Friday, March 21, 2014

How Do I file my Federal Taxes for Free and what do I need to get started?

How Do I file my Federal Taxes for Free?


Free Federal Taxes 2013
You can file your federal taxes free from the IRS.Gov website for Year 2013-2014. 

IRS provides an option to choose from the selected vendors based on your income (Free till your income is below $58,000) 


[Above link will open up IRS website to show vendors to provide free File ]
  • There are 14 commercial tax software companies that make their products available for free, only through Free File at IRS.gov.
  • Each company sets its own eligibility criteria, generally based on income, age, state residency, eligibility for the Earned Income Tax Credit and military status.
  • If your adjusted gross income was $58,000 or less, you will find one or more free software options.
  • Once at the company's website, review their information to ensure it meets your needs. For example, some offer free state tax returns, and some charge a fee.
If you are confused on which software you need to use, then IRS also provide an easy utility to answer your question. Fill out the required information and IRS will suggest which software will be preferable to you.  Suggest me which is suitable for me. [ http://apps.irs.gov/app/freeFile/jsp/wizard.jsp ]


What do I need to get started FREE FILE ?


To Start with your Free File, you need to have below things handy with you.

  • A copy of last year's tax return
  • Last year's 2013 Adjusted Gross Income (AGI) or last year's Personal Identification Number to verify your identity. Don’t guess, an incorrect AGI or PIN can cause your return to reject. Get an online Electronic Filing PIN, a five digit PIN from the IRS or call the IRS toll-free line at1-866-704-7388.
  • Valid Social Security Numbers for yourself and your spouse if applicable
  • Valid Social Security Numbers for your dependents if applicable
  • Forms W-2 from all of your employers
  • Forms 1099-INT showing interest paid to you throughout the year
  • Form 1099-G showing any refund, credit or offset of state and local taxes
  • All receipts pertaining to your small business if applicable
  • Forms 1099-DIV and Forms 1099-R
  • Income receipts from rental, real estate, royalties, partnerships, S corporation, trusts
  • Unemployment compensation
  • Social Security benefits
  • Other income
  • Valid email address - To get a notification from the Free File software company that your return was accepted by IRS, you need a valid email address
 You can find the above details on http://www.irs.gov/uac/What-you-need-to-get-started


  To know more about FREE FILE option available on IRS below are the introductory videos provided by IRS.





** All the information are taken from the IRS website. (http://www.irs.gov)

1 comment:

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