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What Tax Software Do You Use?
r_jensen11 asks: "I know this topic has been asked at least once before, but seeing as how 6 years have passed, I figured the question is due again. It's about that time of the year again when we find out how much we owe Uncle Sam (or as in my case, how much Uncle Sam owes me). Software has changed drastically in the past 6 years, since the previous query I found on Slashdot, as well as many tax rules. Does anyone here use tax software other than TurboTax and TaxCut? I know that there are also online forms I can fill out, but which ones are accessible to people that use OSes other than Windows and Mac OS X? I'd preferably use a program that I can use off-line and store my information locally instead of using eforms, but if I have to resort to eforms, which ones should I investigate and which ones should I stay far away from?"
taxact.com
already done and efiled - no charge if you go directly to their site. DO NOT visit the IRS site first or you will pick up a cookie which will make them try to charge you for efiling if your AGI is above $52k regardless of how you actually enter the taxact site later.
If you are getting a large refund - look into talking to an accountant that can tell you how many deductions you REALLY need to be closer to break even. My goal is to hit somewhere between a 100 dollar refund to paying 500 dollars. I can afford 500 dollars, and I'd just assume be making the interest while the money sits in my bank account before giving it to the Man.
But PLEASE don't take my advise - talk to an accountant (IANAA) to find out what is correct for you
I have mod points and I am not afraid to use them
Over two thirds of tax payers can file online for free. The IRS runs Free File, which helps you to select a service to file through.
Most of these were browser and OS agnostic last year & a good choice for those with AGIs low enough.
TurboTax online
I think it's the same service (provided by Intuit), but other students or such like myself who have an AGI of $27,000 or less can go to taxfreedom.com and do their federal taxes online for free. The program this year is actually quite good from both a technical and interface point of view.
For state income, some states let you do free filing online via their own websites (like UT), but AL, AR, AZ, GA, ID, IA, KY, MA, MI, MN, MO, MS, MT, NY, ND, NC, OK, OR, RI, VT, and WV are all members of the Free File Alliance, and you can usually file taxes in these states for free online.
I'm a poor student, so my only goal is to get my refund back as fast as possible. Granted, my return is simple, but it took only 6 days last year from submission to direct deposit. In any case, I've found that there's no reason not to file online, especially if it's free.
"What do you despise? By this are you truly known." --Princess Irulan, Manual of Muad'Dib
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It's still pen and paper for me
Sure, but it's easier to get the forms with a browser and KPDF than it is to drive to the library. Also, it's easier to add the stuff up with gnumeric than it is to use a calculator. After that, the check's in the mail.
Of course, all of it's a stupid curse. Uncle Sam knows exactly what you made and has the resources to present it to you over the web. Taxes should be as easy as going to a web site and choosing between "I agree" and "I have something else to report" then doing it.
I'm going to continue to use paper as long as Uncle Sam does, mostly because the programs made to do taxes have proved themselves less than trustworthy.
Friends don't help friends install M$ junk.
That Uncle Sam returning that nice interest free loan you have given them by over witholding is "Giving you money back". Biggest fallacy in the book ...
The biggest fallacy in the book is that fiat currency has an intrinsic value. Look up Alan Greenspan's little essay on the gold standard, and realize that you are not free without a secure store of value. The withholdings are a time consuming but insignificant part of the bigger scam.
Friends don't help friends install M$ junk.
This is part of a negotiated settlement between the IRS and for-profit tax preparation companies during the Clinton years. It, after all, makes more sense for the IRS to offer free software for the public to encourage everyone to file electronically and standardize everything, etc. More efficent for the IRS, and therefore you. But that would hurt some big companies (I'm sure you can intuit whom I mean). Thus a deal was struck a while back, which as far as I know is not promoted/advertised by the tax-prep software companies.
The result is that people who make less than a certain amount (Adjusted Gross Income (AGI) of $52,000 or less) are entitled to free software by the "Free File Alliance, LLC" (ie, the tax software industry). During the Bush administration, the # of people who has qualified for this has gone down every year...
The government believes that private industry, given its established expertise and experience in the field of electronic tax preparation, has a proven track record in providing the best technology and services available. In addition, the government believes a partnership with private industry will: provide taxpayers with higher quality services by using the existing expertise of the private sector; maximize consumer choice; promote competition within the marketplace; and meet objectives in the least costly manner to taxpayers.
FYI.