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If you’ve requested a tax extension and still need to complete your tax filing, choosing the right software is crucial for a smooth process. Using user-friendly and comprehensive tax software not only simplifies the task but also helps you get the maximum refunds you’re entitled to. Leveraging technology is a smart way to make tax responsibilities easier.

Tax filing can be complicated with many factors to consider. The best tax software is a helpful tool that reduces guesswork and uncertainty during tax preparation. With the right software, you can approach your taxes confidently, ensuring you’re maximizing available resources and deductions.

TurboTax

• Embrace the Freedom: Free option? Absolutely.
• Expert Insight at Your Fingertips: Yes, we’ve got you covered.
• Affordability Meets Complexity: Ideal for those intricate tax returns.

Pricing Breakdown:

1. Free Plan: Pay nothing for federal, and zero for state.
2. Deluxe Delights: Upgrade for $69 federal, $59 state.
3. Premium (formerly Self-Employed): Dive in for $129 self-employed, $59 state.
4. Live Assisted Experience: Choose from $99 to $219, plus $54 or $64 for state.
5. Full Service Excellence: All-inclusive from $219 to $409, plus $54 or $64 for state.

TurboTax is a dependable tax preparation solution, though it’s not the most affordable choice available. Its pricing is justified by the value it provides, especially if your tax situation is complex, like being self-employed. The free TurboTax edition offers an “Audit Support Guarantee” for those with simple tax returns using form 1040.

In response to pandemic challenges, TurboTax’s free edition now supports earned income tax credits and child tax credits, making it more inclusive. Deluxe and Premier editions meticulously match your personal details with various deductions to maximize your savings.

TurboTax Premium is great for those with rental property income, allowing you to report it and find industry-specific deductions. For extra help, TurboTax Live Assisted offers unlimited live tax advice for an additional fee. This option ensures a thorough review of your return to avoid missing any credits or deductions.

TurboTax also provides a Full Service option, where a tax professional manages your entire tax filing process. This is a hassle-free choice for those who prefer experts handling their taxes. While TurboTax isn’t the cheapest option, its features and choices offer significant value tailored to your specific tax needs.

TaxAct

• Embrace the Freedom: Free option? You bet.
• Unlock Potential: Paid add-ons? Absolutely.
• Expert Help on Standby: Yes, whenever you need it.
• Saving for the Self-Employed: Your budget-friendly solution.

Pricing Alchemy:

1. Free Plan: $0 for federal, just $39.95 to file state. Tax pro assistance? It’s on the house.
2. Deluxe Delights: $50.95 federal and $54.95 per state. Tax pro help? No extra charge.
3. Premier Perfection: $74.95 federal and $54.95 per state. Tax pro assistance? Included.
4. Self-Employed Success: $99.95 federal and $54.95 per state. Tax pro guidance? Complimentary.

TaxAct may not be as well-known as some of its competitors, but it offers a cost-effective solution with similar features. The free edition covers federal returns and makes it easy to import previous tax data from other software like TurboTax.

It’s important to note that TaxAct doesn’t include free state returns in its online products, but the Deluxe, Premier, and Self-Employed downloadable versions do provide a free state return, which can be valuable for many users. Like its competitors, TaxAct’s free version supports earned income tax credits, child tax credits, and recovery rebate credits. It also added support for unemployment income in response to the American Rescue Plan in March 2021.

In terms of functionality, TaxAct is impressive, offering a comprehensive set of tools and options that meet industry standards. It also has various calculators and planning tools to help you address potential tax changes, making it a reliable and affordable choice for those looking for a tax solution.

Cash App Taxes

• Free Your Taxes: Yes, you read it right.
• Enhanced Experience: Paid add-ons available.
• DIY Spirit: Expert help is not in the picture.
• Free on Your Phone: The perfect fit for smartphone tax warriors.

Pricing Revolution:

Mobile Marvel: $0 to prepare and file federal and state.

Cash App Taxes is a rising star in the world of tax software, known for its free federal and state tax filing services. It’s unique because it can handle even the most complicated IRS forms and schedules. Whether you have a simple W-2 form or a complex tax situation, Cash App makes it easy. You can use your smartphone to take a picture of your W-2, and the app will fill in the necessary information for your return. Additionally, Cash App offers extra features like peer-to-peer payments, micro-investing, and cryptocurrency trading.

What makes Cash App Taxes special is its flexibility. You can bring in tax returns from previous years completed with other software, making the transition smooth. The app also has a guarantee: if you find a larger refund with a competitor, they’ll give you up to $100 in gift cards. Plus, it provides useful assistance, including free consultation, document review, and support in case of an audit.

However, there are limitations to Cash App Taxes. It doesn’t offer a professional tax review, which could be a downside for those with complex tax situations that need expert guidance. In such cases, you might want to consider one of the paid options available in the market.

