Tax Filing
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X @The Wall Street Journal
The Wall Street Journal· 2025-11-08 05:00
The IRS is officially ending Direct File, the free, government-run tax-filing pilot program that the Biden administration started last year https://t.co/seu9Uy7ocm ...
X @Investopedia
Investopedia· 2025-11-08 02:00
The IRS Direct File will not be available for the upcoming tax filing season. However, other programs like the Free File and IRS tax preparation volunteers will still be available to help taxpayers through the filing process for free. https://t.co/jpwI2uW4Vu ...
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
A spending bill advancing through Congress will likely eliminate an IRS tax filing service that provided online filing for free to about 30 million Americans. https://t.co/4FFZAMYnZu ...