How to Do Taxes Online for Free

By Nicki Howell

  • Overview

    As tax time approaches, many individuals are preparing to file their federal and state tax returns. Since visiting an accountant can be costly, many are interested in filing taxes online for free. There are many companies that offer this service for federal tax returns. However, filing your state return for free is a little more complicated. Many states offer free online filing tools on their websites. Here are some helpful tips.
    • Step 1

      File directly with the IRS online. The IRS allows users to file their tax return on their website at no cost. Taxes can be filed beginning January 16.
    • Step 2

      File with Tax Act online. You can file your federal return for free and they charge $13.95 for your state tax return. The company also provides free tax deduction tools to help maximize your return.

    • Step 3

      Use H&R Block to file your tax return. H&R Block allows users to file federal tax returns for free if their income is less then $54,000 and they are younger than 50 years of age.
    • Step 4

      Check out TurboTax's free edition. The company allows you to file your 1040EZ for free online. If you like, you can purchase upgrades to maximize tax deductions and have a professional review your tax return.
    • Step 5

      Understand that Tax Brain allows you to file your federal tax return online for free. It also offers a free assessment tool to determine which tax forms you need to file. You can store your tax returns online to reference in future years.
    • Skill: Moderate
    • Tip: Check with your individual state for free tax forms. Some states allow you to file your state return online at no cost. Check with your individual state to determine if it offers this service.
    • Warning:
    • If you have a complicated return, consider having an expert review your return. Many of the online companies offer professional reviews which can cost about $50. This may reduce your exposure to mistakes and tax audits.

    © High Speed Ventures 2011