As the season of tax return is already upon us most Americans are looking for ways to get more refunds from a poorly performing economic year. Online and offline tax return software and companies are competing for more customers. Turbo Tax 2009 filing system, which arguably is better position online than its competitor H&R Block, says it will guide its customers like a navigation system.
Turbo Tax Premier 2009, which has lowered its price from $74.95 to mere $49.95 says it is the best option for investors. The online Premier version of Turbo Tax says will guide the user reporting stock sales, bonds and mutual funds. It will also help to calculate gains and deduct investment losses. It will also search for tax-saving rental property deductions.
All of this is offered with a free e-file in easy five steps. Turbo Tax 2009 online Premier first gathers personal information. The it deals with the federal taxes. Next, it calculates the state taxes. The fourth step is a wrap-up. The final fifth step is printing and filing. The program says it guarantees maximum refund.
Turbo Tax 2009 claims that 95 percent of Americans could benefit from the 2009 economic stimulus package. Thus it's new version says it will guide the taxpayer through all of these possible deductions and credits that they are entitled. It will also show the taxpayer exactly how much money he, she or the family is saving in a new summary screen.
Turbo Taxes real time error check immediately catches errors so the customer does not do a wrong turn or detours. This is particularly important as according to Turbo an estimated 5.6 million eligible taxpayers failed to claim this credit, potentially missing out on as much as $4,600.
Another interesting features of the 2009 Turbo Tax online version is the availability of a tax expert for questions and instant answers. For $14.95 the company offers its consumers an unlimited number of questions answered instantly through "Ask a Tax Expert" feature. The answers come from fellow users and tax experts from the Turbo Tax Live Community. Last year, according to the information released by the company 6.8 million customers interacted with the this online community. This could mean that only this feature brought Intuit $101.66 million dollars in revenues if each of these 6.8 million customers paid 14.95.
There are two other new features that come with the Turbo Tax online edition helping taxpayers to maximize revenues. One is the ability to sign up with Mint.com, which will alert the taxpayer when the refund is deposited. The second is the TurboTax Refund Card, which is a prepaid debit card helping the customers to get their refund quickly. The company says this feature is valuable considering there are 20 million "unbanked" Americans.
In our series of taxation coverage we will soon cover other e-filing softwares and companies, such as H&R Block and others. In the meanwhile, IRS is going after paid tax prepares, who face competency tests.
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