Wednesday March 22, 2023 – The Inflation Reduction Act provided the IRS with a boat load of money. The Act also put aside $15 million for the IRS to conduct a study to find out how to create a program that allows Americans to file their taxes for free.
As we all know. There is nothing more expensive than when the government gives something away. This free tax filing plan was the brain child of Senator Elizabeth Warren. She insisted this provision be included in the Act before she would support it.
What most of the public does not know is – there is already a free file program at the IRS. If you make less than $73,000.00 you can file your 2022 federal tax returns for free.
However, the Free File progrqam is not used by many taxpayers. According to the IRS, More than 100 million people, almost 70% of all taxpayers, qualify for Free File. Since the program launched the Free File program in 2003, according to the IRS, less than 2% of eligible Americans have taken advantage of it.
Attorney Steven A. Leahy talks about the IRS Proposal to prepare tax returns for all Americans.