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Contributed by: CoryF, FreeTaxUSA Agent, Tax Pro You’ve heard about the new ”No Tax on Overtime” deduction from the One Big Beautiful Bill Act (OBBBA), and you have your 2025 W-2. Now you’re wondering what this deduction means for you and how to apply it to your tax return. This article will help you understand the…
Contributed by: AndyS, FreeTaxUSA Agent, Tax Pro The One Big Beautiful Bill Act (OBBBA) passed this year and will introduce several tax law changes, affecting 2025 tax returns. One of these changes is the child tax credit (CTC). Many taxpayers with dependents find a lot of relief with the child tax credit on their tax…
Contributed by: Henry, FreeTaxUSA Agent, Tax Pro On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law. This new law extended and replaced the Tax Cuts and Jobs Act (TCJA), which was set to expire at the end of 2025. The OBBBA takes effect from 2025 through 2028. You may be wondering what…
Contributed by: MatthewD, FreeTaxUSA Agent, Tax Pro With the introduction of online brokerage accounts and apps for smart phones, more people are investing in the stock market on their own. The statement you get from your brokerage company will likely be a composite or consolidated statement and will have several 1099…
Contributed by: RachelR, FreeTaxUSA Agent, Tax Pro and Henry, FreeTaxUSA Agent, Tax Pro This article applies to 2024 and later. The basic example assumed both the traditional IRA contribution and the Roth conversion step happened in the same year (for example, both events happened during 2024, for the 2024 tax year).…
Contributed by: PhillipB, FreeTaxUSA Agent, Tax Pro Not receiving your tax refund when expected can be extremely frustrating. To make the issue worse, the IRS is not very clear as to why your refund is taking more time. While FreeTaxUSA doesn't have any control over IRS refund processing, we can provide some ideas on why…
Contributed by: Henry, FreeTaxUSA Agent, Tax Pro The sale of an inherited home is a significant event that comes with its own set of tax implications and requirements. Understanding how to correctly enter Form 1099-S from a sale is crucial for accurate tax reporting and compliance. Information required to report the sale…
Where can I claim an education credit on my tax return?
I'm hoping for a decent refund this year. When is the soonest I can file? And when would my refund come? Thx.
my home was refinance prior to selling it…do I use the amount of the refinanced for the sale of the house. I lived in my main home for 40 years.
I get the IRS IP Pin every year. (Note: now available online 1/14/2026) After you efile, can you go back and remove it?
In December I started a 2025 return, using my best estimates for W2, 1099s, etc. to help me decide amounts for Q4 Estimated Tax payments. I'm starting to get actual official forms now and would like a "clean slate". Is there a way to reset - delete and start over - without creating a separate account for my 2025 return?…
Hello, As stated I am looking to see if there are any required or helpful steps my wife and I should take prior to filing jointly for the first time? I mean this both generally and regarding the software? Should we make a new account or just use one of our pre-existing ones? The posts that I have found on the discussion…
Hi, can I prepare my taxes and pay the state filing fee then e-file when the systems are back up? or do I have to mail it in now?
This is the first year I will be filing pension income from working as a State Trooper. In addition I also started receiving pension income for my National Guard service. My understanding, due to tax changes in the past 4 years or so, is that my State Trooper pension is federally taxed but exempt from State tax. My…
I'd like to use this software this year, but I do need to attach a PDF statement about the sale of my business, for form 8960. I can't find a way to do this. Is this possible?
Is FreeTaxUSA going away?
The IRS announced Thursday, January 8, 2026 it will begin accepting 2025 tax returns. States generally follow the opening date, but not all. With FreeTaxUSA, you have the option to file your federal tax return first, and later file your state return. As always, your federal tax return remains 100% free to file with us.
My Wife and I take care of Our Great Grand Daughter, while her Parents work… My Wife is retired I am not, we watch her 7 hours a day 4 days a week, is there some type of Tax Credit I can used? Thanks
I filed with FreeTaxUSA in 2024. Can I import prior 2024 year financial data into 2025 and edit as needed?
FreeTaxUSA has been getting bombarded with questions about how to claim the Overtime Deduction. See this article for details: How to claim the new OBBBA overtime deduction - FreeTaxUSA Community
Can I contribute the $7000 IRA Max to my personal Roth IRA, and still make payroll deduction contributions to my employer's SIMPLE (Roth) IRA in the same year? Do I have to stop contributing to my personal Roth IRA totally, if I want to exceed $7000 to my employer's SIMPLE Roth plan (or even max-out to $16,500)? I'm a…
This past year Monopoly and McDonalds had there giveaway where they did cash and other prizes. Sadly didn't win any cash prize, but I did come away with a haul of non-cash prizes. I'm curious what threshold there is for having to claim any of this as income and what anybody would use to determine value.
I'm looking to see if any other FreeTaxUSA users are looking at the new floor on charitable donations. Starting in the 2026 tax year itemizers who make charitable contributions will only be able to claim a tax deduction to the extent that their qualified contributions exceed 0.5% of their adjusted gross income (AGI). My…
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