- Free tax preparation services. If your 2007 adjusted gross income was $54,000 or less, you can use Free File to prepare and file your Federal Income Tax Return online. Other resources available are the Tax Counseling for the Elderly program and the Volunteer Income Tax Assistance program. - The Earned Income Tax Credit (EITC), which is a federal income tax credit for people who work but have low incomes. - The Alternative Minimum Tax (AMT).