Iron carbides have attracted increasing attention in recent years due to their enormous potential in catalytic fields, such as Fischer-Tropsch synthesis and the growth of carbon nanotubes. Theoretical calculations can provide a more thorough understanding of these reactions at the atomic scale. However, due to the extreme complexity of the active phases and surface structures of iron carbides at the operando conditions, calculations based on density functional theory (DFT) are too costly for realistically large models of iron carbide particles. Therefore, a cheap and efficient quantum mechanical simulation method with accuracy comparable to DFT is desired. In this work, we adopt the spin-polarized self-consistent charge density functional tight-binding (DFTB2) method for iron carbides by reparametrization of the repulsive part of the Fe-C interactions. To assess the performance of the improved parameters, the structural and electronic properties of iron carbide bulks and clusters obtained with DFTB2 method are compared with the previous experimental values and the results obtained with DFT approach. Calculated lattice parameters and density of states are close to DFT predictions. The benchmark results show that the proposed parametrization of Fe-C interactions provides transferable and balanced description of iron carbide systems. Therefore, spin-polarized DFTB2 is valued as an efficient and reliable method for the description of iron carbide systems.