H & R Block’s TaxCut software and website can help ease the pain associated with this time of year; it allows even a severely financially-challenged individual such as myself to quickly fill out and file my income tax forms. The software corrects all the mistakes that I normally make (anything involving any sort of math) and, in the event that any errors should make it through, H & R Block guarantees audit support. Sweet!
You can find Block’s 2008 TaxCut software at just about any store that carries software. I usually wait until the last minute to begin thinking about my taxes so I use the buy online option at the H & R Block website.
Block offers various version of its tax software: 2008 TaxCut Basic Federal, 2008 TaxCut Premium Federal, 2008 TaxCut Premium Federal & State and 2008 Home & Business. All of the programs come with free e-file, which allows you to file your taxes online for free.
My taxes are pretty simple, usually I file a 1040 or 1040EZ, so I go with the TaxCut Basic Federal. It’s the cheapest of the options and its features cover all the basics. The only drawback to the TaxCut Basic Federal is that it only fills out the form going to the IRS. However, for about $20 you can have the program fill out the state taxes too.
The software can be used five times which means you can use it to fill out other members of your family taxes or hang on to it and use it for four more years. It automatically updates its files over the Internet so it is current with the latest changes in the tax code. It will also access your past tax forms and use the information to fill out the current form you are working on which can cut tax filing time in half.
TaxCut Basic Federal is compatible with other financial software like Quicken or Microsoft Money and will automatically import financial data such as deductions, expenses and charitable donations.
H & R Block’s software walks the user through the process of filling out the form by asking simple questions and showing the user where to find information on their W2 forms. After the basic contact and W2 information has been loaded into the program, it then begins a series of questions to determine your annual expenses, any additional deductions you may be entitled to and it also suggests deductions that you may have overlooked.
Located in the top corner of the computer screen is a running tally, which lets you know how much money you owe or how much the government owes you. When the program is finished, it runs a final error check and lets you know if any problems exist and how they can be corrected.
After the final check, you have the option of choosing to have the program fill out your state taxes for a additional fee. If you choose to do this, it will fill out most of the state tax form using the information you already entered and then it will ask a few questions that are specific to your state. When you are finished with the state, the program will run an error check again.
After the final error check you have the option of printing your return and mailing it or filing the returns through H & R Block’s e-file. This option is a very easy way to insure that you are never late filing your taxes and reduces the risk of penalties. The entire process usually takes under an hour and you are done. H & R Block’s tax software takes all the work of filing your 2008 taxes and you can put off thinking about taxes until 2009!