Core Insights - The IRS is now accepting 2025 tax returns, with options for free online filing available despite the discontinuation of the IRS Direct File program for the 2026 tax season [1][10] - Taxpayers can significantly reduce the time and cost associated with filing taxes by utilizing free IRS tax filing and preparation assistance [2] IRS Free File - Taxpayers with an adjusted gross income of $89,000 or less in 2025 can access free tax preparation software through IRS-trusted companies, which may also offer free state tax preparation [3][10] - There are eight trusted partners providing free tax preparation software, each with specific eligibility requirements based on income, age, location, and military status [4] IRS Free File Fillable Forms - The IRS Free File Fillable Forms are available for taxpayers who prefer to prepare and file their own returns electronically, regardless of income level [5] MilTax - MilTax offers a free electronic filing service for active or recently active military members and their immediate family members [6] Private Filing Companies - Some private tax preparation companies, such as TurboTax and H&R Block, provide free federal tax filing options for eligible taxpayers, particularly for simple returns [7] Volunteer Income Tax Assistance - The Volunteer Income Tax Assistance program offers free tax help for taxpayers making $69,000 or less, those with disabilities, or individuals with limited English-speaking abilities [9] Tax Counseling for the Elderly - This program assists taxpayers aged 60 and older, focusing on tax preparation questions related to pensions and retirement issues [11]

Core Points - The IRS Direct File program, which was launched in 2024 and used by nearly 300,000 Americans in 2025, is being terminated by the Trump administration despite its initial popularity and support from 75% of taxpayers [1][4] - Treasury Secretary Scott Bessent stated that the decision to end the program was based on the belief that there are "better alternatives" available [2] - Critics argue that the termination of IRS Direct File will negatively impact average taxpayers while benefiting tax software companies [3] Program Details - The IRS Direct File program was initially launched in 12 states in 2024 and expanded to 25 states for the 2025 tax season, making it available to 32.2 million taxpayers [4] - In 2025, 296,531 taxpayers utilized the program, representing a 111% increase from 2024 [4] - A poll by the Center for Taxpayer Rights indicated that 94% of users rated their experience with the program as "excellent" or "above average" [5] Opposition and Lobbying - Major private-sector companies like Intuit and H&R Block lobbied against the IRS Direct File program, spending millions to ensure its termination [6] - H&R Block openly stated that the free federal tax-filing program would adversely affect their revenue and profitability [6] - The combination of leadership changes and significant lobbying efforts ultimately led to the program's demise [7] Future Implications - There will not be an equally simple and free method for taxpayers to file taxes with the IRS in the upcoming year following the program's cancellation [8]

Core Insights - Mark Cuban disclosed a tax payment of $275.9 million for the previous year, expressing pride in fulfilling his tax obligations as a civic duty [1] - His approach serves as a model for everyday taxpayers, emphasizing the importance of accurate filing and avoiding penalties to lower tax bills [2] Tax Strategies - **Accurate Filing**: Cuban advocates for paying what is owed and ensuring accurate tax filing to avoid penalties and interest, which can inflate tax bills [2] - **Utilizing IRS Direct File**: He encourages taxpayers to use the IRS Direct File program for free e-filing, which reduces errors, preparation costs, and speeds up refunds [3] - **Capital Gains Planning**: Cuban's significant tax bill is largely due to long-term capital gains, highlighting the importance of timing transactions to manage tax liabilities [4] - **Smart Savings**: Utilizing tax-free bonds has helped Cuban reduce taxable income, while everyday taxpayers can benefit from maximizing contributions to retirement accounts like 401(k)s and IRAs [6] - **Charitable Giving**: Cuban views tax payments as a contribution to society, suggesting that taxpayers can lower their tax bills through charitable donations, which also support meaningful causes [7]