Zach Cohen, head of digital products for Jackson Hewitt, said going with one flat price gives consumers the reassurance that they won't be charged more than expected.
Anyone who does a quick internet search for online tax filing, Cohen said, will see that almost every single listing says "Free. More: Want to file your tax return for free? TurboTax opts out of major program. While many may be happy with a low price guarantee, some who once benefited from free tax software services at Jackson Hewitt might not be thrilled at the standard pricing. Cohen said the company's research found a pretty limited subset of people actually qualify for free.
Before making such a move, he said a taxpayer needs to consider that their tax profile may become more complicated in the near future — such as returns involving online brokerage accounts, a first home, and freelance income.
And there's the convenience factor of working with the same company or the same online software brand. Jackson Hewitt's pricing goes against some marketing campaigns that push free services. There are no income restrictions. Last tax season, the company said, more than 17 million people filed their taxes with TurboTax and paid nothing, which was more people than in any year in company history.
This year, TurboTax said it is expanding its free offer, allowing filers with simple returns to file completely free of charge using its different services. Filers have a Feb. This product allows you to hand over your return, completely, to a tax expert. Tax filers using TurboTax Live Basic to file a simple return would pay nothing if they file through March This product offers help from a tax expert along the way.
Who has a simple return? According to TurboTax, it's a taxpayer who is filing only a Form TurboTax Free Edition, TurboTax Live Basic, and TurboTax Live Full Service Basic help tax filers whose tax situations can include W-2 income, limited interest and dividend income, opting to take the standard deduction, as well as those who claim the earned income tax credit, child tax credit, and report student loan interest.
Before you assume that you'd be able to file your tax return for free, check out what restrictions apply online. Many times, you're not going to be able to use free tax software online if you've sold stock, sold your home, had mortgage interest, paid real estate taxes or have freelance income. TurboTax says that situations not covered by TurboTax Free Edition, TurboTax Live Basic, and TurboTax Live Full Service Basic include returns that opt for itemized deductions, report unemployment income reported on a G, report business or NEC income, include stock sales, rental property income and credits, and report deductions and income reported on schedules The software for self-employed searches for more than deductions and credits.
Tax filers need to review their tax situations and forms, as they try to find the best free services, too. You'd have to pick a tax software provider that's participating in the system and would offer services for those in your situation. Doing taxes is never really fun, but saving a bit more money along the way on tax prep can ease some of the pain.
We make tax filing easy with one-on-one attention from skilled Tax Pros, guarantees, bonus rewards, and much more. Over 5, across the US, including 3, in Walmart. Our Tax Pros will connect with you one-on-one, answer all your questions, and always go the extra mile to support you.
We have flexible hours, locations, and filing options that cater to every hardworking tax filer. Find my nearest or Zipcode or city. View offices on map. Zipcode or city Find an office. The tax refund advance loans are funded by MetaBank. Here are some other things to keep in mind. Image: Woman standing in her kitchen, making breakfast and looking at her phone.
In a Nutshell Jackson Hewitt offers tax refund anticipation loans around the beginning of tax season. Advertiser Disclosure We think it's important for you to understand how we make money.
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