Best free tax software in 2022
Everyone knows that all tax-related matters can not be solved quickly and often take several days or even weeks per year to sort out. That’s why some handy tax preparation software can be a salvation to prepare federal or state tax returns, to know better the United States tax laws, getting help from a tax expert, and preparing everything properly. Read this article to discover the best tax filing software.
Credit Karma Tax
Perfect for basic tax returns
Credit Karma Free Tax provides you with everything you need to file a basic tax return and some standard forms, such as W-2 or 1099-INT. It’s the online tax software, so the program doesn’t need to be downloaded and installed. For more complex situations, such as multi-state filing, mortgage interest, investment trading, or self-employment income you’d better choose the TurboTax Deluxe program mentioned below.
The best for complicated federal and state tax returns
TurboTax Deluxe is one of the best software on the market to file taxes and simplify your life a lot. It is known for its guidance for homeowners that can calculate your mortgage interest, property taxes and more, help you find a convenient tax deduction depending on your situation, check your federal and state tax returns before filing them and much more. If your adjusted gross income (AGI) is $72,000 or under, you can access most of these features for free with the government-sponsored IRS Free File Program. Otherwise, the TurboTax Deluxe will cost you $70. For simple tax returns, you can use TurboTax Free Edition.
H&R Block Free
Ideal for simple tax returns
H&R Block Free software is designed for slightly less complicated tax situations. With it, you can file income from wages (W-2), income from bank interest (1099-INT), dividends (1099-DIV), and student loan interest (1098-E) forms, for example. If you ever get lost filing your taxes, you can get online help from a live tax professional. The program is free of charge, however, the online tax consultation with an expert costs $39.99. If you need to file a more complicated tax form or get a tax refund, you can upgrade the free version to H&R Block Deluxe: the federal tax file will cost you $49.99 and the state form – $44.99.
For experienced filers
This tax software can be suitable for confident users who already managed to do their tax preparation and file federal tax returns. It includes all basic tax forms for itemizing, investments, rental income, and self-employment returns but doesn’t provide as much support as other tax software. However, if you encounter any questions and difficulties, you can always schedule a consultation through the built-in service Ask a Tax Pro who can help you through phone or email. The pricing of TaxSlayer starts from only $17 depending on your situation.
The best for self-employed, freelancers and small business owners
TaxAct is a helpful tax assistant that includes most of the federal and state tax forms and most importantly, the self-employment package with which you can look for tax breaks and deductions specific to your work. It also offers all-year support and your resources planning. It has the screen-share option in which tax experts can help you file your tax returns by seeing your screen: it facilitates and accelerates the process greatly. The package pricing starts from $54.95.
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