Doing your taxes online?

[Tex]

I'm sure most of you are aware of TurboTax and H&R Block online services but you may not have heard of TaxAct.com. It's an online based tax preparation service that is absolutely free for your federal tax return with free e-file. Since you probably have to file for OK state taxes you only have to pay $16.95 for federal and state with free e-file included. I just did mine tonight after I got my W2 in the mail. It probably took about 45 minutes and is very user friendly. I paid over $100 to H&R Block last year and I had to do more work than I did this year. Has anyone else used this service yet? I think it's awesome.

[DVDFreaker]

I'm sure most of you are aware of TurboTax and H&R Block online services but you may not have heard of TaxAct.com. It's an online based tax preparation service that is absolutely free for your federal tax return with free e-file. Since you probably have to file for OK state taxes you only have to pay $16.95 for federal and state with free e-file included. I just did mine tonight after I got my W2 in the mail. It probably took about 45 minutes and is very user friendly. I paid over $100 to H&R Block last year and I had to do more work than I did this year. Has anyone else used this service yet? I think it's awesome.

I rather do the old fashion way for free

[Karried]

I haven't used this service but I do all of our payroll taxes online... Employer's withholding... EFTPS and OK State Payroll taxes for free.

In making a decision in how to file, I think it depends on how complex your returns are and how many deductions you might have, whether it be online or using an accountant.

I sort of like the idea of a tax preparer/CPA going to bat against the IRS for me should the occasion ever arise (ie a clerical error) .. but I have to say, I'm not real worried about that as I'm a stickler when it comes to paying taxes, but still, this way, even though a bit more expensive is worth it and is more comfortable for me.

[kmf563]

aaaggghhh!! Karrie it's that time again for you isn't it! wow, this year went fast.

I file online, I use H&Rblock simply because I know if I get audited they will take care of it. Plus it's free for federal and only $29.50 to file state. You get to deduct that as a tax prep fee also. It is completely worth it to me to pay the small fee and not have to worry about being audited and also to have the return in my bank account usually within about 7 days as compared to the weeks it takes when you file the old fashioned way. BUT, I don't have a lot of itemizations either.

How is Taxact as far as assistance with questions and and more information while you are walking throught the filing process? And do they also give the audit guarantee?

[Karried]

LOL, yeah sure for you, it's a piece of cake (this girl knows her stuff regarding accounting!)

I'm numerically challenged.

[Midtowner]

I use an expensive CPA. I'm thinking about doing my own taxes (the old fashioned way) this year. Doing so might help me in my tax law class.

[bandnerd]

Oh my god.

[Patrick]

lol bandnerd!

I'm with kmf563....I would do them myself, but I like having someone available to represent me in case I get audited. I also use H&R block.....most would probably say using a tax preparer is a waste of money, but for me it's just ease of mind.

[Midtowner]

Oh my god.

mwahahaha..

[Intrepid]

I've used TaxAct.com for the past 3 years and you can't beat $16.95 for electronic filing of both federal and state. Their web site is extremely easy to follow and even allows to pick up where you left off should you need to log off before completing everything.

I highly recommend it.

[Midtowner]

I've used TaxAct.com for the past 3 years and you can't beat $16.95 for electronic filing of both federal and state. Their web site is extremely easy to follow and even allows to pick up where you left off should you need to log off before completing everything.

I highly recommend it.

What's their privacy policy like?

[Intrepid]

What's their privacy policy like?

TaxACT Privacy Policy Statement

[Oh GAWD the Smell!]

For those of you thinking that H&R Block will "go to bat" for you in case of an error, think again.

My mother used them a couple of years ago, and got audited. Turns out H&R Block screwed it up. It was a pretty obvious error too, according to my accountant (I showed her the stuff after my mom got her audit notice).

H&R Block's "guarantee" consisted of refunding my mother the money she had spent on preparation. That's it. No help with the IRS, no help with the $2,000 she had to come up with to give the IRS. They gave her $150 or so back to her, and washed their hands of the matter. When she took her package down there along with the audit paperwork, they wouldn't even talk to her about it.

[Lauri101]

For those of you thinking that H&R Block will "go to bat" for you in case of an error, think again.

My mother used them a couple of years ago, and got audited. Turns out H&R Block screwed it up. It was a pretty obvious error too, according to my accountant (I showed her the stuff after my mom got her audit notice).

H&R Block's "guarantee" consisted of refunding my mother the money she had spent on preparation. That's it. No help with the IRS, no help with the $2,000 she had to come up with to give the IRS. They gave her $150 or so back to her, and washed their hands of the matter. When she took her package down there along with the audit paperwork, they wouldn't even talk to her about it.

