Some users of TurboTax Deluxe software were recently offered an apology, along with a $25 refund. This action comes as as a result of a software mistake made by Intuit on their 2013 edition of TurboTax Deluxe.
Intuit freely admits their mistake and has taken these actions in order to make right with their customers and help gain their reputation back. However, some customers are not happy due to the fact that the TurboTax Deluxe 2014 edition sold for the same price as the 2013 edition, even though the newer edition will no longer be able to help customers who need to electronically file a Schedule C, D, E, or F. This means any tax filer who had capital gains or losses, had rental income, receive partnership royalties and distributions, had farm income, or needs to file a profit and loss statement will need to upgrade from the Deluxe package to the Premier package, or the even pricier home and Business TurboTax edition.
Up until recently, some customers who called to complain were able to get a free upgrade, or a $25 credit once their return was filed.
TaxACT Logo (Photo credit: Wikipedia)
TurboTax is one of the most frequently used tax software programs, with 28 million filers, while H&R Block and TaxAct each had about 7 million users filing with their tax software. In fact, H&R Block has offered former TurboTax customers a free download of their deluxe program plus state. They have not disclosed numbers yet, but have reported an “overwhelming response” to their free offer. TaxAct has not followed in their foot steps.
Only time will tell how many customers will stay loyal to TurboTax 2015 and how many will make the switch to a different, possibly more budget friendly tax software program.
TaxAct is one of the leading software’s for preparing and filling tax returns and it has just released the 2014 software for 1040, 1065, 1120s, 1120 and 1041 tax returns. So starting from January small business owners are able to complete their federal and state returns and e-file them after the program has been updated with the final IRS forms and any charges that are updated at the last minute. The software is also updated with the latest federal law tax changes to enable even small business owners to view their 2014 taxes, identify how they can save and advise on 2015 budgeting.
The program asks simple questions about your income, losses, expenses, deductions, and credits and uses this information to calculate, check for errors and completes the tax forms.This will help everyone including self employed individuals to minimize tax liability before the years ends.
Using this software you can save hundreds of dollars that you would use to prepare and plan for tax returns. It takes only $49.99 to prepare, print and e-file a 1065, 1120S or 1120 federal tax returns and only $19.99 for each state return.
It does not end there, TaxAct offers free personal technical help with your taxes including unlimited phone help when required. This software includes a money back guarantee after thirty days and you do not have to pay for the online version until you file previewed completed tax forms.
Turbo tax was the best rated and top selling tax software last year probably due to its clean streamlined presentation and step by step interview. It is great for both the first time users or those who do this year after year. Theses people are so confident about their product that they offer a big refund if you use another tax preparation method and get a bigger refund. Another little helpful feature is as you take each step the sidebar shows how much you owe and how much you are entitled to in refunds. And you can do all this from your iPad using the fully featured iPad app.
The software allows you to import tax information from other softwares like TaxAct from the previous year. In case of an audit the company offers free support from the Audit Support Centre with instructions on what to do in case the IRS come for you.
The website uses questions to determine the best package for you. They range from the free edition to the business for $149.99.
There are a number of tax e-filers out there so choose one that is easy to use and will help you to understand the more difficult areas such as deduction and corporate elements. E-filing will reduce the stress and time it takes to file your tax returns.