- FreeTaxUSA: A popular free tax service that, similar to the IRS Free Filing tool, lets you e-file your federal return for free directly to the IRS. You can also file state returns for just $15. Although FreeTaxUSA is super affordable, it includes services for more complicated filings, like home ownership, investments, and small businesses.
- Cash App Taxes: The mobile finance tool similar to Venmo, Cash App has taken over for Credit Karma and provides free federal and state filing, and free audit defense. You can do your taxes through your computer or phone, and even easily snap a photo for your W-2 within the app. Reviewers have reported that Cash App Taxes doesn’t have as much support as paid services, and there is no expert tax help available if you need it. It’s missing some forms and tax topics, and users can’t import 1099s, so it’s really only good for W-2 employees.
- H&R Block: This familiar name has been a reliable tax service provider for over 70 years, and it has classic in-person help from a tax expert, along with easy-to-use online tax services. It’s on the pricier side, but H&R Block does provide more user-friendly and holistic services, including do-it-yourself online packages, Online Assist (which includes help from a tax expert), service from a tax preparer, and computer software. WIRED offers H&R Block coupons to save money if you decide to go with this service.
- TurboTax: Another extremely popular tax service serving millions of users, TurboTax has free services for qualifying people, offering simple Form 1040 returns only. Along with self-service, there’s TurboTax Live Assisted, where you file online with tax expert help if needed; and TurboTax Full Service, where a tax expert will do your taxes and review them with you before filing.
How to File Taxes for an LLC or Small Business
Filing taxes for small businesses or LLCs is a little trickier, and that’s where going with one of the tax services above—with advanced programs and expert help—can save you many headaches. Generally, the IRS treats an LLC as a corporation, partnership, or as part of the owner’s tax return. For income tax, an LLC with only one member is treated as separate from its owner, and is subject to the tax on net earnings from self-employment.
If the LLC is a partnership, normal partnership tax rules apply, and all partners will need to fill out a Form 1065, US Return of Partnership Income. Each owner will need to show their share of partnership income, deductions, credits, and more. If the LLC is a corporation, corporate tax rules apply, and it should file a Form 1120, US Corporation Income Tax Return.
How to File a Tax Extension
Alright, so you didn’t file early. We’re chronic procrastinators here, we get it. If you can’t file on time, you should file an extension by the tax deadline. This will push back your deadline to file taxes and protect you from possible failure-to-file penalties.
If you file an extension by tax day (April 15, 2025), it extends your filing deadline to six months later: October 15, 2025. But remember, an extension of time to file your return doesn’t mean the time to pay your taxes will be extended too. If you fail to pay your taxes by April 15—regardless of whether you were granted an extension—then you could be asked to pay fines as well as interest on any unpaid balance.
What Happens if You Miss the Deadline?
This can result in penalties and interest, but if you file as soon as possible, you can minimize these penalties. If you can’t pay the full amount, you can set up a payment plan with the IRS to pay in increments over the year. If you forgot or just straight-up didn’t file for an extension (and owe taxes), you can face a late-filing penalty maximum of 5 percent of the unpaid tax (4.5 percent late filing and 0.5 percent for late payment). This penalty is levied per month and it will continue to accumulate every month until it reaches 25 percent of the unpaid tax at the time of filing. The government also charges interest on unpaid amounts, which varies depending on your amount and time owed. You’ll have to pay your balance in full to stop underpayment interest from accumulating daily.
How Long Does It Take to Get a Tax Refund?
The IRS typically issues your refund within 21 days of receiving your e-filed federal return if there are no errors or issues (fingers crossed). If you go old-school and file a paper federal return, it typically takes twice as long, and could even take up to eight weeks to get a refund. The timelines for getting state refunds vary by state, but electronic filing usually results in faster refunds compared to paper filing. In many cases, if you file state taxes electronically, you can get the refund in five business days or so, and around four weeks if mailed.
Where’s My Tax Refund?
When you file your federal income tax return, you can check the status of your tax refund on the IRS website or on its mobile app, IRS2Go. Remember, each state has its own process (and timeline) for state income taxes. Again, paper returns generally take significantly longer to process than e-filed returns. Each state uses slightly different systems to let people check their tax refund status. Generally, you’ll need two pieces of information to check your refund.
To check your status, you’ll need your Social Security number (SSN). (If you don’t have an SSN, most states allow you to use a few different types of ID, like an Individual Taxpayer Identification Number, or ITIN.) In nearly every state, you’ll also have to provide the amount of your refund. Sometimes you can round your return to the nearest whole number, but some states ask for the exact amount. Other states may also require additional information, like your date of birth, filing status, or zip code.
I’d suggest checking your refund on the IRS website first. Just remember, this is the government, so your refund information may not be immediately available. Your refund status should appear around 24 hours after you e-file a current-year return, three or four days after you e-file a prior-year return, or four weeks after you file a paper return. (Remember, you’ll need your SSN or ITIN, filing status, and refund amount to check refund status.)
What Are the Tax Brackets for 2024?
Unsure of what tax rate you’ll fall into? It all varies on whether you’re single, married and filing jointly, married but filing separately, or the head of a household. The tax rate goes in increments, starting at 10 percent for bottom earners (making less than $11,600 as a single person), and increases up to 37 percent for single or head of household folks making more than $609,351.
Here’s a quick chart showing the amounts for the projected tax brackets from 2024 to be filed in 2025.
