Tax software packages usually come at different price levels for different services, ranging from about $10 to $150, depending on how complex your taxes are. Though the IRS has an income cut-off of $58,000 for its free file program, there are some software companies, like TaxAct and eSmartTax, that offer free filing to people who make more than $58,0000, as long as they only need the basic software package.
The IRS estimates that an individual taxpayer with a median income spent $258 preparing taxes in 2007. Those costs could include money spent on software or hiring a tax preparer.
Of course, filing with an electronic or paper form is always free. But according to data from the Taxpayer Advocate Service and the Bureau of Labor Statistics, filing individual and corporate taxes cost the equivalent of $163 billion in time in 2008. So the question is, how do you value your time?
