TaxAct 2007: Free Efiling Software

Posted by Madison on February 7, 2008

Tax time is getting closer! I actually enjoy doing my taxes and find it a fun challenge to make sure we’re taking advantage of all the tax savings strategies available to us.

I’m almost done collecting tax papers according to my organized list. I’m now ready to start entering my data. Usually I use either TaxCut or TaxWise when volunteering to complete my taxes. Of course I like to find the cheapest way to file.

Free Tax Software

TaxAct

taxactWhen TaxAct boasted free efiling for everyone it caught my attention! It sounds like a good option for those who don’t qualify through the IRS option.

TaxAct Versions

The Standard product is free which includes free federal efiling. The deluxe and ultimate products are available for a fee. From the comparison it looks like the fee packages offer the ability to import data from last year, calculators, and reports. The ultimate version includes a state return. It appears the federal version has everything needed to complete a federal return.

I don’t care for the online products because I like to download the software; luckily TaxAct has a download option. I downloaded it yesterday and I’m going to give it a try. It would have been nice to use TaxCut again so that I wouldn’t have to reenter any data…. but I’m willing to switch for a free product!

Others who have used TaxAct successfully over the last few years:

Have you used TaxAct? What did you think?



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Comments to TaxAct 2007: Free Efiling Software

  1. Eagerly waiting for your review.

    unimax

  2. I tried the TaxAct free version dowloadable. It had a great interface, very INTUITive (couldn’t resist the pun).

    One thing about the interface and interview screens is the frequent nag screens to purchase the upgraded product but oh well, you get what you pay for.

    My biggest gripe is that it miscalculated my taxes. My wife still has student loan interest which is partially deductible. TaxAct erroneously deducted the full amount rather than the adjusted amount. I confirmed the figure with the tables on the IRS website.

    Also, I made an error on a dependent’s SS number which caused initial rejection by the IRS. I then followed TaxAct’s instructions for re submittal but continued to get the same error. I have no way of knowing, but wonder if the free version simply refused to resend anything but the original return due to limitations of the free version? No idea, I just know it didn’t work.

    I then went to TurboTax and used their web interface free version with free e-file. Everything went smoothly and was correct the first time.

    Despite it’s nice interface and all, I do have to defer to accuracy. Therefore I would recommend one be careful of TaxAct. BTW, I happened upon a writeup from a year or two ago comparing the two and they revealed inaccuracies in TaxAct as well. Sorry I can’t remember where the article was but I did find it via a Google search.

    Oh, and BTW, be aware that when you submit your returns, apparently these services keep some or all of your personal info on their servers and will notify you via their system of rejections.

    Nateville

  3. I’ve used TaxAct Online the past 5 years. There’s always been a charge for efiling though, so I just always mailed my forms in after using the online program. Worked very well. Wish I’d seen that they are giving the efile away for free. I just went in with a buddy on TurboTax for $10. I just got married and bought a house so I thought I’d need a better program. Not that I ever had problems with TA Online.

    PT from Prime Time Money

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