It even offers a 100% accurate calculations guarantee, which covers your fees if a mistake on your TurboTax return gets you in trouble with the IRS. While the free edition will walk you through the basics, the paid versions offer features for crypto investors, freelancers and small business owners to make sure you are getting the most money back. If you run into any problems, you can get assistance with the product of your choice or turn your return over to a pro to complete. GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
How do I get my refund?
TurboTax’s customer support ranges from AI-driven chatbots that answer tax or technical questions to experts who provide live, on-demand advice to tax professionals who offer full-service tax preparation. You can import tax forms directly from payroll providers, banks, and investment companies into the TurboTax system to auto-fill many of the prompts you’ll encounter when preparing your return. You can also upload your tax return from last year from your computer or phone. Within the mobile app, you can take a photo of your income documents and upload supported forms. If you want someone to represent you in front of the IRS, you’ll need TurboTax’s audit defense product, called MAX. It runs an extra $39.99 and includes features such as identity theft monitoring, loss insurance and restoration help.
While Cash App’s tax software is free for everyone — even those with more complicated tax situations — it does not provide guarantees or assistance from experts like TurboTax. TurboTax offers three online filing options, targeted at different individuals based on their financial situations and needs. All plans come with basic features, like easy W-2 import and a comprehensive review of your tax return before you file.
Live Assisted
When you go through big changes, like getting a new job or having a baby, it might affect your taxes. We’ll help you understand how and find new deductions for your situation. All products featured on Wired are independently selected by our editors. However, we may receive compensation from retailers and/or from purchases of products through these links. During the process, a banner at the top of the screen keeps a running tally of your estimated federal and state refund or amount due. I may be compensated through 3rd party advertisers but our reviews, comparisons, and articles are based on objective measures and analysis.
All TurboTax Free Edition features
You’ll receive a notification when your return is accepted by the IRS. Once approved, you can usually expect your refund within a few weeks. Though professionally prepared returns still outnumber self-prepared returns, the gap is shrinking as more people discover the convenience and cost savings of doing it themselves. While not as smooth as its top competitor, H&R Block features a well-designed, interview-style system that helps you navigate the tax-filing process and avoid mistakes.
Self-employed workers who use QuickBooks for their accounting may have a smooth filing experience with TurboTax, as both services are provided by the same company, with integration between them. We evaluate each tax software based on specific features and the actual experience of filing taxes using those features. This includes but is not limited to analyzing navigation, ease of accessing help, available import options and the quality of contextual guidance provided to users. TurboTax offers a free version that lets you file a Form 1040 and claim limited tax credits.
Choose the option that best fits your needs
The preparer files the return for you, and if you choose to use Full Service next year, you can even request to work with the same tax pro if they’re available. The free package is designed for people with fairly simple tax returns. It won’t handle itemized deductions or the full Schedule 1, 2 or 3 of Form 1040, but it can handle W-2 income, basic credits like the child tax credit and the earned income credit and student loan interest deduction. Whether you opt for the Free Edition for simple tax returns or invest in a more advanced version like Premium or Self-Employed, TurboTax Online provides a range of options to help you file your taxes accurately and efficiently. TurboTax Live Assisted is a service that combines the convenience of do-it-yourself tax software with the assurance of expert help.
TaxAct’s one-on-one professional tax assistance service, Xpert Assist, is also available for $20 to $199 depending on the package you choose. Its free help tools for tax filers include a handy tax glossary and instructions for filling out a wide range of common tax forms. Eventually, for more complex tax situations, you may need additional documents like mortgage statements or other detailed financial information.
- It’s unclear how the reviews are solicited or selected to appear on the website.
- When you file electronically, the IRS will provide a status of your tax refund within 24 hours of e-filing or within four weeks after you’ve mailed your return.
- That means that if you find a bigger refund or smaller overall tax payment from another method, it will refund you the federal or state purchase price you paid for access to its programs.
- Tax software allows you to import your tax information directly onto your return without needing to handle physical forms or manually enter the data.
- Many services offer contextual help and support to answer your questions along the way.
