Four Tax Tips to Help You File with Confidence
With April 15th just around the corner, now is a good time to prepare for filing your taxes. United Way is here to help!
Since 2009, United Way has helped some 1.45M people across the U.S. save $290M in filing fees and get more than $2.1B in refunds through My Free Taxes.
My Free Taxes is the largest free online tax filing product offered by a nonprofit. It allows U.S. tax filers who earned less than $84K last year file their federal and state taxes online -- for free. The secure software walks you through the filing process and screens for common tax deductions and credits you may be eligible for. In 2024, My Free Taxes helped people get $18.9M back in Earned Income Tax Credits, and $10.5M back in Child Tax Credits. In Lane County alone, filers who used My Free Taxes in 2024 received an average refund of $922.
In addition to using My Free Taxes when filing returns, tax experts offer the following tips to minimize mistakes and to maximize your refund this tax season.
Choose Carefully
One of the most common mistakes taxpayers make is selecting the wrong filing status. That can affect the credits and deductions you’re eligible for, the value of your standard deduction, and even your tax bracket.
This is especially true when taxes get complicated. For example, if a taxpayer with children is getting divorced, they may not be sure if they should file as “married filing jointly” or “married filing separately” or whether they qualify to file as head of household. MyFreeTaxes can help answer those questions. Use My Free Taxes’ Help Line to talk to a real person trained by the IRS.
2. Check Yourself
Always double-check the basics on your tax returns and make sure your name and the names of your spouse and/or dependents and Social Security numbers are right. Make sure to double-check information you’ve pulled from your W-2 — transposing numbers or entering numbers in the wrong fields are common errors.
3. Find YOUR CREDITS & DEDUCTIONS
Nearly 5M American taxpayers leave an average of $3,000 each on the table each year by failing to claim common deductions and exemptions, experts say. My Free Taxes automatically screens for credit and deduction eligibility for things like the Earned Income Tax Credit (EITC) and the Child Tax Credit. In 2024, My Free Taxes helped people get $18.9M back in EITC, and $10.5M back in Child Tax Credits.
Nearly 20% of eligible people don’t claim the EITC. Depending on income and number of children, that could mean leaving up to $7,000 on the table. You may think you can’t get the EITC if you don’t earn enough money to file a return. This is incorrect. The EITC is a refundable credit, so even if you don’t owe taxes, you can still get the EITC. Check it out on MyFreeTaxes.com!
4. School Yourself
Education credits are another often-overlooked benefit. Depending on the kind of academic program, what year the student is in, income and other restrictions, a student may be able to use the American Opportunity Credit of up to $2,500 or the Lifetime Learning Credit of up to $2,000. My Free Taxes software screens for that automatically as it guides you through your returns.
Using My Free Taxes can help you avoid all four of these mistakes. Best of all, you can do it in about one hour, on your phone, tablet, or laptop – and save tax prep fees. Go to MyFreeTaxes.com to get started today!
Looking for other ways to file in 2024? Learn more about OSU’s Volunteer Income Tax Assistance (VITA) program, as well as AARP’s Tax-Aide.