While these features offer peace of mind, it’s important to note that audit support is limited to guidance rather than full representation. TurboTax offers a tool called the Deduction Maximizer, which helps users uncover tax breaks they might otherwise miss. It scans for eligible deductions and credits, including mortgage interest, student loan interest and charitable contributions. You can use the app to snap a pic of your W-2 and other documents and your information will be automatically entered in your return. It’s important to note that the mobile app doesn’t have access to the print center or tax tools. As of March, the IRS reported the average direct deposit tax refund this year is $3,330.
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One standout feature I really like is the ability to import W-2s, 1099s and investment income reports directly from financial institutions. The online version offers the flexibility of accessing your tax information from any internet-connected device, with data securely stored in the cloud. You can switch back and forth between TurboTax online and the app seamlessly.
Interest Rates, Inflation, and Your Taxes
Whether you’re getting started or getting serious, here is everything you need to know about taxes and investments. If you don’t have your forms on hand, you can auto-import your info from your W–2s or 1099s directly from more than a million participating employers and financial institutions. After installing the software, open it and follow the onscreen instructions to file your return. TurboTax software can be downloaded directly from the TurboTax website, or purchased from popular retailers like Costco and Best Buy, both online and in-store. The company is also investing heavily in AI to help automate filing and catch potential mistakes in real-time. Profit and prosper with the best of expert advice – straight to your e-mail.
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Another common tax question is whether to file your taxes jointly or separately with your spouse. The answer depends on several factors, including your income, deductions, and credits. If you’ve already received a letter from the IRS for a return you filed with TurboTax, please review our Audit Support Guarantee for instructions on how to receive FREE step–by–step audit guidance and the option to connect with an expert. These volunteers also offer tax counseling, along with free basic income tax return preparation.
TURBOTAX ONLINE GUARANTEES
If you have a 1099-NEC, your taxes may be a bit more complex—which means the TurboTax Free Edition likely won’t cover it. If you’re self-employed, a freelancer, or earning gig income, you may need to upgrade to a paid version to unlock tools that maximize your deductions and help you keep more of what you earn. TurboTax’s free options are available to taxpayers who have W-2 income and claim a handful of common credits and deductions, such as the standard deduction, earned income tax credit, child tax credit and student loan interest deduction. Already, Intuit’s near-decade of deep expertise in AI-driven document understanding with TurboTax enables broad support for tax document import, upload, and photo capture, and auto-fill of a majority of tax returns, minimizing manual data entry. Already, Intuit’s near-decade of deep expertise in AI-driven document understanding with TurboTax enables broad support for tax document import, upload, and photo capture, and auto-fill of a majority of tax returns, minimizing manual data entry. The free version is designed for simple tax returns and may not cover more complex situations like itemized deductions or certain types of income.
For example, once the IRS opens e-filing for tax year 2024 returns, you can only e-file 2024, 2023 and 2022 taxes. Don’t worry about paying taxes on the entire amount reported on Form 1099-K. You can claim your expenses directly related to your business, lowering your income reported on Form 1099-K. Those who qualify for the IRS Volunteer Income Tax Assistance (VITA) program can also file their taxes for free. TurboTax is proud to support this program, which provides free electronic tax return preparation for individuals who fall within set income thresholds.
Qualifying active-duty and reserve military members can also file for free. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Features like document import and deduction-finding tools can help maximize your refund, but it’s important to consider whether you actually need the higher-tier upgrades or expert help. Not every filer will benefit from these paid add-ons, so review your tax situation carefully before choosing a version. Finally, users can file state tax returns through TurboTax for an additional fee in most cases.
Over the past 10 years, Americans have filed approximately 124 million tax returns completely free of charge using TurboTax, more than all other tax prep software companies combined. About IntuitIntuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible.
“Google Cloud’s partnership with Intuit showcases the power of AI to solve real-world problems by simplifying the tax preparation process for millions of TurboTax users this tax season,” said Thomas Kurian, CEO of Google Cloud. “With Document AI and Gemini models, TurboTax can extract, categorize, and accurately populate data from the most complex tax forms, making filing more efficient, less error-prone, and ultimately, more accessible for everyone.” In tax year 2023, TurboTax successfully processed 44 million U.S. tax returns and $107 billion in U.S. tax refunds on Intuit’s platform using the company’s Generative AI Operating System (GenOS). GenOS combines the power of Intuit’s rich data, custom trained financial large language models (LLMs), and proprietary tax knowledge engine with an extensible catalog of best-in-class LLMs to deliver highly personalized done-for-you experiences.
- For example, once the IRS opens e-filing for tax year 2024 returns, you can only e-file 2024, 2023 and 2022 taxes.
- Already, Intuit’s near-decade of deep expertise in AI-driven document understanding with TurboTax enables broad support for tax document import, upload, and photo capture, and auto-fill of a majority of tax returns, minimizing manual data entry.
- If you have a simple tax return (typically a 1040 with W-2 income, standard deduction, and limited credits), you may be able to file completely free.
- For those seeking additional help, TurboTax Live connects users with tax experts for real-time assistance.
Tax season can feel overwhelming, but the right software can simplify the process. TurboTax is one of the most popular tax filing options, known for its user-friendly interface, step-by-step guidance and features designed to help filers maximize refunds while minimizing errors. Eventually, for more complex tax situations, you may need additional documents like mortgage statements or other detailed financial information. About Google CloudGoogle Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow.
You’ll also find tax-saving credits like the Earned Income Tax Credit (EITC), and Child Tax Credit. Free filing is also available for those filing jointly with a non-military spouse. This offer isn’t valid for warrant officers, commission officers, veterans, National Guard personnel, or retirees. Learn more about how to use TurboTax for free, when you might have to pay, and the specific fees turbo tax personal involved. Security Certification of the TurboTax Online application has been performed by C-Level Security.
- A local tax expert matched to your unique situation will find every dollar you deserve and get your taxes done right—as soon as today.
- While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
- Intuit is the global financial technology platform that powers prosperity for the people and communities we serve.
- Not every filer will benefit from these paid add-ons, so review your tax situation carefully before choosing a version.
A TurboTax product specialist can help you, and even draw on your screen to help you get your taxes done. “This tax season, we’re delivering on Intuit’s promise to millions of TurboTax customers to do the hard work for them—so they don’t have to,” said Intuit Chief Technology Officer Alex Balazs. Tax season is fast approaching, and choosing the best tax software is a key step in preparing to file your taxes. We reviewed several tax software providers, and TurboTax is one of our top picks, largely because of its easy-to-navigate website and generally easy-to-follow tax-preparation process.
Hand off your taxes to an expert matched to your unique needs, whether it’s side gigs, new home or anything in between. Your tax expert will do your taxes for you in as little as two hours — no waiting and wondering when your taxes will be done. “Whenever you receive a phone call, text message or email requesting personal information, you can never be sure who is actually contacting you,” Weisman said. One of the most popular of these is TurboTax, a service run by Intuit that provides tax support for over 100 million people each year.
Steve Weisman, cybersecurity expert and editor of the Scamicide newsletter, told Newsweek that scammers have developed ways of making phone calls appear as if they were coming from legitimate sources. Millions of Americans are at risk of being scammed at this time of year because of the tax deadline, creating demand for external help with finances. The scams are designed to prey on the urgency people feel, which could result in thousands of dollars being stolen from people who fall for the scams.