The Internal Revenue Service (IRS) and its private-sector partners on Friday announced the opening of this year's Free File program. The free tax preparation and electronic filing initiative begins its sixth year with high customer satisfaction ratings.
Seven out of 10 taxpayers — 97 million filers — qualify for Free File, according to the IRS. Taxpayers must have an adjusted gross income of $54,000 or less to be eligible.
This year taxpayers can choose from 19 tax preparation software companies. The program is operated by the IRS and the Free File Alliance. The Alliance is a consortium of tax preparation software companies. Each company sets its own criteria for who can use the service.
"Free File gives taxpayers an opportunity to use private-sector tax preparation programs for free," explained Acting Commissioner Linda E. Stiff, continuing: "The IRS encourages taxpayers to take advantage of this valuable program from the IRS and the Free File Alliance."
The only way taxpayers can access the IRS Free File program is through the IRS Web site. That includes both new and repeat users. Otherwise, the e-file provider might charge them a fee.
Most taxpayers will be able to use the Free File program immediately. However, because of recent Alternative Minimum Tax (AMT) legislation, as many as 13.5 million taxpayers will need to wait until Feb. 11 before they file their return.
Returns that include the following forms should not be filed until Feb. 11, 2008: Form 8863, Education Credits; Form 5695, Residential Energy Credits; Schedule 2, Form 1040A, Child and Dependent Care Expenses for Form 1040A Filers; Form 8396, Mortgage Interest Credit; Form 8859, District of Columbia First-Time Homebuyer Credit.
If returns with these forms are e-filed before Feb. 11, they will not be accepted.The February date allows the IRS enough time to update and test its systems to accommodate the changes without major disruptions to other operations related to the tax season.
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