With the rapid development of the Internet of Things (IoT), the radio frequency identification (RFID) system becomes increasingly important. Tag identification is a basic problem of the RFID system, whose purpose is to inventory tags. However, in recent years, it requires a very short time for massive tag identification, which brings serious challenges. The traditional Aloha based anti-collision algorithms have disadvantages of either low efficiency or high complexity. Therefore, this article proposes a low complexity dynamic frame slotted Aloha (DFSA) anti-collision algorithm, named LC-DFSA. The reader can estimate the range of tag numbers according to the last frame size, the number of successful slots and the ratio of idle slots. Then the optimal frame size can be calculated. Complexity analysis is deployed in this article, and we validate the correctness of the analysis. Through our simulations, LC-DFSA outperforms other schemes in both the average access efficiency and the algorithm complexity. It also can be conveniently applied to engineering implementations.