Tax season is finally upon us. If you are getting ready to file your taxes without assistance, then you should be aware of several options that allow you to file for free. You could use the IRS’ Free File program if you have an adjusted gross income of $69,000 or less.
Several years ago, the IRS partnered with multiple businesses who offer free digital filing services for certain people. Depending on whether you qualify, you could use free software that helps you file your taxes.
Filing Your Taxes With Free Software
You can go to the IRS website to find a list of companies who offer free filing services. Keep in mind, each company has different eligibility requirements. Some of the options require that you make $36,000 a year or less. There could be additional requirements, so be sure to carefully research your options.
You might have several options you can choose from. Once you make your selection and gather your necessary paperwork, you can sign up and file your taxes for free. You can also receive your tax refund through a direct deposit. However, it can take two weeks or more to receive these funds.
To make the process easier, make sure you have the following documents before you begin filing your taxes:
● Social Security card
● W-2 or 1099
● Additional income forms (grants and scholarships may apply)
● Copy of prior tax return
● Driver’s license or identification card (some online services require this for a direct deposit)
● Your bank account and routing number (for direct deposit)
Depending on your personal situation, you may need additional forms to file your taxes. You should also make sure that your parents are not claiming you as a dependent. There are additional tips for young and first-time filers on the IRS website.
Younger taxpayers may have an easier time filing, as their financial and tax situation is not as complex as those who may be older. Unsurprisingly, the IRS claims that a majority of tax filers who use its Free File program are 30 years old or younger.
Using Free Tax Filing Services in Kansas City
There are also free tax filing options in Kansas City if you need in-person assistance. United Way of Greater Kansas City operates a Volunteer Income Tax Assistance (VITA) program for qualifying taxpayers.
If you meet the requirements for VITA services in Kansas City, then you can receive free in-person assistance while filing your taxes. You can review VITA sites in Kansas City by visiting Connecting for Good’s website.
You can also use the IRS website to track down VITA programs in Kansas City. Be sure to bring relevant documents and identification with you if you plan to use a VITA service. VITA programs may allow you to schedule an appointment with a qualified professional ahead of time. Using a VITA also makes it much less likely that you will make a mistake while filing your taxes.
More Important Information About Taxes
You may also need to recertify an income-driven repayment plan for student loans around this time of year.
If you are enrolled in an income-driven repayment plan, or IDR plan, then you should consider filing your taxes earlier rather than later. This is because the Department of Education’s website allows you to pull your tax information directly from the IRS while recertifying. The feature streamlines the recertification process by allowing you to upload your tax information.
You could potentially recertify in less than 30 minutes if the information is available. However, it can take a few weeks after filing your taxes before your tax information is available for use.
Trust us when we say that you do not want to “forget” to recertify, especially if you are using automatic payments through your bank.
About Our Kansas City Bankruptcy Law Firm
The Sader Law Firm is a Kansas City bankruptcy law firm with decades of experience helping individuals who are struggling with financial issues. If you have questions about filing for bankruptcy on income taxes, then we encourage you to schedule a consultation with us. You can dial (816) 281-6349 or use the contact form on our site to schedule a consultation.