Income tax time is just around the corner. Those W-2s will be hitting the mailboxes (hopefully) in the next few weeks so that everyone can find out whether they need to write a check or do a cartwheel. The sooner income taxes get done the better, so online filing has become very popular over the years.The following is a list of the best websites for individuals who like to do their income taxes themselves:
Taxact.com- Taxact.com is one of the best on-line tax services because it is free! Nothing beats having your taxes prepared, printed, and filed for free. That’s e-filing as well. E-filing is free, and they claim to have the tax payer’s refund available in eight days. There is also a nifty little video tutorial on site that offers TaxACT program support and step by step instructions on how to use the service. Tax professionals are also available via e-mail to answer any tax questions free of cost. The charges start when you get to your state return. State return prices start at $8 and go up from there. Still, it is a very good site to utilize for the Federal return.
Taxbrain.com- Taxbrain.com is a little more expensive but still not as bad as some of your bigger name tax sites. Federal taxes can be done for as little as $14.95, depending on whether you are eligible to use the 1040ez form. The more complex your situation is (children, assets, pensions, etc.), the more expensive the return could be, with the highest being $69.95. State taxes can be added for $29.95.
The great thing about Taxbrain.com is that they work with a bank to offer a rapid refund to anyone who qualifies. The refund can be loaned to you by the bank until your money comes from the I.R.S. The costs associated with processing your income taxes could be set up to be deducted from the refund. So if you are due money back this year, you might be able to have your taxes filed “on credit” until the money comes in.
Taxbrain is very easy to use for first-time self-tax filers. There are instructions and hint boxes every step of the way. Taxbrain also offers tax help via on-line chat and a100% accuracy guarantee.
Turbotax.com- Turbotax.com is very similar to Tax Brain, except in price. Turbo Tax does offer a free “simple” refund, but the more complex returns start at $29.95 and go up to $129.95. It is not quite clear what the hefty price is for. Perhaps their superior software. Nevertheless, they are a reputable website to do income taxes on.