(WTNH)– Michael Bloomberg says he can’t use turbo tax to file his tax return. Understandably since the billionaire democratic presidential candidate’s return probably runs thousands of pages long.
But for the average taxpayer, there are plenty of simple, low-cost, and even free ways to do taxes.
If you had adjusted gross income of $69,000 or less last year you can use the IRS’s “Free File” program.
Despite it being free, just 2% of the more than 100 million eligible taxpayers use the program, according to the IRS.
“Free File” could get more use this year because the 10 companies the IRS partners with on it can no longer hide the free options on their websites.
And if you need a helping hand, you may be able to find it from an online tax-preparation website.
Some of those offers live help from a CPA for a price. It can run more than $100 in some cases.
So how do most of us do our taxes? Well the IRS says more than 50 million taxpayers used tax-prep software. But by far, the most popular way was to have a tax preparer do it.