Here’s a look at where TurboTax excels and how much it costs to help you decide whether you might want to file with it in 2022. To get the best possible experience please use the latest version turbotax 2021 options of Chrome, Firefox, Safari, or Microsoft Edge to view this website. The Senate on Wednesday voted against advancing a bipartisan border policy and foreign aid bill after weeks of negotiations.

  1. If you have a more complex return, you will pay $59 to $64 to file each state tax return.
  2. Our calculations are 100% accurate so your taxes will be done right, guaranteed, or we’ll pay you any IRS penalties.
  3. I recently appealed my property tax assessment in a relatively easy appeals process in Maryland, saving me thousands of dollars in what amounted to just an hour or so of work.

Your tax expert will be able to see a read-only version of your tax return to assist them in addressing your questions. Your personal information (like SSN) will be masked so the expert can’t see it. We do our best to match you with the right expert based on the nature of your question.

Our US-based tax experts and independent Intuit TurboTax Verified Pros have extensive experience and training. They can handle all kinds of tax situations, from simple to complex and are always up-to-date on all the latest tax laws, from crypto to side gigs and new government credits. They’ll guarantee your taxes are done 100% right, with every dollar you deserve.When you connect live with an expert, you’ll see their specific credentials. Our team of US-based tax experts have extensive experience and internal training. They can handle all kinds of tax situations, from simple to complex; and are always up-to-date on all the latest tax laws, from crypto to side gigs and new government credits.

TurboTax Deluxe

But in the wake of the New York DFS investigation, ProPublica reporting and the 2020 Treasury Inspector survey, the IRS tightened its regulations and oversight of these companies. Ultimately, some companies left the Free File Alliance, including TurboTax and H&R Block. The costs of tax return preparation and other accounting fees rose 8.3% — steeper than the current 3.4% inflation rate — between November 2023 and the same month the year before, the latest federal data show. That category reflects the growing costs of using DIY tax software and of hiring an accountant. There also aren’t any physical locations like H&R Block and other similar services offer.

If you’re audited

We guarantee your taxes are done 100% right, getting you every dollar you deserve.When you connect live with an expert, you’ll see their specific credentials. This version of the tax software looks through your transactions for industry-specific deductions, including real estate, ride shares, delivery driving, online retail and personal or professional services. If your business has employees, this tax software allows you to prep and print unlimited W-2 and 1099 forms.

TurboTax netted its parent company, Intuit, over $4 billion in revenue in the 2023 fiscal year. At H&R Block, where assisted tax preparation drives most of its business, DIY products brought in over $300 million in revenue last fiscal year. Major tax software providers have slammed Direct File, which threatens to eat into their customer base, saying their offerings help filers maximize https://turbo-tax.org/ their refunds. For current, direct-from-Intuit pricing, visit our personal tax products, mobile tax products, or business tax products page. The time it takes to prepare your return depends on the complexity of your taxes, your availability, seasonal peak days for tax preparation, and how busy our experts are. Our goal is to get your taxes done with as little waiting as possible.

Both H&R Block and TurboTax offer free online filing services for simple returns. But itemized deductions and slightly more complicated tax situations often require paying for upgraded features. And as many tax filers are reminded each year, both companies’ “basic” software options cover only federal taxes, with state filings tacking on another $40 apiece.

Track My Refund: How to Check Your IRS Tax Refund Status

When financial situations aren’t simple anymore (like owning a home, having a child, or managing investments), we hope our customers will choose to pay to prepare and file their returns with TurboTax. In 2020, more than 195 million tax returns and other tax forms were filed electronically; 14 million of those tax returns were filed with a version of TurboTax. The tax software aims to simplify the tax filing process and find customers big tax breaks they otherwise would’t find on their own. If you are one of the many Americans considering TurboTax as a tool to help file taxes correctly and on time, there are a few things you need to know about filing your taxes via the software. Last year, more than 195 million tax returns and other tax forms were filed electronically; 14 million of those tax returns were filed with a version of TurboTax.

TurboTax cons

Lily Rose is a senior writer for CBS Essentials and the site’s expert in home appliances such as washers, dryers, refrigerators and ranges. When she’s not writing about how you can upgrade your laundry room, she’s writing about home and kitchen essentials that will transform your space. She firmly believes that it can make the crispiest sweet potato fries. Similarly, if you own your house and are renting a spare room to a friend or family member, this version will help you report the income and locate common deductions that can save you hundreds or even thousands of dollars. TurboTax contends it has “always been clear, fair, and transparent with its customers,” and said it doesn’t expect any significant impact to its business from the FTC’s move. “It’s frustrating, too, that this is something you have to go through a private company to do,” he added.

What customers are saying about TurboTax Free Edition

With this version, you will just hand your taxes over to a tax expert and they will file your return for you. This plan starts at $89 for federal returns for the simplest of returns and goes up from there depending on the complexity. The TurboTax versions available are based on how much assistance you’ll receive. The Do It Yourself version doesn’t come with any tax assistance, Live Assisted allows you to ask tax questions to a tax expert, and Full Service lets you hand off the entire task to a tax pro who will file on your behalf. TurboTax is one of the most trusted tax prep software available.

If you need to itemize your returns or attach any forms or schedules, you’ll need a higher level of service. TurboTax comes with several different levels of tax support. The most basic version is a guided walkthrough of filing your taxes. You can ask them questions along the way or have them prepare the full returns on your behalf. We offer free one-on-one audit guidance year-round from our experienced and knowledgeable tax staff.

She estimates she and her peers have raised prices by 7% to 12% to offset higher costs for labor and software. The biggest upside of TurboTax is that it can help you identify valuable deductions and maximize your refund. We may receive commissions from some links to products on this page.