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Tax Tip: How to File Electronically for Free

iStockphoto/Thinkstock(NEW YORK) -- Put down that pencil and paper.  The Internal Revenue Service now makes it possible to do all of your calculations electronically -- and it's free.

"If your income is around $58,000 or less, you can use a variety of software that's available through the free file link on  Then you can actually prepare your return and file it for free," explains Eric Smith with the IRS.

Smith says the software programs are the same ones you see on the shelves in stores.  If you're eligible, you can still use the free fillable forms on the IRS website.  They're essentially electronic versions of the 1040 and other forms.

"That's where you actually do e-file your return, but you use online forms," Smith says.  "It does some of the math for you, some of the verification.  Basically, it's for people who are comfortable with the tax forms, but still want the advantage of electronic filing."

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ABC News Radio