Tax Time Made Easier Online

It’s that time of year again. The dreaded tax deadline is almost here, and if you are a procrastinator and haven’t done your taxes yet, there’s an affordable online savior for you – web-based tax software.

I’m personally am a big fan of these online tax services because there’s no hassle with trying to figure out what all the different forms mean and what you’re supposed to do with them. With all the electronic options out there these days, who wants to sit there and manually fill out those forms? There are several options out there for you last-minute do-it-yourselfers.

I’ve been using Intuit’s TurboTax for years and I still think it’s the best. Back in the 1990s, I started off with the TurboTax software you can buy in the store, and now I just use it online. When you first begin, it can be a little confusing because it has you choose what level to go with: 1040EZ, Basic or Premier. Once you get past that, it takes you through an easy step-by-step process and asks you questions that pertain to your return. It’s also smart enough to bypass major sections of the questions that are not relevant to you, enabling you to go through the procedure with speed and accuracy.

If you’re a first-timer, the whole thing takes about an hour, as long as you have all your W-2s and other necessary paperwork in order. If you’re a returning TurboTax user, it will remember your information from the previous year(s), which makes it even more efficient. Being a returning user, it took me only about half an hour to do both my federal and state taxes this year. TurboTax for the Web (www.turbotax.com) is $9.95 for federal and state each for the 1040EZ option, Basic is $19.95 (federal) and $24.95 (state), and Premier is $39.95 (federal) and $24.95 (state). You can also try www.statetaxfreedom.com (powered by TurboTax) to see if you qualify for a free return.

Other options out there include TaxAct (www.taxact.com), TaxNet (www.taxnet.com) and H&R Block’s online service (www.hrblock.com). If you have a simple return, TaxAct and TaxNet are the free best free deals for both federal and state with a printed version (or pay a small $8 or $10 fee to e-file). H&R Block’s program gets the job done, but it’s a bit lengthy, often asking duplicate questions. Prices are $34.95 (federal) and $24.95 (state) for the Standard option and Premium is $49.95 (federal) and $34.95 (state).