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Here’s What You Need to Know About the Upcoming Tax Season

admin by admin
January 21, 2022
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Here’s What You Need to Know About the Upcoming Tax Season

The program—which is what it sounds like—allows taxpayers with an Adjusted Gross Income (or AGI) of $73,000 or less in 2021 to file their taxes electronically for free using software provided by commercial tax filing companies.

You can find your AGI on line 11 on your Form 1040. The amount includes income, less adjustments, and is calculated before claiming the standard or itemized deductions. Statistically, most taxpayers are eligible for Free File.

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You can do your taxes now if you use Free File, even though the filing season hasn’t yet opened. Click over to IRS.gov/freefile to see the Free File options. The Free File provider you choose will submit your return once the IRS officially opens tax season and starts processing tax returns.

Not every Free File partner has the same eligibility criteria—it can vary based on income, age, and state residency. Additionally, some but not all Free File partners offer free prep and filing for state returns. Check the fine print before you start your return since any state preparation or non-qualifying fees are required to be disclosed on the company’s Free File landing page.

You can only file your current year tax return—the 2021 tax year—using IRS Free File. You cannot process a prior year return using IRS Free File.

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