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IRS Provides the Cheapest And Most Effective Way to File Your Taxes

Mon Apr 13, 2015 17:24:12PM | Categories: Tax Preparation & Income Tax
Navy veteran filing his taxesBy: U.S. Navy
Are you thinking of going to a tax professional to have them help you file your taxes? That is an option, and a good one for many people, but it doesn't have to be the only option for many others. The IRS offers free e-filing for basic returns and has partnered with e-file.com to offer two more low-cost services for individuals and businesses who need additional services.

A variety of factors will determine which e-file you should use, but the cost of them tend to be cheaper than other online tax services or if you see a tax professional. Below is a breakdown of the three options that the IRS and e-file.com offer for tax filers.


1) Free Federal E-file

The Free Federal e-File can be used by any individual or joint filers who are claiming no dependents and aren't claiming their home mortgage on their taxes. Individuals who are independent contractors, have dividend income, or investment income are also ineligible to file the free e-file. And individuals aged 65 and older are also ineligible to file the free e-file.

This is a great tax filing options for millions of Americans. It costs you nothing and is easily the simplest return that you could file. All you need to do is input the amount you made from wages, tips, interest, and/or unemployment income and input the amount of taxes that have already been withheld. That's it.

If you qualify for the Earned Income Tax Credit (EITC) then your return will be increased or the amount you owe will be decreased.


2) Federal Deluxe Plus

The Federal Deluxe Plus option is for individuals or joint filers who are going to deduct their mortgage interest and wish to include their retirement income. This is also the plan you might want to choose if you are filing a 1040A.

So if you own your home or are currently drawing Social Security this this may be a good plan for you to use. E-file.com offers it for $18.99 when many other online tax filing companies charge upwards of $50.


3) Federal Premium Plus

The Federal Premium Plus option is for individuals who have the most complex taxes to file. This is the form filers would use if they are going to claim a variety of deductions and/or credits and for filers who are itemizing their tax return. If you have both business and personal tax income then this is the plan you should pick because they will help you sort out the two and ensure that everything is squared away for you.


E-file.com also offers free help with each and every one of these forms.

It may seem as if I'm a paid contributor for E-file.com, but I assure you that I'm not. What I am is someone who wants to make sure everyone knows that there is a cheaper way to file your taxes. Many people do not need to pay hundreds of dollars to have their taxes filed and the IRS offers you ways to make that happen.
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