Jan 27, 2008

IRS Free File- Who can do this?

The IRS is stressing electronic filing- in fact, there are many more electronic filers each year. Almost 80 million (about 60% of all filers) people filed electronically in 2007.

Free filing is available to those who make under $54,000 and meet many other requirements. However, since its inception in 2003, only 19.2 million have used this free file service sponsored by the IRS and its free file consortium.

Almost 23 million used IRS forms and/or tax programs to self file. This is up over 10% from a prior year. However, if you are not tax savvy and are attempting to take deductions or omit income, you need a tax professional to file your taxes. In fact, almost 60% of all returns are filed by professionals.

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