File Your Taxes Review – Online Tax Filing
File Your Taxes has been offering taxpayers the opportunity to file their Federal and state income taxes online since 1995, which makes them relatively early adopters to the online filing business. It doesn’t appear that their Website has moved into the twenty first century, however, as their user interface is somewhat awkward. Still, File Your Taxes offers taxpayers an affordable and secure filing experience and it should be relatively easy to file with them, regardless of your needs. Read on for our full File Your Taxes review.
File Your Taxes Overview
Unlike a lot of other tax preparation products, File Your Taxes does not have a tiered pricing system. Many do; if you want to file with the 1040 EZ form, there’s one price, but if you own property, you may pay more and if you own a business, you may pay more still. It doesn’t work that way at File Your Taxes. Instead, you’re charged a basic “construction” fee for either your Federal or your state return and then you are charged additional amounts for certain forms or schedules, or for including more W2 or 1099 forms than the basic fee permits. This is sort of a piecework approach to filing and it may save money for some filers while others may find themselves paying more than they would elsewhere. File Your Taxes is part of the Free File Alliance, so qualified taxpayers will be able to use the services of File Your Taxes for free. Be sure to read the fine print on their Website, as it’s quite specific regarding who may and may not file for free. We’ve seen numerous complaints on the Web regarding File Your Taxes pricing, but we found the pricing for everything listed on the Website. Of course, as we mentioned earlier, the File Your Taxes Website isn’t the easiest to navigate.
Once you log in and create an account, you’ll be given the option of how you want to proceed. If you like it “old school” and you simply want to fill out forms, you will have that option. If you’d rather do it interview-style, where you simply answer a series of questions that determine which forms and schedules you need, you can go that route, too. File Your Taxes can handle returns for just about anyone, including those with dependents, those with business or rental income, those with stock transactions, and the self-employed. You’ll have the ability to file extensions or amend returns (for a fee) and you can access previous years’ returns, which can make it easier to get started on this year’s returns.
Tech support at File Your Taxes is offered online and via telephone, for a fee, though all support for free filers is fee-based. The basic fee for a Federal return is $27.95, though you’ll pay extra for such things as extra W2 forms, a 9465 or 56 form, or other additional forms and schedules listed on the site. The state return has a base price of $24.95 if you filed a Federal return; it costs a bit more if you’re filing the state return as a standalone product. Depending on your needs, you may find File Your Taxes to be a bargain or it could turn out to be quite expensive. It appears that File Your Taxes may not be the best choice for those with a small business, as the extras can add up in a hurry. Unlike other products, File Your Taxes does not charge you to actually submit your return to the IRS. This is included in the basic fee. We found no information on their Website regarding whether they’ll guarantee accuracy or assist you should you be audited. Most tax preparation companies offer some sort of guarantee regarding accuracy and promise to pay your penalties or interest if their software is at fault. We see no mention of this on the File Your Taxes Website.
We’re certain that File Your Taxes can help you file your taxes in a timely manner and that your refund will come fairly quickly and that their software is fairly accurate. If you’re aware of your deductions, File Your Taxes can handle them adequately, as can any other tax program. What many people don’t realize, however, is that no tax preparation software can tell you about every way in which you could be saving money. Why? Because the U.S. tax code is complex and has hundreds of changes annually. Many of the things you can deduct can have their amounts calculated in multiple ways and some of them may save you more than others. Most software uses a single formula to calculate deductions and doesn’t check to see if another way of calculating the amount might save you money. It’s up to you to know these things and knowing every way in which you could be saving money is simply beyond the capabilities of the average taxpayer, who simply doesn’t have the time to do it.
In order to save the most on your taxes, using File Your Taxes or any other product, you need a resource that can tell you about all of the ways you could be saving money, so that you can enter that information into your chosen piece of tax software. Once you do that, the calculations will take place and you’ll save money. Without access to such a resource, you’re stuck with taking standard deductions or mortgage interest. Those help, but what if there were hundreds of other ways you could be saving money, each and every year? Wouldn’t you want to know about them?
File Your Taxes can do the basics, as can just about any other piece of tax preparation software on the market. If you want to pay the lowest taxes you can legally pay, tax preparation software isn’t enough. You also need a tax strategy. With that in place, you can save money, year in and year out.