For many Americans, the annual tax refund is the biggest paycheck of the year. TurboTax is giving you the chance to take advantage of free Federal and state tax filing services for the seventh year in a row. So, how much does TurboTax cost?
For taxpayers with simple tax returns. TurboTax Free Edition enables millions of Americans to file their tax returns completely free of charge. This applies to ordinary W-2 taxpayers, anyone filing Form 1040 and their variations with no schedules, as well as limited income from interest and dividends reported through 1099-DIV and 1099-INT.
Anyone claiming a standard deduction and tax credits like the earned income and child tax credit income limit, as well as unemployment income, is also eligible to take advantage of these free services.
So, what do you get access to when using TurboTax Free Edition?
Free Data Transfer
Customers who are filing their taxes with TurboTax again can easily import last year’s information for free. New customers may import a PDF of last year’s tax return. This completely eliminates data entry, so you already have a 50% head start on everyone else.
Free 24/7 Support
Taxpayers can get their tax questions answered 24/7 by contacting the TurboTax Tax Experts and the community. Ask your personalized questions and receive tailormade answers.
Snap and Autofill on Your W-2
Save time and energy if you are an ordinary employee by having your W-2 imported directly from your payroll provider. Alternatively, take a photo of your W-2 and the data will be verified and pulled directly from the image onto your tax form.
TurboTax’s importation process supports millions of employers across the nation already.
Upload Basic Information with a Barcode Scan
Take your driver’s license and simply scan the barcode. Your basic personal information will be uploaded in a matter of seconds, thus giving you yet another head start.
Get a Personalized Experience
TurboTax utilizes the TurboTax Tax Knowledge Engine, powered by machine learning and artificial intelligence, to guide taxpayers through the process of filing their taxes. This is a streamlined tax preparation option that guarantees less work for you.
Follow the Step-by-Step Guide for Claiming Tax Credits
According to the earned income credit table, the EIC is worth up to $6,660 per year for families with three kids. The child tax credit can be worth up to $2,000 for eligible children. TurboTax gives you a step-by-step guide for determining your eligibility and claiming any credits you are eligible for.
TurboTax Protects You During an Audit
An IRS audit is extremely unlikely, as less than 1% of taxpayers are audited per year, but if it does happen TurboTax has you covered. In the unlikely event you are selected for an IRS audit, you can take advantage of free audit guidance from one of TurboTax’s tax experts.
If you want to upgrade beyond the TurboTax Free Edition, you can do so at the click of a button just by visiting TurboTax.com.
Filing with TurboTax is easy. You do not need to be aware of the current tax laws or how they work. The platform itself guides you through the entire process by asking you a selection of simple questions. You will never need to do anything else.