IRS Tax Filing: what documents do I need and how do I prove my income?
With tax season well and truly here, we break the rules down and guide you to all the information you need to get started.
What is "IRS Free File?"
The IRS Free File Program provides two ways for taxpayers to prepare and file their federal income tax online for free:
Traditional IRS Free File provides free online tax preparation and filing options on IRS partner sites. IRS partners are online tax preparation companies that develop and deliver this service at no cost to qualifying taxpayers. Please note, only taxpayers whose Adjusted Gross Income (or AGI) is $72,000 or less qualify for any IRS Free File partner offers.
Free File Fillable Forms are electronic federal tax forms you can fill out and file online for free. If you choose this option, you should know how to prepare your own tax return. Please note, it is the only IRS Free File option available for taxpayers whose AGI is greater than $72,000.
Required documentation to file your tax return
Proving your AGI: income and receipts
Affordable Care Act (ACA) filers
Valid email address required for contact
To get a notification from the Free File software company that your return was accepted by IRS, you need a valid email address, ensure to have this ready when starting.
How long will it take to process my tax refund?
You will usually receive your refund within three weeks of the date when the IRS receives your return, even faster if you choose to have it directly deposited into your checking or savings account.
Though there’s a notice on the IRS advice website that states that they’re having some staffing issues, so processing paper tax returns could take several weeks longer. Taxpayers and tax professionals are encouraged to file electronically.