3 Ways to Save $300+ During Tax Season

Posted by CapWay in TaxesMarch 11, 2019(Last Updated January 10, 2023)1 min read
Key Takeaways
  • If you prefer to file your taxes, the IRS allows you to choose from 12 free tax filing programs. 
  • It's important to avoid scammers during tax season. 
  • Dishonest practitioners can add false information to give you a bigger refund that you do not qualify to receive.
Are you ready to make some real money moves?

File Your Taxes for Free 

 

If your Adjusted Gross Income (AGI) is $66,000 or less, you may qualify for two IRS options to file your taxes for free. 

 

Option 1: Volunteer Income Tax Assistance (VITA) Centers 

 

VITA sites are located in communities across the country. You can schedule an appointment to file your taxes with a trained tax preparer at a VITA site. Appointments are available from February through April, with some locations offering tax help through October.  

 

Click here to find a site. 

Option 2: Free Self-Filing

 

If you like to file yourself, the IRS allows you to choose from 12 free tax filing programs, including H&R Block and TurboTax. 

Lady filing her income and business taxes

 

Learn more about free tax filing software partnerships from the IRS. ​

  

Avoid Refund Anticipation Loans

 

Offers for “Instant Refunds” or “Quick Cash” cost you more in the long run. For example, many tax-preparing companies claim that their loans are 0% interest. But, in reality, the company is tacking on fees to make the money they would have made if they charged interest.

Avoid the Scammers 

 

Just because a tax preparer promises you a bigger refund does not mean that it will be done in good practice. Dishonest practitioners can add false information to give you a bigger refund that you do not qualify to receive. As a result, you could be audited and end up with an enormous tax bill, fines from the federal government, and added stress.

Was this content helpful?
Comments (0)

Sign In to leave a comment.

Download the CapWay App

Access more features to your Money Account

  • Money Goals
  • Request Money
  • Categorize Spending
  • Money Talk

The CapWay, Inc Debit Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.

1. For Money Account holders with a negative balance, the CapWay debit card will go into freeze until funds are deposited to bring account back to current. See terms and conditions

2. Sending or receiving money from other CapWay account holders will be instant. Transfers from other accounts could take up to 48 hours, depending on the financial institution.

3. Early access to funds requires direct deposit. Early payment is not guaranteed and is dependent on the timing of payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

4. Money Goals allows account holders to save money towards financial goals created within the CapWay platform. Funds can be transferred from your Money Account or saved through the rounding up of your transactions from purchases.

5. CapWay offers financial content through Learn Money free of charge, but may include advertisements through affiliates. Phunds, CapWay's literacy program and session, is paid content or co-branded content.

© 2019-2023 CapWay Inc. All Rights Reserved.