Save Money on Taxes

Ways to save money on your taxes.

| January 17, 2012

Who isn’t looking to save a few bucks these days? The Internal Revenue Service offers some easy ways you can save money on your taxes.

IRS Free File. Fast and easy, IRS Free File allows everyone to prepare and e-file their federal tax returns for free. And, the step-by-step, brand-name software offered by IRS’ commercial partners helps you find the tax breaks you are due.

Each of the approximately 20 private-sector partners tailor their offerings based on criteria such as income, age or state residency. If you need help finding a Free File match, just select the “Pick a Free File company” as your option at the right side of the video on the homepage. Simply enter a little information about yourself, and the matches will appear. Some also offer state returns for free or for a fee.

  • While all the companies have different criteria, if you made $57,000 or less in 2011 — and that’s 70 percent of us — you will be eligible for at least one free tax software program.
  • If your income was higher than $57,000, you can still prepare and e-file your return for free by using Free File Fillable Forms. This is the electronic version of IRS paper forms.

Just go to to get started.

Organize Records. The IRS recommends keeping all tax-related documents for three years, in case of an audit. Keeping track of income-related documents can help you take full advantage of deductions available to you.

Records to have handy when it’s time to fill out this year’s returns:

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