Chime, a popular banking app, has announced that members can now file taxes for free directly from the Chime app to simplify tax season. Following a successful pilot programme in 2024, this new in-app feature is available for all new and existing Chime members and offers a truly streamlined e-filing experience with no unexpected paywalls and no filing fees. Members can file their federal and state taxes directly through the Chime app, saving time and money.
“Americans are frustrated by the tax filing industry, which is notorious for high fees and deceptive marketing. They’re tired of bait-and-switch services that seem free but ultimately charge users a fee to get their refunds,” said Chime’s Chief Product Officer, Madhu Muthukumar. “Getting your money back from the government shouldn’t cost you money. By providing completely free in-app tax filing, we’re empowering Americans to unlock their financial progress confidently, making tax season easier and more rewarding.”
This feature comes as the average cost of filing a basic federal 1040 tax return was US$150 for non-business taxpayers in 2023. According to the Tax Foundation, total tax compliance costs—including fees, lost productivity, and out-of-pocket expenses—are estimated to cost American taxpayers over US$546 billion annually, representing 1.9% of the US GDP.