Disclaimer: This Inside South Florida segment is sponsored by Economic Security Project. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
As tax season approaches, many Americans find themselves scrambling to file their taxes at the last minute. According to a recent study by IPX, an estimated one-third of Americans wait until the eleventh hour to do their taxes. However, there's good news for millions of Americans this tax season: Direct File, a free tax filing website, is now available to simplify the process. In a recent interview on Inside South Florida with Bharat Ramamurti, senior adviser to the Economic Security Project, he shed light on the benefits of Direct File and how it's revolutionizing tax filing for eligible individuals.
Direct File, as explained by Ramamurti, is a free, fast, and secure website offered by the IRS. It allows individuals to file their taxes online, bypassing the need for paid tax preparers or online filing services. Eligible individuals, particularly those with income reported on a W-2 form (such as wage income from employment), can use Direct File to file their taxes quickly and efficiently.
Ramamurti highlighted the significant impact Direct File can have on taxpayers, particularly in states like Florida. According to projections, the typical person spends approximately $150 on tax preparation and nine hours on filing their taxes. Direct File eliminates these costs and saves time, with reports indicating that individuals are able to complete their taxes in about an hour using the website.
The tool is especially beneficial for individuals with straightforward tax situations, such as those with income reported solely on a W-2 form. Additionally, it helps ensure that eligible individuals receive the tax credits they're entitled to from the federal government, potentially resulting in significant refunds.
Looking ahead, Direct File is just the beginning of a multi-year program by the IRS to streamline the tax filing process. The goal is to expand eligibility and eventually have all taxpayer information prefilled on the IRS website, making tax filing as simple as a few clicks.
For those interested in learning more or determining their eligibility, Ramamurti directed individuals to visit directfile.irs.gov. The website guides users through the process, asking simple questions to determine eligibility and enabling them to file their taxes quickly and free of charge.
