Intuit, the parent company of TurboTax, announced that it would no longer participate in the IRS's Free File program in July. In the past, TurboTax would offer free e-file services and was featured on the IRS website. However, even though they are not participating in the IRS's Free File program, they do have a free file option on its website, but there are limitations on who can use the free service. According to Intuit,
“This decision will allow us to focus on further innovating in ways not allowable under the current Free File guidelines and to better serve the complete financial health of all Americans through all of our products and services, in tax preparation and beyond."
TurboTax’s free service is only available to those who are filing a simple tax return. There are two options, one that allows customers access to an expert to get questions answered, the filing deadline for this service is March 31. The other option (full service) puts customers in touch with a professional who will prepare their taxes, the filing deadline for that service is February 15th.
Who can use TurboTax’s free services?
Turbo Tax said a simple tax return uses form 1040 and covers:
- W-2 income
- Limited interest and dividend income reported on a 1099-INT or 1099-DIV
- Claiming the standard deduction
- Earned Income Tax Credit (EIC)
- Child tax credits
- Student loan Interest deductions
Who can’t use their free service?
Customers who have:
- Itemized deductions (like mortgage or property deductions)
- Unemployment income reported on a 1099-G
- Business or 1099-NEC income
- Stock sales
- Income from rental property
- Credits, deductions and income reported on schedules 1-3
- Charitable donations
- Education expenses
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