Anybody ever us Freefile? (funds, pay, taxes, charge)
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I was browsing the IRS website as I planned to efile this year and I came across something called Freefile. It appears that there are several companies that allow you to file online through them for free. Does anyone have any experience with this? If this exists, what would be the purpose of buying TurboTax (turbo tax is even one of the companies listed that allow you to do this for free)? I think your income has to be under 57k (which mine is) and I'm single with no kids I believe this would be a great alternative for me. I only have student loan interest and mortgage interest to deal with so I don't think this should be any problem. Anyone have any tips or advice for this? Out of all those companies listed, how can I decide who to file through?
I prefer not to prepare my taxes on a 3rd party website as you invite others in, aside from the IRS, to know everything there is to know about you. What happens if say, the company goes bankrupt? Do they destroy backup tapes, shred routine files, etc. You avoid this by preparing your taxes on your own computer, print them out, and mail them in. Since I usually have to pay some this isn't an issue for me.
That was a concern for me. However, I've only heard good things about TurboTax (and they have a freefile link there) but there are many others listed there that I had never heard of. If i do decide to do this I will definitely go with a name I feel I can trust but I was hoping to hear from someone who had used this service. I've gone over my form and I stand to have a refund although not very large so I would just like to get it as quickly as possible and without having to pay someone too much money to do something simple for me.
A friend at work has used the free online Turbo Tax for a few years. She says she's 'mathematically challenged' and has had no trouble with it, but her taxes are very simple. No mortgage, 3 kids, that's it.
It would make me very nervous to do my taxes online. I even offered my friend the use of my Turbo Tax at my house, but she wanted her refunds quickly. And she does get them very quickly.
I can't remember if Turbo Tax also offered free state tax filing ....
A friend at work has used the free online Turbo Tax for a few years. She says she's 'mathematically challenged' and has had no trouble with it, but her taxes are very simple. No mortgage, 3 kids, that's it.
It would make me very nervous to do my taxes online. I even offered my friend the use of my Turbo Tax at my house, but she wanted her refunds quickly. And she does get them very quickly.
I can't remember if Turbo Tax also offered free state tax filing ....
I'm in a similar situation, i.e., no kids, only one month of mortgage interest (just closed last Nov.), student loan interest and that's pretty much it. I've looked over the forms and it seems that mine will be pretty straight forward. I glanced over the Turbo Tax freefile and I do believe it has a tab for state taxes. I'll probably take the plunge later today and file so I'll let you guys know how it goes.
Just to update everyone. I used the Turbo Tax Freedom Edition to freefile last night. Process went very smoothly and I was done in less than 30 minutes. There are some income restrictions and such with being able to freefile but if you are eligible and feel comfortable with this I would recommend using it. It really does take you by the hand and lead you along making the whole process very simple. Again, because my tax situation is not complex at all I had no issues with this software. It even allowed me to efile my state taxes (although NC won't actually be able to accept the results until the 21st). The IRS already contacted me this morning indicating they had received my efile and so I should be looking at getting my refund at the end of the month. I actually ended up receiving more money than I had initially anticipated so I am very happy with the results of this program.
I have used the free file for multiple years using H&R Block (like Turbo Tax, a free file participant), and it can be pretty easy, if you have a simple return. However, they will charge you to efile your state return (it's how they make their money giving away their federal product). There are income restrictions, and you do have to have some knowledge of your finances/tax situations, but it is pretty straight-forward.
If you make over the income limit, there is still a free filing option with fillable forms. You have to do the work yourself (ie, put the right number on the right line), but the program will do simple addition/subtraction and free e-file.
As for security, these companies have better security over their data than people do over their home computers. Privacy data is not an issue, and the day it becomes one is the day that business goes bankrupt. You're more at risk dropping your tax return off at a mailbox than you are e-filing.
However, they will charge you to efile your state return (it's how they make their money giving away their federal product).
Actually the Turbo Tax version that I used did not charge for e-filing state taxes either. Not all states are available but I'm in NC and it is one of the state's that for whatever reason qualifies to efile for free. As you mentioned tho some of the programs will charge (I think this would have been $14.95 had NC not been on their approved state list).The problem that I ran into was NC will not accept efiles until Jan. 21st. However the software allows you to save and print your returns so I have the option of mailing in my state or waiting until the 21st and then logging back in to efile my state taxes. All in all I'd say I was very please and impressed with this software.
I'm trying TurboTax for the first time this year. I live in one state (SC) and work in another (NC), but I don't think that will be a problem. I'll have to file in both or something..
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