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Using a free tax service will have its advantages and disadvantages. For many people these services are appealing since tax preparation can be expensive and confusing. Here are some reasons you may or may not want to choose to use a free tax service.
Military Tax Preparation
If you are military personnel you will want to check in to the options available for you and your family when it comes to free tax services. The Volunteer Income Tax Assistance program was created to help a variety of people get tax assistance. Military personnel may not be in the states to file on time. There are also other considerations like combat zone tax cuts that are exclusive to military personnel. You can check on the IRS website or through the military itself for information on free tax preparation and filing.
Tax Preparation for the Elderly
If you are over 60 and fall in to the low or middle income brackets you can qualify for free tax services. You can check with the AARP for their Tax-Aide counseling program. The same assistance program that helps those in the military will also be available to prepare and file your taxes. You can call your local AARP chapter, senior centers, or the IRS for information on how to go about this.
Tax Assistance for Low Income Families
If you bring in less than $49,000 a year and are otherwise unable to prepare and file your taxes you may qualify for programs through the IRS and other agencies. These free tax preparation services are usually available by appointment at local libraries and community centers. There are eligibility requirements for most of these programs, so check with your local IRS office or other community programs for eligibility information.
Advantages of Free Tax Programs
The obvious advantage is the money you will save on filing your taxes. Another advantage is being able to get free tax advice from professionals. This can be a great way to find deductions that you would have otherwise missed. It can also help you prepare for your taxes next year by having a better understanding of the tax bracket you fall in.
Some Disadvantages
Many of these free tax services use a software program that you can use on your own for free as well. While these aren’t a bad thing, they aren’t perfect. Often times, deductions can be missed and you can end up paying more in your yearly taxes. Many of these tax professionals have taken a quick class that teaches them how to use the software and nothing more. The experience they gain is simply from using this computer software. If you have difficult questions or a return that requires special attention, these may not be the best services for you to use.
There are plenty of reasons both to use and for not using free tax services. If you have a pretty simple return then it can be a time saving option for you. If you have a more complicated return to file you may want to pay a fee to have a tax accountant go over the process with you.
Military Tax Preparation
If you are military personnel you will want to check in to the options available for you and your family when it comes to free tax services. The Volunteer Income Tax Assistance program was created to help a variety of people get tax assistance. Military personnel may not be in the states to file on time. There are also other considerations like combat zone tax cuts that are exclusive to military personnel. You can check on the IRS website or through the military itself for information on free tax preparation and filing.
Tax Preparation for the Elderly
If you are over 60 and fall in to the low or middle income brackets you can qualify for free tax services. You can check with the AARP for their Tax-Aide counseling program. The same assistance program that helps those in the military will also be available to prepare and file your taxes. You can call your local AARP chapter, senior centers, or the IRS for information on how to go about this.
Tax Assistance for Low Income Families
If you bring in less than $49,000 a year and are otherwise unable to prepare and file your taxes you may qualify for programs through the IRS and other agencies. These free tax preparation services are usually available by appointment at local libraries and community centers. There are eligibility requirements for most of these programs, so check with your local IRS office or other community programs for eligibility information.
Advantages of Free Tax Programs
The obvious advantage is the money you will save on filing your taxes. Another advantage is being able to get free tax advice from professionals. This can be a great way to find deductions that you would have otherwise missed. It can also help you prepare for your taxes next year by having a better understanding of the tax bracket you fall in.
Some Disadvantages
Many of these free tax services use a software program that you can use on your own for free as well. While these aren’t a bad thing, they aren’t perfect. Often times, deductions can be missed and you can end up paying more in your yearly taxes. Many of these tax professionals have taken a quick class that teaches them how to use the software and nothing more. The experience they gain is simply from using this computer software. If you have difficult questions or a return that requires special attention, these may not be the best services for you to use.
There are plenty of reasons both to use and for not using free tax services. If you have a pretty simple return then it can be a time saving option for you. If you have a more complicated return to file you may want to pay a fee to have a tax accountant go over the process with you.
