TurboTax has partnered with the Internal Revenue Service (IRS) to create software that people can use to file their tax returns without incurring unnecessary expenses. Filing federal tax returns used to be such a costly exercise for most people in the US, but because of Free File Alliance partnership between IRS and TurboTax, people can do it at much lower costs, and in certain cases, free. However, you need to meet a number of requirements first, before you can even think of filing your federal tax returns free. The requirements include the following:
a) Your Adjusted Gross Income is not more than $28,500
b) Being eligible for the earned income credit
c) Having actively served as a military officer
Some of the other software or tax preparation software that make it easier for people to file their returns without much delays and difficulties include H&R Block TaxCut, TaxSimple and CompleteTax to mention only a few. Thus far, TurboTax review continues to be in great demand from a large section of American taxpayers. One reason for its increasing popularity has to do with the fact that the tax preparation software is one of the easiest to use, and its online version gives users a level of convenience they never get with other types of tax preparation systems. Read comparison on Turbotax vs H&R Block here.
TurboTax is also popular because of its step-by-step instructions to people interested in preparing their tax returns forms for submission. When using its online version, you will receive guidance and pop up tips along the way, to eliminate chances of filing wrong or inaccurate returns, which could be too expensive for you in the long run. Moreover, the entire process is not hurried along, and the software allows you to prepare your tax returns at your own pace, until you are certain that you have included and entered all the relevant information accurately.
TurboTax is more popular with American taxpayers, because it is easy to use regardless of your skill set where computers and taxes are concerned. It comes fitted with FREE calculators that you can use to check or determine how much money you should be paying as tax. Therefore, as you increase your skills of preparing tax returns, you give yourself the best chance ever of enjoying more tax refunds. The reason for this is that you eliminate the common mistakes people make when preparing their tax returns, thus IRS has a clear picture of what to refund to you.
Finally, if you want to be on time with your tax returns submission, then it is a good idea to invest in TurboTax. The step-by-step guidelines ensure that at the end of it all, you are well equipped to file your returns, without necessarily parting with huge sums of money to pay your tax accountant, or hiring a professional to do this work for you. It is also a much better way of staying up to date with your own financial situation. Using the TurboTax software, you end up becoming better at preparing tax returns, and you can even do it for others at a fee.