You take your refund in the form of an Amazon gift card and Amazon adds 5% to it. Free money. I've done it in the past.
You surely are increasing risk by providing your tax data in electronic form to an intermediary.
A hack of IRS is a constant regardless of filing method.
No shock, I file on paper.
What I do is create a notepad (text) file and burn that along with the software to the CD. That way, if I ever need to reinstall, the unlock code is only a copy/paste away.
Do not mean to hack this thread. How technically difficult is it to do this. I am pretty technical but have always wanted to do it but never known the steps.
Thanks
edit:
think I just figured it out with the help of YouTube.
The last time I filed on paper it was rejected because someone had already filed a fraudulent return in my name. I still get an IRS IP PIN number every year because of this.
But yes, *technically* it's an extra entry point to use a 3rd party. However, I'll just point out that while Equifax and the IRS have both been hacked, 3rd party tax return preparation sites have not (that I have ever heard of).
I was about to grab it and then remembered that the new laptop that I will install it on doesn't have a CD drive!
Copy the contents of the CD to a flash drive, network storage, a shared drive on another computer, a cloud storage like google drive or even zip it up and email to yourself.
Switched from TurboTax to TaxAct 3yrs ago, now switching to FreeTaxUSA.com because TaxAct wants something like $79 this year. I haven't gone too far with FreeTaxUSA yet but it was able to grab the basic info from my last year's PDF I uploaded. Still waiting for all my W2s, tax statements etc to proceed.
It seems FreeTaxUSA is $0 even for small business. That's the only reason I had been buying last few years to TT, TaxAct, H&R. I think I'll go with FreeTaxUSA this year also. THANK YOU for mentioning it.
I tried H&R Block last year after years of TurboTax to save a few bucks, and because I'd get annoyed at TT constantly trying to upsell me on a higher priced version. I'm going back to TT this year. H&R Block was ok except for 3 things I found unacceptable:
- It didn't file form 2210 for the foreign tax credit, because my tax liability was 0 last year and couldn't take the credit. But, I can claw back or carry over that credit to other years. When I tried to do that, the IRS rejected it because I didn't file anything to show the credit for 2016. I had to file an amended 2016 return showing the unused credit, figuring out how to force 2210 to print, and refile the amended 2015 return to take part of it then. This was a pretty major mistake and a pain to correct with amended returns.
- In the printed/pdf return, it doesn't print the QDivs and Cap Gains worksheet that shows how your tax liability is actually calculated with you have divs and CGs. It didn't cause me any problems, but I like to see what actually goes into the tax calculation. TT always prints it as an important supporting form.
- The PDF file for the finished return isn't index like TT does. In TT I can quickly find a form I want to jump to. In HR&B I have to figure out what to search for that will take me to that form and not get caught up in other matching strings, or I have to scroll down to find it. That's a big usability issue when I go back looking at my return.