TaxSlayer

• Freedom Awaits: Yes, there’s a free option.
• Unlock More Power: Paid add-ons? Absolutely.
• Expert Assistance: We’re here to support you.
• Thrifty Filers: Ideal for those earning under $73,000 annually.

Price Points:

• Simply Free: $0 to prepare and file federal and state.
• Classic Choice: $34.95 federal + $39.95 state.
• Premium Experience: $54.95 federal + $39.95 state; tax pro help included.
• Self-Employed Success: $64.95 federal + $39.95 state; tax pro assistance included.

TaxSlayer is a cost-effective tax software choice that’s part of the Free File Alliance in partnership with the IRS. It’s available for most Americans earning under $73,000 yearly. For eligible users, it offers a comprehensive package, including free federal and state returns, along with unlimited phone and email support for all tax-related matters.

The free version of TaxSlayer suits basic tax situations, like filing Form 1040 and claiming student loan interest deductions and education credits. If you’re switching from another tax service, you can easily upload your previous year’s return. TaxSlayer’s Classic version covers all IRS forms, deductions, and credits, plus it provides audit support for a year after filing.

For those who need extra help, TaxSlayer’s Premium version offers tax pro support through phone or email, ensuring your queries are quickly resolved. It also offers priority assistance for technical problems, delivering a comprehensive experience.

Self-employed individuals can use TaxSlayer’s Self-employed version to handle personal and business tax returns. This version supports forms like 1099s and Schedule C, crucial for self-employed professionals, and includes tax pro support. TaxSlayer offers a range of options to meet the diverse needs of taxpayers, combining affordability, support, and flexibility.

Jackson Hewitt

• Free-Free Zone: No free option here.
• Enhanced Options: You can add extra services.
• Pro Support: Expert assistance is at your fingertips.
• Transparent All the Way: We keep it simple, no hidden fees.

Clear-Cut Pricing:

• Basic Bliss: $25 for preparing and filing federal and state.
• Pro Perfection: If you prefer expert assistance, request a quote.

Jackson Hewitt is unique in not offering a free filing option. However, this doesn’t mean it’s more expensive for users. In fact, Jackson Hewitt’s pricing is designed to be affordable for various tax situations. For just $25, you can file both federal and state taxes, including all forms, credits, and deductions.

Jackson Hewitt offers a maximum refund guarantee, promising to refund your fee and provide an additional $100 if you find a bigger refund elsewhere. This gives you extra confidence.

Additionally, when you choose Jackson Hewitt, you lock in the $25 price for the next two tax years, even if the retail price increases. This ensures price stability.

While Jackson Hewitt’s DIY service doesn’t provide direct access to tax professionals, you can opt for expert help by uploading your documents and communicating through a secure message platform. It’s a convenient and personalized process after creating an account and answering a few tax-related questions.

Online vs downloaded tax software

When choosing tax software, you can opt for either online or downloadable versions offered by most providers mentioned earlier. Both options have similar features for efficient tax management. However, downloadable versions are typically a bit more expensive because they often include multiple federal e-files, usually around five, and sometimes even a state return in the package.

These e-files are meant for one tax year but can be used by multiple people in your household. So, if you have multiple federal returns to file within your family or household, investing in the downloadable version can be a cost-effective choice. On the other hand, if you’re an individual taxpayer with only one return to file, the more budget-friendly online option is probably your best choice for a hassle-free tax filing experience. Your decision should be based on your specific needs and circumstances.

How to save money on tax software

Saving money through tax preparation efficiency is crucial. Many tax software providers offer lower rates for early birds, which can cut your costs. Filing your taxes well before the deadline reduces stress and helps you maximize your return. Act early to make the most of these money-saving chances, as tax software prices tend to increase as the tax season goes on.

Methodology of writing Article

At Financial Gaze, our product rankings are carefully determined by our dedicated editorial team, who focus on important factors and features that matter to everyday users. We are committed to maintaining high editorial standards to ensure that our readers can trust our recommendations and make informed choices. It’s important to note that while we independently select the products and companies featured in our articles, some of them may have sponsorship ties.

We rate products and services on a scale from 1 to 5 stars, with 5 stars being the highest rating. We round our ratings to the nearest 0.5 star for accuracy. Our rating system is based on user-centric factors, including price, the availability of free options, filing choices, features, expert help, customer support quality, in-person support, and ease of use.

To make sure our evaluations meet the diverse needs of our users, we collect data from providers’ websites, use their services, and closely examine demonstrations as needed. We analyze this data thoroughly to create a comprehensive star rating. The weight of each factor varies depending on the product’s category to ensure our final assessment aligns with user expectations.

Our ultimate mission at Financial Gaze is to provide unbiased reviews that empower our readers with the knowledge they need to choose the best service for their specific needs