Pro Support includes the benefits of Deluxe and adds access to a tax pro, phone support and live screen share. Like most online tax software, FreeTaxUSA lets you upload your previous tax return to get you started. You will be required to manually input a large amount of information. Tax services like TurboTax, H&R Block and TaxAct are now charging full price to file online, unless you qualify to file for free or opt for a budget service that lets you file for cheap. Certified public accountants and tax professionals may also charge more to file your return after Tax Day. These prices are the list prices advertised as of March 4, 2025, without any discounts that TurboTax may offer to people who file early in the tax filing season.
TurboTax offers several features designed to simplify tax preparation and help users get the biggest possible refund. One standout feature I really like is the ability to import W-2s, 1099s and investment income reports directly from financial institutions. When you file, you can provide bank account details to have your tax refund securely direct deposited.
Both companies offer access to expert assistance with paid packages. But easier navigation and quick importing of data from financial companies and expense trackers are features that give TurboTax a slight edge over TaxSlayer. H&R Block has something for everyone, whether you’re filing online yourself, looking for expert advice, or want to hand it off to a professional. While it doesn’t offer the lowest prices you’ll find for tax software, the quality of the overall user experience can justify the higher cost. Individual filers are also guaranteed to receive their maximum refund with TurboTax.
- It’s also easy to import your tax return from last year, even if you used a different filing service last year.
- Investment reporting and rental income (Schedules D and E, and K-1s), plus business income, expenses on a Schedule C, home office deductions and features for freelancers.
- TurboTax’s range of filing options caters to different financial situations, whether you’re single, married, a homeowner or self-employed.
- The cost of TurboTax Online varies depending on the version selected and the complexity of your tax situation.
The end of Direct File fits neatly in the predatory economy Donald Trump and his Republican enablers want. His administration has all but destroyed the Consumer Financial Protection Bureau at the behest of Big Tech. He’s delighted the banking industry by revoking CFPB regulations that capped credit card late fees, and he is expected to sign legislation rolling back a Biden-era rule to limit bank overdraft fees to $5. His Department of Justice has pulled back on policing financial crimes, from fraud in the crypto industry to bribery of foreign officials. And the IRS, partly at the direction of DOGE, is shrinking its workforce by tens of thousands with both buyouts and illegal firings. That will make it harder for ordinary taxpayers to receive help from the agency — and easier for billionaires to evade taxes.
Taxes aren’t fun but they don’t have to be expensive, there are several ways you can get free or turbotax filing options heavily discounted tax preparation software. However, the free version of their online software is more comprehensive than TurboTax’s version. So, if you don’t qualify for the free version of TurboTax, check out H&R Block.
To receive your refund, you can directly deposit it into a checking, savings, brokerage or IRA account. TurboTax also allows you to use the refund to buy U.S. savings bonds or apply it to next year’s taxes, which shows up as a tax credit. Additionally, TurboTax’s Refund Advance option allows you to receive a free 0% APR loan of up to $4,000, although your advance is based on the size of your federal return and your tax information. If you would like additional peace of mind, you can upgrade from the basic offering to TurboTax’s Live Assisted option. Upgrading allows you to talk with a tax professional who will review your return to guarantee it’s done correctly. We rated TurboTax’s well-known online tax software on cost, value, user experience, access to experts, and importantly, its trustworthiness.
Getting audited is scary, so it’s important to know what kind of support you’re getting from your tax software. First, be sure you know the difference between “support” and “defense.” With most providers, audit support (or “assistance”) typically means guidance about what to expect and how to prepare — that’s it. Audit defense, on the other hand, gets you full representation before the IRS from a tax professional. You can also use an electronic funds withdrawal to pay directly from your bank account — that is, if you’re e-filing your taxes and using tax preparation software, a tax professional or IRS Free File.
Our TurboTax review looks at where TurboTax excels and how much it costs so you can decide whether you might want to file with it in 2025. It does contain Schedule C which I have used in the past (small sidehustle). I am just wondering if it handles the new QBI calculation correctly, since it’s asking me for manual entries upon federal review. One of his favorite tools (here’s my treasure chest of tools, everything I use) is Empower Personal Dashboard, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you’re on track to retire when you want.
