Taxing Times: Can I File My Taxes For Free?
A small percentage of taxpayers qualify for the IRS Free File program.
Having someone else file your taxes can get pricey. And after the year the average American has had, paying a couple hundred bucks might not seem ideal.
I’m not an expert, but we talked to lots of them and asked: Can I file my taxes for free, and it is a good idea?
"The IRS has a program which is called Free File, and many people don't know about it. A small percentage of individuals actually use this program," said Kemberley Washington, tax analyst with Forbes Advisor.
According to the IRS, 100 million Americans — or 70 percent of taxpayers — qualify for the IRS Free File Program. But only about 3 million people use it. If you make $72,000 or less a year, you may qualify.
"There are certain limitations to be able to use this software. It doesn't include a state filing," said Rhonda Collins, director of tax content and government relations at the National Association of Tax Professionals.
And at least one expert warns just because you can file your taxes for free doesn't mean it's the best idea.
"2020 is probably a year that even if your year was pretty simple, you probably ought to get a tax pro to help just from all the tax law changes and other life changes you might have experienced that might result in a benefit or a credit or just simply a bigger refund," said Mark Steber, chief tax information officer at Jackson Hewitt Tax Service.
For more information on the 2020 tax season, visit newsy.com/TaxingTimes.
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