Maximize Your Tax Return with FreeFile: A Step-by-Step Guide

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News Team

Great news for your tax return in 2024! The Internal Revenue Service (IRS) has a helpful tool called FreeFile that makes it easy for qualified taxpayers to prepare and file their federal tax returns online using guided tax preparation software. This tool can also be used to electronically request an automatic extension of your tax return.

To use FreeFile for your tax return, simply visit the IRS portal and look for option 1, which is for “guided tax software” for individuals with an adjusted gross income of $79,000 or less. You can also prepare and file your federal return in Spanish by clicking on the corresponding option. Once you select this option, you will be directed to the ezTaxReturn software, which is available in Spanish and is where you can start your tax return. If you are a new customer, you can click on the “New customer? Click here” option to create an account on the site.

When filing taxes, it’s important to avoid common mistakes that taxpayers often make. One of the most common mistakes is failing to report all sources of income, including freelance work, rental income, and investment income. It’s important to gather all necessary documents, such as W-2 forms, 1099 forms, and receipts, to ensure that you accurately report all sources of income.

Another common mistake is claiming ineligible deductions or credits. Taxpayers should carefully review the eligibility requirements for each deduction and credit they plan to claim to ensure that they qualify. Additionally, it’s important to accurately calculate deductions and credits to avoid errors.

Filing taxes can be overwhelming, but with the help of FreeFile and other resources provided by the IRS, taxpayers can navigate the process with ease. It’s important to take advantage of these tools to ensure that your tax return is filed accurately and on time. By avoiding common mistakes and using available resources, you can maximize your tax refund and minimize the risk of errors or audits.

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