www.TurboTax.com with release date and tax estimator for freeSoftware
Www.turbotax.com is a leading and highly rated provider of tax
preparation software. With a wide range of options from the basic 1040EZ
to the complicated returns associated with partnerships and
corporations TurboTax highlights the evolution in the process of filing
income taxes. As little as a decade ago most taxpayers wouldn’t consider filing their
tax returns without professional assistance fearing overlooked
deductions and future audit. Even single individuals with relatively few
deductions would employ an accountant to prepare and file their
mysterious IRS forms. Accountants earned their fees by transposing
information onto the appropriate preprinted form, performing the basic
calculations and sending the end product along to the IRS. As computers
became increasingly prevalent in the workplace large accounting firms
such as HR Block developed software to perform tax calculations based on
data entered and print out the completed tax forms.
With the proliferation of home computers software programs were developed for the public and computer generated forms began outpacing preprinted IRS forms. The IRS responded by offering the option of electronically filing tax returns in lieu of printed and mailed returns. This eliminated the need for IRS employees to enter data from a taxpayers return into their computer. To increase use of electronic filing the IRS partnered with several tax software companies to offer free tax preparation and electronic filing. As an added incentive taxpayers who e-file can have their refund deposited directly into their bank account, eliminating the need for a paper check, and have the money in 10 days or less. The IRS reports the number of individuals and business electronically filing their tax returns is rapidly increasing. TurboTax reports that 100 million taxpayers have used their software to file their returns and record growth is expected again this tax season.
Turbotax.com offers step-by-step directions for each filer and easy access to ancillary forms such as Schedule C, IRA contributions and Earned Income worksheets. Tax experts are available through live chat for any problems that may be encountered. The TurboTax site features tax calculators, how-to videos and changes in tax laws. Turbotax.com goes one step farther by guaranteeing the largest refund. Unlike accountants of yesteryear the TurboTax software analyzes personal data and searches over 350 possible deductions for any you may have missed, offering an opportunity to correct your entry to claim the deduction. Additionally, turbotax.com checks the return for inconsistencies that may prompt an audit prior to filing, again offering an opportunity to correct the information.