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TAX SEASON ALERT: IRS’s Free File Program EXPANDS and BRINGS SAVINGS for MILLIONS!
FREE TAX PREP FOR ALL: Is Your Income Under $84,000? You’re in Luck!
Tax season just got a massive boost for millions of Americans! The IRS’s Free File program is BACK for its 23rd year, and it’s bigger and better than ever! Brace yourselves, folks, because the income limit has skyrocketed to a jaw-dropping $84,000 for the 2024 tax year! That’s an incredible $5,000 jump from last year’s limit of $79,000!
THE IRS HAS HEARD YOUR CRIES!
That’s right! In a move that has taxpayers cheering, the IRS has broken the mold by upping the eligibility limit like never before! Last year, they raised it by $6,000—the largest increase ever! This jump continues a trend as the IRS rolls out the red carpet to more taxpayers. Reports show that a staggering 70% of all taxpayers—over 100 million people—now qualify for FREE e-filing!
NOT JUST FOR SIMPLE RETURNS: ALL TAXPAYERS REJOICE!
Think Free File is only for those with straightforward returns? Think again! Tim Hugo, head of the Free File Alliance, has made it clear: anyone with an adjusted gross income (AGI) of $84,000 or less can file for free, including small business owners, gig economy workers, and even landlords! This is your chance to file without breaking the bank!
WHAT’S ON THE MENU? FREE FILING OPTIONS GALORE!
With the help of eight participating companies, this program remains a GO TO for low and middle-income earners. Sure, some companies have their own quirks, like income levels and military status to qualify, but fear not! Anyone under that golden $84,000 threshold can find at least one option to file FREE!
STAY AWAY FROM THE SLICK SALES PITCHES!
Here’s the best part: These companies CAN’T upsell you during the filing process or play tricks with cash advances, unlike many of those other ‘free’ tax software out there! You’ll glide through the step-by-step prompts, inputting your tax info with ease—like you would on a typical tax software program! And yes, some services even throw in FREE state tax prep!
WATCH OUT: OVER $84,000? YOU’RE NOT OUT OF LUCK, YET!
If your income is over $84,000, you can still use the Free File program—but it’s going to require a bit more elbow grease. Enter the Free File Fillable Forms! A little manual labor never hurt anyone, right? Just follow the instructions and do your own math, then e-file or mail it in.
WHERE’S MY REFUND? IT’S TIME TO TRACK DOWN THAT CASH!
Once you hit that “Submit” button, keep your eyes peeled for your tax refund with the IRS’s nifty “Where’s My Refund” tool! Typically, refunds take about 21 days to get processed for e-filers—longer if you send it the old-fashioned way!
UNDERUTILIZED BUT STILL ALIVE: FREE FILE’S BIG FUTURE!
Despite being a hidden gem in the tax world with only 75 million returns filed since 2003—yes, that’s just 2% of the total—we can expect the Free File program to stick around until at least 2029!
THE CLOCK IS TICKING FOR DIRECT FILE: WILL IT SURVIVE?
But hold onto your hats—the IRS’s new software, called Direct File, is facing uncertainty. It may not last much longer, with Treasury Secretary Scott Bessent hinting at a potential shutdown after 2025.
In conclusion, don’t miss out on this golden opportunity! Get your taxes done for FREE and SAVE that hard-earned cash for things that matter! This is your chance—don’t let it slip away!
photo credit: money.com
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