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IRS and Free File Alliance to keep partnership going

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in Small Business Tax

The IRS and the Free File Alliance will be in business together until 2020. The agency has announced a new five-year agreement providing free federal tax-preparation-software products to 70% of all taxpayers. (IRS Internal News Release 2015-52, 3/17/15)

The agreement paves the way for innovations such as importing the prior year’s information and requests for additional options for free state tax returns. For 2015, taxpayers with income of $60,000 or less were eligible for the free tax software, while those above the $60,000 threshold could use Free File Fillable Forms, the electronic version of IRS paper forms. Free File also provides free tax filing extensions.

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