You are exactly, 100% spot-on!

Folks - I AM an IRS Revenue Agent. Your chances of seeing one of my co-workers is exponentially higher if you are a small-businessperson with your taxes prepared by one of the McTax places - be it H&RB, J-H, etc.

Now, if you are a W-2 wage earner and feel more comfortable with one of these services, you probably won't have much problem - unless you have a complicated return with a Sch. D, Sch E, etc. Personally, I recommend a good, computer based program such as TaxCut, Turbo, or a free-file service, over going to McTax. If you are a Schedule C, sole-proprietor or sub-S, for heaven's sake - spring for a CPA!

As OGTS said, you get zero support from H&R or J-H. Most of the audits of their taxpayers are due to lack of due diligence on the part of the preparer, or flat-out math errors.

[Karried]

If you are a Schedule C, sole-proprietor or sub-S, for heaven's sake - spring for a CPA!

For me that's a no brainer since I wouldn't even begin to pretend to know what goes where on what line!

But, it really is important .. our CPA is such a stickler, he wants model numbers, serial numbers for equipment, detailed receipts etc etc.. and although it's a pain, he will and does go to bat for his clients ... for me, peace of mind like that, is priceless.

[Oh GAWD the Smell!]

Sad part is, my mom IS a regular ol' W2 wage earner. They borked up something with the sale of her house. Which she lost money on too, BTW. Talk about getting kicked while you're down.

I'm waiting for her to get audited again because she couldn't afford to pay them, yet somehow managed to come up with the money.

[CCOKC]

I am a CPA and wasn't going to say anything negative about the box places but since the IRS Revenue Agent brought it up first.... I ask you guys if you need professional help try a CPA. We usually charge less believe it or not and you get much more service. If you get so much as an IRS notice, we try to take care of your problem for you. I also like to think that we develop a relationship with our clients that I don't think you get with the box places. We are also required to perform continuing education each year to keep our permits to practice. And we are open all year long regular business hours so if you get a notice in October we'll be around.

[Lauri101]

I am a CPA and wasn't going to say anything negative about the box places but since the IRS Revenue Agent brought it up first.... I ask you guys if you need professional help try a CPA. We usually charge less believe it or not and you get much more service. If you get so much as an IRS notice, we try to take care of your problem for you. I also like to think that we develop a relationship with our clients that I don't think you get with the box places. We are also required to perform continuing education each year to keep our permits to practice. And we are open all year long regular business hours so if you get a notice in October we'll be around.

And I even have a name!

CCOKC - as you well know, we can't recommend a specific tax preparer "officially", however, the McTax businesses will literally set an agent's teeth on edge. I was actually told, in a long-ago RA101 class, that if a prepared return received for audit was prepared by a box place, adjustments were highly likely. And, in the long run, you are correct - a CPA will be less expensive.

I don't do audits anymore, but I was able to develop some good professional relationships with many OKC CPAs and enrolled agents over the years I did. You guys are well worth your fees!

Lauri

[Tex]

I'm liking all the discussion on this topic. I do agree with those that would rather pay a CPA to file their tax return who have complicated tax situations and deductions. But my tax situation is rather vanilla and for me it was easy to follow the step by step instructions on taxact.com. I prepared my tax return last night on taxact and I just received an email that my e-file was accepted by the IRS and I should expect my refund to be directly deposited in my account on Feb. 8th.

[MadMonk]

I've been using TaxCut for the last couple of years, and TurboTax for years before that. My taxes are pretty straightforward so it's a perfect fit for these software packages. I'll have to check out TaxAct. It's a pretty good price and that includes state taxes as well.

Feb 8th?! That's pretty quick. I'm still waiting on my W2!

[dalelakin]

I use Turbo and have for the last 4 years but I am going to look into some of the others next year considering the fees this year were about $90 for state and federal. On a positive note I filed on Sunday and to my suprise the state refund was deposited LAST NIGHT.

[CuatrodeMayo]

My taxes are pretty simple and I have been using TurboTax free file. I highly recommend.

[kmf563]

I've been doing my own taxes since I turned 18. I do them the old paperstyle way. Last year it took almost 3 months to get my return. I filed on Friday night this year and got my state refund yesterday. My federal return is due Feb. 8th

I'm not worried about mistakes with H & R block as much as I thought it was worth the small fee for state to get my return back quickly this year. If I had a million deductions and exemptions I would most definitely take it to a private tax pro just because of all the work that is involved!

[6string79]

I've used taxslayer.com for the last 3 years and it rocks. Easy to use and only about $9 to file both FEDERAL and STATE. You get the refund in 1 to 2 weeks. Beats the $16.95 or whatever else everyone is paying for online servcies. =)