities, and limited English-speaking taxpayers. Volunteers may make exceptions for individuals who have other special needs.
- Services offered: VITA volunteers can help you prepare and file your federal tax return and answer questions about tax credits and deductions that you may be eligible for. However, they may be unable to help with complex tax issues or assist with state tax returns.
- What to bring: When visiting a VITA site, get all relevant tax documents, including your Social Security card, a photo ID, and any forms related to your income, expenses, and deductions.
Regarding tax time, VITA is a fantastic tool for people and families that need assistance. These services can help you maximize your refund and avoid any audits or other problems with the IRS.