Tax Filing
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X @The Wall Street Journal
The Wall Street Journal· 2025-11-08 05:00
Government & Regulation - IRS is ending Direct File, a free, government-run tax-filing pilot program [1] - The program was started by the Biden administration last year [1]
X @Investopedia
Investopedia· 2025-11-08 02:00
Tax Filing Programs - IRS Direct File program will not be available for the upcoming tax filing season [1] - Free File and IRS tax preparation volunteers will still be available to assist taxpayers [1]
IRS Direct File ends. Here are other free or low-cost tax-filing options to consider.
Yahoo Finance· 2025-11-06 22:08
Core Points - The Trump administration has ended the IRS Direct File program, which was designed to simplify tax filing for Americans and save costs [1][4] - Critics argue that Direct File was costly to develop and had low participation rates, with only 296,531 returns filed in its second year, representing less than 0.5% of total returns [4][5] - Former Treasury Secretary Janet Yellen estimated that the average American taxpayer spent $270 and 13 hours filing their tax return [2] Group 1: Direct File Program Overview - Direct File was launched as a pilot in 2023 for 12 states and expanded to 25 states in 2024 [1] - The program cost taxpayers at least $41 million, or approximately $138 per return, which critics claim understates the true costs [5] - Participation in Direct File was the lowest among free tax preparation programs, with just under 141,000 returns filed in the pilot year [4] Group 2: Alternatives to Direct File - Americans will need to use paper returns or other software options, with low-cost software providers available [7] - Free options include IRS Free File, which offers free tax preparation software for eligible taxpayers with an AGI of $84,000 or less [8] - Volunteer Income Tax Assistance and AARP Foundation's Tax-Aide provide free tax help, assisting nearly 1.7 million taxpayers in 2024 [8]
4 Tax Moves Most Married People Don’t Have Access To
Yahoo Finance· 2025-09-18 16:44
Tax Implications for Married Couples - Being married allows couples to share a tax return, claim a larger standard deduction, and often pay less overall compared to filing individually [1] - Certain credits and deductions designed for single filers or specific groups may not apply to married couples [1] Filing Status and Deductions - The Head of Household (HOH) filing status is exclusive to single filers who support a qualifying dependent, making married couples ineligible [2] - For 2025, the standard deduction for HOH is $22,500, while married filing jointly (MFJ) is $30,000, and single filers or those married filing separately receive $15,000 [3] Earned Income Tax Credit (EITC) - The EITC is beneficial for lower-income workers, with stricter rules and lower income thresholds for married couples compared to single parents [4] - A single filer with three or more qualifying children can receive up to $8,046 in refundable credit, while married couples may exceed the income cutoff due to combined incomes [5] Saver's Credit - The Saver's Credit incentivizes retirement account contributions, with singles qualifying up to an AGI of $39,500, while the limit for married couples is $79,000 combined [6] - Singles can receive up to $1,000 back, whereas married couples can claim up to $2,000 combined, but many married households may not qualify due to combined income [6]
X @Investopedia
Investopedia· 2025-07-02 14:00
Government Policy & Taxation - A spending bill in Congress is likely to eliminate an IRS tax filing service [1] - This service provided free online filing for approximately 30 million Americans [1]