The average taxpayer can now pay well over $100 to have their taxes done. But many could be filing for free.
Every year, people pay hundreds of dollars to tax prep services, when they could have done it free of charge through the IRS website. It links you to more than a dozen different companies that will let you file free of charge. But here's the biggest requirement: you must have earned less than $62,000 in 2015.
But there is a catch. For one: if you choose TurboTax, the number one program, the income limit is not $62,000. It's just $31,000 for most people. And free filing from TaxAct requires you to be under the age of 56. The good news is, there's enough options, so you should be able to find a service that works for you.
You may be asking, will the IRS ever make free filing easy and free for everyone? Well not until a new president throws out the tax code, which probably won't happen. But it's still worth checking to see if you qualify, so you Don't Waste Your Money.