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Thanks to the Inflation Reduction Act of 2022 (IRA), the Internal Revenue Service (IRS) was able to begin a free online program for those who qualify.
You need to file a 2021 federal tax return by April 18, 2022, if your income exceeded the amounts listed below. (Residents of Massachusetts and Maine have until April 19.)
Information returns are reports used to transmit information about income, receipts or other matters that may affect tax liabilities. For example, Form W-2 and Form 1099 are used to report on the amount of income that an employer, independent contractor, broker, or other payer pays to a taxpayer.
Form 1040, officially, the U.S. Individual Income Tax Return, is an IRS tax form used for personal federal income tax returns filed by United States residents. The form calculates the total taxable income of the taxpayer and determines how much is to be paid to or refunded by the government.
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
IRS Free File, a partnership between the IRS and many tax preparation software companies, opened Jan. 12. The program allows qualified taxpayers to prepare and file federal income tax returns ...
The nation’s tax-filing season officially kicked off on Monday. The Internal Revenue Service is now accepting and processing 2022 federal tax returns filed electronically.
For tax-filing season 2024, the IRS announced a pilot of Direct File, where people can calculate and submit their federal taxes and some state taxes in partnership with select state tax agencies for free. This initiative came as a result of the 2022 Inflation Reduction Act, signed into law by President Joe Biden. [8]
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