Many taxpayers will be able to file their taxes for free this year. The good news is that all the major tax preparation software companies offer some form of free filing option. The bad news is that it can be limited and the free offering isn’t homogenous for easy comparison. It might require a little bit of research on taxpayer’s end to determine, which one of the products is the most appropriate given your tax situation.
Keep in mind that any free product to file taxes will be an online version. It will require you to complete the whole tax return, but the taxpayers with straight forward tax situation should not have any problems navigating thought the sections of the tax return.
For the complete list of filing taxes for free, check out the IRS FreeFile website. It includes the list of all the approved companies participating in the program. The program is currently closed, but will reopen in January.
So, what is the best “File taxes for free” product?
Below is a quick comparison of the forms you will be able to complete in the free version for the most popular tax software providers. Please note that the forms listed for H&R Block do not make a complete list. Unlike TurboTax or TaxAct, H&R Block does not spell out all the forms that fall under the “free” category.