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We all know that failure in filing tax return comes with unfavorable consequences. Aside from paying penalties, delayed reimbursements, and forfeiture of your tax refund, you might get arrested as well for failing to do such. To ease that pressure, Intuit has released a tax preparation software that will certainly give you the peace of mind, and will make filing your own taxes a less tedious task: The TurboTax Basic.
TurboTax works like an interview that will guide you along the way as you do your taxes. It will ask you questions critical to your tax situation such as your marital status, the number of your kids, or if you own a home. Answers to this questions will help TurboTax which deductions and credits to look for, and what to ask next. It is best fitted for individuals whenever they received their W-2s and 1099’s for their income, owned a home, made payments on cars used for work, earned bank interests, and had kids in school. It saves your information year to year so that you can file your tax return next year easier. Just review the information and only change what you have to, and you’re good to go.
Before you file, TurboTax run thousands of error checks as you go and double checks your return before you file to help make sure there are no mistakes. It also helps you to qualify for every tax break by searching over 350 tax deductions and credits, so you will get the maximum refund, with an explanation of why your unique tax situation was able to qualify. In addition to that, TurboTax is also updated with the latest tax and healthcare laws, and at the same time, find tax-saving credits for your children as well such as Child Care Credit, Earned Income Credit (EIC), and child tax credit. Live experts are also available through telephone calls to assist you in every situation that might find confusing, though a certain number of fees may apply.
So if you want to free yourself from that cumbersome process of filing your tax return every year, then TurboTax Basic might be the best option for you.