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☆ IRS expects ‘a million returns' every hour on Tax Day, commissioner says. What last-minute filers need to know
▼ + stars: | 2024-04-15 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

If you're missing tax forms, the tax deadline is your last chance to file an extension, which pushes the filing deadline to Oct. 15. Sean Lovison Founder of Purpose Built Financial ServicesAccording to the IRS, those who can't pay taxes by the deadline have options. Most Americans qualify for IRS Free File, which offers free guided tax prep software from several partners. "It's a product that we're very proud of," Tim Hugo, executive director of the Free File Alliance previously told CNBC. This season, millions of taxpayers also qualify for IRS Direct File, a free tax filing pilot program from the IRS.

Persons: Sean Lovison, Werfel, Tim Hugo Organizations: IRS, Alliance, CNBC, Treasury Locations: filers, Maine, Massachusetts, Philadelphia, Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming

☆ 19 million people may qualify for free tax prep through the IRS this season. Here’s where they live
▼ + stars: | 2024-03-12 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

IRS Free File returns up nearly 15%This season, the Direct File pilot is only available in 12 states, but most taxpayers also qualify for another option: IRS Free File. The program is a public-private partnership between the IRS and the Free File Alliance, a nonprofit coalition of tax software companies. Tim Hugo Executive director of the Free File AllianceSome 70% of taxpayers, or roughly 100 million Americans, are eligible for Free File. "It's free, it's easy to use and it's available," said Tim Hugo, executive director of the Free File Alliance. Other free tax filing options this season include Volunteer Income Tax Assistance, Tax Counseling for the Elderly and private company software.

Persons: Tim Hugo, Hugo Organizations: Treasury, IRS, Alliance, Elderly Locations: California, Arizona, Florida, Massachusetts, Hampshire, Nevada, York, Dakota, Tennessee, Texas, Washington, Wyoming

☆ Most Americans can file federal taxes for free — but only about 3% used this option last season
▼ + stars: | 2024-02-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Established in 2002, the program, known as IRS Free File, is a public-private partnership between the agency and the Free File Alliance, a nonprofit coalition of tax software companies. Some 70% of taxpayers — roughly 100 million Americans — are eligible for Free File, according to Tim Hugo, executive director of the Free File Alliance. IRS Free File partners for 2024 season 1040NowDrake (1040.com)ezTaxReturn.comFileYourTaxes.comOn-Line TaxesTaxActTaxHawk (FreeTaxUSA)TaxSlayerIRS Free File is 'not just for simple returns'While complicated filings may need professional guidance, Free File can handle more tax situations than you may expect. Free File partners aren't required to cover all federal income tax forms and schedules. You can also file for an extension through Free File, which moves your filing deadline to Oct. 15.

Persons: there's, Tim Hugo, filers, Danny Werfel, Hugo, 1040Now Drake, There's Organizations: Alliance, IRS

☆ Here's how to pick the best free tax filing option this season
▼ + stars: | 2024-02-04 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

IRS Free FileA public-private partnership between the IRS and Free File Alliance, a nonprofit comprised of tax software companies, IRS Free File offers free guided tax prep software for eligible filers. If you're comfortable with tax software, Free File has eight partners this season, with varying income eligibility — and some offer free linked state filings. Volunteer tax prep from IRS programsIf you're looking for more guidance, you may also qualify for free tax prep from IRS programs with trained volunteers. The Volunteer Income Tax Assistance, or VITA, program offers free tax prep for taxpayers typically making up to $64,000, in addition to filers with disabilities and limited English proficiency. AARP Foundation Tax-Aide also offers free tax prep for low- to moderate-income older adults.

Persons: Tim Hugo, Hugo, Steven Hamilton Organizations: U.S . Bureau of Labor Statistics, Taxpayers, IRS, Alliance, National Taxpayer, Volunteer, Internal Revenue, The George Washington University, Social Locations: Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming

☆ IRS to offer free online direct filing system for some taxpayers in 2024
▼ + stars: | 2023-05-17 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Jayme Thornton | Tooga Productions | Getty ImagesPushback from the tax prep industryWhile some Democrats and consumer advocates have pushed for a direct filing system for years, there has already been pushback from Republicans and the tax preparation industry. "The IRS direct e-file pilot set to start in January 2024 continues to be a solution in search of a problem," a spokesperson for H&R Block said in a statement. "With more than 30 organizations already offering free tax preparation, this pilot is unnecessary and faces significant barriers to providing comprehensive tax preparation services." It is a watershed moment for the tax system. "It is a watershed moment for the tax system," said Mark Everson, a former IRS commissioner and current vice chairman at Alliantgroup.

☆ Lawmakers scrutinize free IRS filing options. “The whole process needs to be improved,” commissioner says
▼ + stars: | 2023-04-20 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

IRS Commissioner Danny Werfel on Wednesday fielded questions from the Senate Finance Committee about the agency's spending priorities, including research on the IRS direct e-file program. However, he admitted there are issues with the current IRS Free File program. A public-private partnership between the IRS and the Free File Alliance, IRS Free File offers free online guided tax prep software to taxpayers with an adjusted gross income of $73,000 or less for 2022. Warren said private companies "sabotaged the program" by making it harder for users to find free filing options to "keep raking in money." IRS free filing raises 'conflicts of interest'Throughout Inflation Reduction Act negotiations, many Republicans have been skeptical about the IRS creating its own free filing program, as well as the $15 million allocated for the study.

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