If you are considering paying one of those tax preparation agency to help you prepare the EZ tax return think again. The typical cost for preparing your EZ tax return is $39.00. There is also an additional fee applied with the earned income tax credit. That cost is usually $35.00.

The tax preparation companies say that for your money you are getting the expertise of the company. If they make a mistake they would pay any additional interest or penalties. If you were to be audited they explain the notice and tell you what you need to do to comply with IRS audit process.

But a recent column in the business section of our local paper pointed out that the IRS will do all this for you – for free. The size of a taxpayer’s household and paycheck determine eligibility for the Earned Income Tax Credit. To qualify for the credit the taxpayer’s earned income and adjusted gross income must be less than:

Earned Income Tax Credit Qualifications

- $13,400 single with not children or $18,400 if married

The maximum credit amounts for the categories range from $457 for taxpayers without children to $5,657 for those with three or more.

Taxpayers are eligible to use the 1040-EZ if they:

- Have taxable income of less than $100,000
- Have no dependents
- Have a filing status of single or married filing jointly
- Have no mortgage payment
-Claim the standard deduction and do not itemize

If you meet the conditions listed above you can use the EZ tax return. The form is only two pages and you can use the IRS’ free electronic version of the tax form that does the math for you. Go to www.irs.gov/freefile

If you also qualify for the Earned Income Tax Credit, use the worksheet attached to the form’s instruction booklet to figure out what the credit will be for you. If you are still having problems there may be free help available. In our area if you make less than $50,000 you can get your tax return done for free by IRS-certified tax preparers. Check out the possibility if you qualify.

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