Finding the best deals on tax preparation can be daunting, but fortunately, the year 2024 has brought forth several cheap or even free options that are beneficial for those looking to file without breaking the bank. With the rise in fintech software development and increased competitiveness among companies, consumers now have access to an array of cost-effective tax filing solutions. Here’s a round-up of some of the best deals available this year.

Starting with the industry leaders, TurboTax continues its trend of offering a free version for individuals with simple tax returns. Ideal for W-2 income earners without major investments or large-scale deductions, TurboTax’s free version includes guidance through the filing process and guarantees no hidden fees.

H&R Block also jumps on the cost-savings bandwagon with a free version that caters to new filers and students. Their platform provides features such as easy import of last year’s tax return and clear instructions for those who may be navigating their taxes for the first time. Additionally, H&R Block hosts several discount deals if you need more advanced services.

A noteworthy mention is TaxAct—a robust option with its free tier covering federal filing and offering competitive pricing for state returns. Users can enjoy features like donation assistance and educational resources on taxation at no added expense.

For an entirely free experience, Credit Karma Tax maintains a popular position by offering both state and federal filing at no cost. While it may not be as comprehensive as premium versions, Credit Karma Tax is equipped well enough to handle common deductions and credits.

FreeTaxUSA is also gaining traction with its free federal filing service, charging nominal fees for state returns. Additional bonus features include prior year return retrieval and exceptional customer support.

Moreover, 2024 has seen growth in less known but highly efficient programs like Tax Slayer, which offers its Simply Free package including one free state return along with your federal.

Lastly, community-driven initiatives like The Volunteer Income Tax Assistance (VITA) program continue to provide free tax help to people who generally make $60,000 or less, persons with disabilities, the elderly, and limited English-speaking taxpayers. Although not software-based, it’s a valuable resource facilitated by IRS-certified volunteers.

When searching for cheap or free tax prep software in 2024, it’s essential to assess what fits your financial situation best while also staying vigilant about hidden costs often masked as “free.” This overview should arm taxpayers with information on viable options to file taxes effectively without heavy fees.