It's tax season. How do I file my federal and state taxes for free?
Tax season is officially upon us. The Internal Revenue Service (IRS) announced Monday as the official start date of this year's tax season, and that the agency is accepting and processing 2023 tax returns.
The deadline to file tax returns in Connecticut is April 15, 2024. Whether you have paid someone to do your taxes and file them, or done them yourself, it can be expensive.
There are several ways to file for free, if you meet the qualifications. IRS Free File is available to taxpayers with an Adjusted Gross Income (AGI) of $79,000 or less. The IRS’s Volunteer Income Tax Assistance (VITA) program offers free tax help to people who need assistance in preparing their own tax returns, including people whose AGI is $64,000 or less, people with disabilities and limited English-speaking taxpayers.
What is IRS Free File?
Using IRS Free File, qualified taxpayers can prepare and file federal income tax returns for free using guided tax preparation software. In addition to preparing and filing federal tax returns, IRS Free File allows for free state tax preparation and filing with some trusted partners.
The IRS Free File Program is a public-private partnership between the IRS and many tax preparation and filing software industry companies who provide their online tax preparation and filing for free. It provides two ways for taxpayers to prepare and file their federal income tax online for free.
Guided Tax Software provides free online tax preparation and filing at an IRS partner site. Taxpayers whose AGI is $79,000 or less qualify for a free federal tax return.
Free File Fillable Forms are electronic federal tax forms, equivalent to a paper 1040 form. It provides a free option to taxpayers whose AGI is greater than $79,000. This option offers no state tax preparation or filing.
The IRS Free File program is also available in Spanish.
VITA Program
The IRS’s Volunteer Income Tax Assistance (VITA) program offers free tax help to people who need assistance in preparing their own tax returns, including people whose AGI is $64,000 or less, people with disabilities and limited English-speaking taxpayers.
VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls and other convenient locations across the country. To find the nearest VITA site to you, use the VITA Locater Tool or call 800-906-9887.
How do I file my state taxes for free?
Connecticut residents, regardless of income, can prepare and file their state taxes for free on myconneCT. This is the Connecticut Department of Revenue Services’ new online portal to file tax returns, make payments and view your filing history.
What is Adjusted Gross Income?
The IRS defines adjusted gross income (AGI) as total income minus deductions, or “adjustments” to income that you are eligible to take.
Gross income includes wages, dividends, capital gains, business and retirement income as well as other forms of income, as well as tips, rents, interest and stock dividends.
Adjustments to income are deductions that reduce total income to arrive at AGI.
Examples of adjustments include half of the self-employment taxes you pay; self-employed health insurance premiums; contributions to certain retirement accounts (such as traditional IRA); student loan interest paid and educator expenses.
How do I get a tax-filing extension?
Individual tax filers, regardless of income, can use IRS Free File to electronically request an automatic tax-filing extension. In addition, individuals and businesses affected by the severe storms, flooding and leak in the Fitchville Pond Dam in Bozrah on Jan. 10 now have until June 17 to file their tax returns and make the required tax payments.
This article originally appeared on The Bulletin: How to file federal and state taxes in Connecticut for free in 2024
