FreeTaxUSA vs TurboTax : Reviews And Comparison
FreeTaxUSA and TurboTax are the two giants of the tax preparation industry. But do you know which one is better? Let’s take a look at FreeTaxUSA vs TurboTax to know.
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FreeTaxUSA vs TurboTax
The online tax preparation website, FreeTaxUSA, allows people to Prepare, Print & E-file their taxes for free. TaxHawk, Inc. owns the company. It was started by a CPA and few professional software developers in 2001. FreeTaxUSA is a member of the IRS Free File Alliance and an authorized IRS e-file provider. The company has successfully filed thousands of federal tax returns with the IRS.
The company updates the software each year to include the changes made in the federal and state tax codes. Moreover, the updated software undergoes extensive testing and the approval process with the IRS followed by each state.
The Basic Edition is 100% free and gives users all the necessary tools to complete and file their tax returns. It provides their users an access to a lot of things, not just basic Form 1040. Moreover, FreeTaxUSA has many features that give it an edge over TurboTax.
However, the Deluxe version includes four upgraded features namely:
- Amended tax returns
- Priority Customer Support
- Live Chat
- Audit Assist
Amended Tax Returns: As a Deluxe user, you can make the necessary changes to tax file even after the submission.
Priority Customer Support: Even though the customer support is pretty basic, you can skip the “call-back” list and get a quicker reply to your query as a Deluxe user.
Live Chat: A Deluxe user can access the FreeTaxUSA’s Live Chat feature to talk to a professional and clear all of their doubts. This means they don’t have to wait for the call-back from the company.
Audit Assist: During the IRS audit, an Audit Assist specialist assists you to understand and steer through the audit process. This includes writing a reply to the IRS in case you receive an audit notice and help you understand your options along with the possible outcomes.
In the mid-1980s, Chipsoft developed TurboTax, before Intuit acquired Chipsoft in 1993. In 2016, TurboTax was listed one of the best online tax preparation software solutions. It stood against all its competitors like TaxSlayer, TaxAct, Jackson Hewitt and H&R Block to reach the pinnacle.
TurboTax is a feature-rich software hands-down. It offers an abundance of technical features, learning resources, certified professionals.
Other features include:
- Automatically importing data from your W-2 or 1099 by taking a picture of the form and uploading on Turbotax.
- Importing tax data from compatible mobile apps.
- Availability of web-based download to avoid the hassle of physically buying the package.
- The ExplainWhy feature that allows users to get on-the-spot explanations to better understand anything affecting their tax return.
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The Final Take
Both FreeTaxUSA and TurboTax are excellent tax preparation software. FreeTaxUSA offers simplistic and basic tax filing facilities which make it easy to file taxes. However, TurboTax offers surplus features and excellent customer support system ready to be explored. A person needs to use both of them to know which one suits them. You can even gain some tax rebate on your house mortgage. However, you need to know the Things New Home Buyers Need To Keep In Mind Before Going On A House Hunt! JPMorgan Chase Bank provides some exciting offers for house mortgage. You should know the JPMorgan Chase Bank Routing Number to make various transactions.