FreeTax.com is a tax prep software program owned by Liberty Tax, and traditionally it’s been one of many few firms that would legitimately declare free tax submitting for all customers.
Nonetheless, the “Free” a part of FreeTax.com is in jeopardy this 12 months. Whereas customers can put together their returns at no cost, they should pay for e-filing. Given this wrinkle, most customers can discover higher software program at comparable value factors.
Right here’s what you want to find out about FreeTax.com this 12 months. Additionally, ensure you test our full checklist of the Greatest Tax Software program.
Editors Word: FreeTax.com isn’t any extra. Mother or father firm Liberty Tax has shut down its FreeTax.com model for the 2023 tax 12 months (2024). FreeTax.com was one in all our lowest-rated tax submitting options, so it will not be missed by many. In case you are have used FreeTax.com up to now, we advocate visiting Liberty Tax as a substitute, and even higher, take a look at our checklist of the greatest tax software program for 2024.
- Solely free to print and mail taxes
- Costs $14.95 to E-File provided that you get a pay as you go debit card
- We do not advocate mailing taxes attributable to lengthy delays
FreeTax.com- Is It Actually Free?
FreeTax.com permits customers to arrange and print their taxes at no cost. Nonetheless, they cost $19.95 to E-File when you settle for your refund on a pay as you go debit card. Those that need their refund test one other means should pay $39.95 to e-file.
What’s New In 2023?
Final 12 months, FreeTax.com, a model owned by Liberty Tax relaunched it as a free tax website. The FreeTax.com website makes use of the identical software program as LibertyTax, eSmartTax, and several other different main tax websites together with 1040.com.
Nonetheless, in contrast to previous years, free incorporates an asterisk. The corporate helps free state and federal tax type preparation. Customers can then print out their types and mail them in. To e-file, customers should pay $19.95 (or $14.95 if they may settle for their refund on a pay as you go debit card).
Possibility to decide on between steerage and type choice.
Does FreeTax Make Tax Submitting Straightforward In 2023?
FreeTax.com works properly for folks with fundamental tax conditions. It may well simply deal with W-2 earnings, curiosity, dividends, and main deductions and credit. Even folks with fundamental self-employment can use the software program efficiently.
Nonetheless, FreeTax.com shouldn’t be designed for complicated tax conditions. Energetic inventory or crypto merchants might spend hours keying in every transaction manually.
Landlords have to make use of the search perform to seek out depreciation worksheets.
As customers work by way of the software program, the software program provides little suggestions that may assist customers work out whether or not they’re getting into their info accurately. A consumer who miskeys info might dramatically alter their tax info attributable to a easy and avoidable mistake.
Total, FreeTax.com simplifies tax submitting for some customers, however folks with extra complicated tax conditions ought to keep away from it.
FreeTax Options
Whereas FreeTax.com doesn’t have excellent software program, there are a couple of options that make it compelling.
Put together Tax Returns For Free
FreeTax.com permits customers to arrange and print their state and federal tax returns at no cost.
Free Multi-State Submitting
FreeTax.com permits customers to file taxes in a number of states. It’s the solely free tax software program that helps multi-state submitting this 12 months. This can be a notable downside from different free software program like Money App Taxes.
Associated:
Do I Have To File Taxes In A number of States?
Guided Naviation
FreeTax.com customers can simply discover their means by way of the software program by answering questions. Based mostly on a consumer’s solutions to the questions, the software program leads customers to enter info from related tax types. Nonetheless, customers with extra complicated earnings (investments, actual property, self-employment) should choose their earnings from the menu earlier than receiving extra steerage from the software program.
Instance of guided navigation.
FreeTax Drawbacks
These are a couple of areas the place FreeTax.com fails to impress this 12 months.
No Possibility To Import Types
Customers can’t import tax types akin to W-2 types or 1099 types. All tax info should be manually transferred to the FreeTax.com software program. This will increase the period of time that customers should spend on tax prep. Nonetheless, no cut price software program provides import choices this 12 months.
Arduous To Use For Advanced Earnings Sources
Determining how one can depreciate bills is a big ache within the software program. It’s extraordinarily tough for landlords and self-employed folks to make use of FreeTax.com to arrange their taxes.
No Part Summaries
A number of firms supply part summaries that assist customers work out whether or not they’ve entered all the mandatory info. With out part summaries, FreeTax.com leaves customers guessing about whether or not they’re utilizing the software program accurately.
FreeTax.com Value And Plans
Whereas all customers can put together their taxes at no cost, FreeTax.com fees for e-filing a return. The main points of the e-filing prices are laid out beneath.
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Taxable earnings lower than $100,0000 |
Taxable earnings greater than $100,000 |
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How Does FreeTax Evaluate To The Competitors?
FreeTax.com permits customers to arrange and print their tax types at no cost, however they should pay for e-filing. The opposite firms embody e-filing with the software program.
To pretty evaluate FreeTax.com, we’ve included a particular line to check the price of e-filing. We’ve in contrast it to different cut price software program together with Money App Taxes (free) and TaxHawk. We additionally added 1040.com as a result of it makes use of the identical software program underneath the hood. From a consumer expertise standpoint, we choose Money App Taxes and TaxHawk over FreeTax.com
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$14.99 per extra state |
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Retirement Earnings (SS, Pension, and so on.) |
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Is It Secure And Safe?
FreeTax.com makes use of each encryption and multi-factor authentication to maintain consumer info secure. It holds up the business requirements which might be commonplace for tax submitting firms.
Though the software program is free to make use of, customers can really feel assured that FreeTax.com and its father or mother firm, Liberty Tax are more likely to preserve consumer info secure.
Nonetheless, no firm can assure info security. Any info transmitted on-line may very well be hacked, so customers ought to fastidiously consider the dangers earlier than transferring ahead with any tax submitting firm.
Remaining Ideas
FreeTax.com is an appropriate software program for filers with easy tax returns. It’s not best for folks with complicated earnings akin to inventory or crypto trades or landlords. Nonetheless, FreeTax.com isn’t actually free in 2023. The price of E-Submitting makes it costlier than cut price software program like FreeTaxUSA or Money App Taxes.
If you wish to put together and print your information, FreeTax.com may very well be possibility, however most others ought to overlook it this 12 months. Plus, keep in mind, when you print and mail your tax return, you would be ready months to your tax refund.
FreeTax FAQ
Let’s reply a couple of of the most typical questions that folks ask about FreeTax.com.
Can FreeTax.com assist me file my crypto investments?
Whereas FreeTax.com helps crypto investments, customers will discover the interface cumbersome. The software program requires customers to manually enter every transaction individually in a protracted, cumbersome type.
The primary a part of the inventory and crypto commerce type.
I didn’t obtain the total quantity for Superior Little one Tax Credit score Funds, can FreeTax.com assist me get the remaining?
FreeTax.com guides customers by way of questions that assist them declare the right amount for the kid tax credit score. Dad and mom who did not obtain the advance funds will obtain the stability of the credit score of their refund.
Can FreeTax.com assist me with state submitting in a number of states?
FreeTax.com helps multi-state submitting on all tiers. Customers don’t should pay additional for submitting in a number of states.
Will FreeTax.com preserve my info secure?
FreeTax.com has not suffered from safety breaches up to now, and it has strong safety in place to maintain consumer info secure. Nonetheless, the corporate is predicated on-line and it can’t assure the security of consumer info. Customers should consider their willingness to tackle this danger earlier than utilizing the software program.
Does FreeTax.com supply refund advance loans?
In 2023, FreeTax.com doesn’t supply refund advance loans.
