Secret tools to file your taxes for free in 2022! (Updated list)
Is filing taxes always a bummer? Not if you use the right app! With these handy, free apps for filing taxes, it's never been easier.
And as an added bonus, as soon as your returns are done, you'll know exactly how much money to set aside for April without having to make any calculations. So, here's a rundown of the best apps for easy and convenient tax filing
How to choose the best app for filing taxes in 2022?
There are many apps out there that can help you with your tax preparation, from ones that will walk you through it step by step and make it super easy for you to do, to those that have features that no other tax prep app has.
Overall, It's up to you to decide which one is the best for you because not everyone has the same taxation problems.
Hence, it becomes essential to go through the basic functionalities you will receive with the app and see if it can actually help with filing taxes or not. So without further do, let's go through the following list of free and paid tax preparation tools:
1. H&R Blok Free Edition
This is a free web-based product that provides the needed tools to prepare and file your federal tax return. It also includes state returns for some states.
2. IRS Fillable Forms
These are fillable forms that will help you prepare your taxes online by using the information you have gathered. They are in an electronic format and can be used for the tax years 2015, 2016, and 2017.
3. TaxAct Free Edition
This product is a free web-based version of the desktop software including all features that come with the paid versions as well as a few extra features such as password protection and e-filing.
It is compatible with Windows, Mac, and mobile platforms so it can be used on any device. Available only for US federal taxes (1040EZ, 1040A, or 1040).
4. IRS Free File
The IRS offers free, full-featured software to use on your computer at no cost. This option makes it easy to organize and prepare your taxes with your own personal information rather than having all of the data pulled from records held by the IRS.
5. TurboTax Free Edition
This product allows you to prepare and e-file your federal income tax return as well as some state returns for free. It is available for Windows, Mac, and mobile platforms.
6. TaxSlayer Free Edition
This product can be used for preparing and e-filing both your federal (1040EZ, 1040A, or 1040) and some state returns for free. State returns are available for taxpayers in Pennsylvania, Georgia, Tennessee, Kansas, Missouri, Indiana, or Iowa only.
7. H&R Block Free File Edition
This is a product that helps you prepare and e-file your federal tax return for free as well as some state returns for some states. State returns are available in Florida, Washington, Oregon, Illinois, or South Carolina.
What if I need more time to file?
If you have a severe disability as defined by the IRS and have requested an extension of time to file tax returns, then it is highly recommended that you use this extension. In this case, the rules for filing will be different from other taxpayers who haven't requested extensions:
The extension would apply to all years from 2022 through 2026. If you need to file an extension, then you should do so before the April 15 deadline. If you have a pending extension on your current tax return and will be filing an amended return in 2022, then you can wait until October 15 to file your returns
Filing Taxes in 2022: Why It Matters
When it comes to filing taxes, the most important thing is to follow the guidelines that your employer or accountant has set out for you.
You must also keep track of all of your investments, loans, and mortgages in order to properly calculate your taxes. Remember: If you don't file your taxes then nothing will get done.
The first thing you need to know is that there are two different types of filing: short-form and long-form. The short-form only covers income from W2s and 1099s,
whereas the long-form will cover all income sources like passive losses or Rental Real Estate Income. (If you're not sure what those mean, then you probably want the long-form filing).
Now you should know that there are two ways to file: electronically and on paper. Both are acceptable for tax purposes, but employees would be wise to go with electronic filing so that they don't have any missteps it causes them later down the road.
Role of software and applications in the latest tax filing process
Furthermore, there are two different types of tax software: desktop and mobile. It's important to know what kind you're using as not all apps are designed for the same purposes.
Software for taxes can be purchased through a desktop (Windows, OSX, or Linux) or a mobile device (iOS or Android).
Not to mention there are two different ways to file taxes: online and offline. Staying online is generally preferable because your records will be up-to-date.
Whereas, some of the best tax filing apps in 2022 might ease up the process for you. The offline filing allows you to do "last minute" math, which is probably only an issue if you're trying to minimize your refund after all of the deductions have been made.
If you're not sure what to do, then it's probably best to file offline.
Conclusion
Filing taxes is unavoidable but we can save our time by using the easy way around for sure. Therefore, I hope this list of free tools for filing taxes will help you to file your taxes hassle-free in 2022. If you have any more apps for filing taxes, no matter whether they're free or paid, please leave them in the comments below to help others.