A Quick Overview of TurboTax
Since the mid-1980s, TurboTax has been around. Its appeal stems in part from the fact that it is owned by Intuit. Intuit also produces Quickbooks accounting software, which is used by millions of businesses. TurboTax is also popular because of its user-friendly interface and clear step-by-step instructions.
TurboTax, like H&R Block, offers a free filing option that allows you to file your federal return as well as one state form. The free option, on the other hand, is limited to simple 1040 returns. You’ll need to upgrade to a premium plan if you wish to itemize your deductions with Schedule A or if you need to use any other forms.
Intuit’s TurboTax is a software package for preparing tax returns in the United States. TurboTax, which competes with H&R Block Tax Software and TaxAct, is the market leader in its product segment. [1] Michael A. Chipman of Chipsoft created TurboTax in 1984, and it was sold to Intuit in 1993.
The creator of TurboTax, Intuit, has spent a lot of time lobbying against the Internal Revenue Service (IRS) building its own online tax filing system, similar to those used in most other wealthy countries.
TurboTax allows individuals making less than $39,000 per year to use a free version of TurboTax as part of an agreement with the IRS Free File program; however, a 2019 ProPublica investigation revealed that TurboTax deliberately makes this version difficult to find, even through search engines, and that it deceptively steers individuals who search for the free version to TurboTax versions that cost money to use.
TurboTax has duped military service members into paying for filing software by developing and pushing a “military discount” and making the free version difficult to find, despite the fact that many service members are eligible to use it for free.
Free e-filing and more
TurboTax Self-Employed1, the online tax solution for independent contractors, freelancers, and small company owners like you, lets you file your state and federal taxes for free. Rideshare-specific deductions are discovered by TurboTax Self-Employed, allowing you to keep more of the money you make. ²
TurboTax Live is 50% off.
Do you need a little extra help with your taxes this year? This tax season, pay less than $100 for unlimited, year-round tax assistance and support. You may talk live, on-demand with a CPA or EA tax expert at any time with TurboTax Live. Also, before you submit, have a last review of your tax return.
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