Whether you are a business or an individual, TurboTax can help you prepare your income tax returns. It is a leading product in its segment. It is produced by Intuit, and was launched in 1984.
Free version
Until last year, TurboTax offered a free version of its software to eligible taxpayers through the IRS Free File Program. This was available to about 70 percent of US taxpayers. However, last year, Intuit dropped out of the program, and the free version of TurboTax is now only available to one-third of American taxpayers.
The Free File program allowed eligible taxpayers to file their federal and state tax returns for free. This program was made possible by a public-private partnership between the IRS and private companies. The program was designed to encourage more taxpayers to file their taxes, particularly those with low incomes.
Intuit’s decision to participate in the Free File Program prompted consumer complaints. Intuit’s ads led consumers to believe that their taxes would be free, but they were actually required to pay.
Upgrades available
Keeping your personal data secure is a top priority, especially in the digital age. Intuit has done its part by encrypting all information at rest. The company has also incorporated a new multi-factor authentication feature.
TurboTax offers a slew of online resources to help you along the way. You can start by figuring out which features are included in your package of choice. You can also get free advice from tax professionals through the website’s TurboTax Live division. Finally, you can pay for your software and services with a credit card. If you’re still unsure about the nitty gritty, you can also ask for free tax preparation assistance at select brick and mortar locations. The best part is, you don’t have to wait for long.
If you’re in the market for a new tax software package, you may want to take advantage of the freebies offered by H&R Block or even TurboTax.
State filing and audit protection
Whether you are planning to file your taxes with a professional tax preparer, a tax accountant or a do it yourselfer, it’s important to be aware of state filing and audit protection options. Choosing the right one can save you a bundle in the long run. Aside from saving time and money, you’ll also be protecting your hard earned cash from the IRS sleuths.
The best way to go about choosing a service provider is to shop around. While some companies charge hundreds of dollars for a single return, others offer a multi-year membership for a modest price tag. In addition to saving money, you can also get access to a slew of other benefits, including unlimited filings and the opportunity to download a variety of free tax filing templates and forms.
W-2 capture
Using Turbo tax W-2 capture is a great way to speed up the process of filing your taxes. You can simply upload a picture of your W-2 to the TurboTax app, and the software will automatically enter the information for you. It also helps to ensure accuracy.
When filing your taxes, it is important to have a clear understanding of the different forms and deductions that you can claim. TurboTax can help you understand the basics of each form and the steps that you need to take to maximize your refund. It can also be used to help prepare you for an audit. It will also give you guidance if you are unsure of your answers.
The software also offers assistance with self-employment taxes. It will scan your W2s, and import information from your employer’s 1099s. It will also ask you for details of your stock transactions. It will even keep track of your stock market capital gains and losses.
Customer service
Getting good customer service at TurboTax is not all that difficult. You can find the customer service contact information on the company’s website or you can contact them via Twitter or Facebook. While the customer service reps are not tax experts, they can advise you on the best tax package for your needs. While it may seem counterintuitive, TurboTax has a free edition of their product for the simple tax filer. You’ll also be able to download the software via the Internet or through the mobile app for iOS or Android devices.
It’s a well-oiled machine that can solve most of your tax related headaches. From customer service and technical support to billing issues and identity theft, the folks at TurboTax are more than happy to help. You may even be able to recover a lost or stolen file thanks to their tech wizards.