Message From Liberty Tax
On September 1, 1997, Canadian tax franchisor UandR Tax Depot was acquired. In 1998, the company opened five offices in the U.S. and became Liberty Tax Service. Today, we have more than 3,000 Liberty Tax Service offices in the United States and Canada. For the 2018 tax year, we prepared more than 1.7 million individual tax returns. Our headquarters are located in Virginia Beach, Virginia. Our mission remains the same as when we first opened: offer the flexibility of a personal tax consultant and the security of a large, established company. We continue to provide our unique range of tax preparation services and expand our presence in the competitive personal income tax industry.
With four options to help simplify taxes for your family or your business, Liberty Tax Online has the right tax filing product to suit your unique needs. Import your info from a competitor for free. File taxes online in as little as 15 minutes. 100% Accuracy Guarantee Our online tax software gives you the most accurate return and the largest possible refund youre entitled to.
Best For Live Support: H& r Block
- State: $36.99 per state
Supported tax forms: All tax situations
Free features: Free federal and state filing, free tax tools
H& R Block is one of the oldest tax preparation services, founded in 1955. Over the past 60+ years, its developed into a world leader in the industry.
Besides visiting a local H& R Block tax professional, you can also file your tax return online with H& R Block. With several different options and price points, H& R Block has something for every person, no matter their tax situation.
On top of free and Premium tax filing services, customers can receive online support from a tax specialist through Online Assist. This could be help from a tax expert, enrolled agent, or a CPA. Online Assist is available as an add-on to every filing option. There is a fee for adding this extra support, but its perfect for people who need extra help as they work through their tax return.
Online Assist provides unlimited expert one-on-one help, simplifying the process. You can confidently file your tax return, knowing everything is accurate, and every possible deduction was included.
How To Save On Your Tax Bill
Tax planning involves several items. Employees want to make sure that they withhold enough taxes to avoid under-withholding penalties. Those who wish to owe nothing at tax time or receive a certain refund can adjust their W-4 form to create the result that they desire.
The IRS offers a handy Withholding Estimator taxpayers can use to fill out their W-4 forms.
Investors and business owners must send in estimated taxes either quarterly or monthly, depending on their income. They can use the Estimated Federal Tax Payment System online to do this.
Tax planning also includes paying for taxes. Taxpayers who must borrow to pay taxes or set up an installment plan end up paying interest and under-withholding penalties . So taxpayers who want that interest-free loan from the government but also want to pay their balance by the April 15th filing deadline should put that money where they can earn a return on it but access it easily when needed. That can be savings accounts, short-term CDs , mutual funds and other liquid investments.
For complex situations, a CPA, EA, or tax attorney may be able to help trim a tax bill. Finding tax-advantaged investments, the best way to set up a business, or the smartest way to time and classify expenses are all parts of tax planning for lower bills in the future.
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Which Tax Preparation Service Is Right For You
With the help of online tax software preparation services, like those mentioned above, you can file your own taxes like a pro. Many services allow you free account access to start, only paying once you actually file. Why not take advantage of the convenience and support found with online tax software? Youll gain a better understanding of the entire tax filing process and save money at the same time.
Does Liberty Tax Really Give You 50 Dollars
Liberty Has You Covered. Like Up To $50 In Your Pocket Kind of Covered. Want $50* cash in your wallet? File with Liberty Tax® before February 15 and well make it happen because we figure early filers deserve perks for being so responsible.
What bank does Liberty Tax Service use?
Republic Bank & Trust CompanyThe Netspend® Liberty Tax® Prepaid Mastercard® is issued by Republic Bank & Trust Company, Member FDIC, pursuant to a license by Mastercard International Incorporated.
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What Is A Tax Preparation Service
Tax preparation services are full-service offerings to complete your annual tax filing forms for the IRS and, if needed, state tax agencies. Unlike online and desktop tax preparation software where you do your own taxes, a tax preparation service will review your tax forms and complete your taxes for you.
Some tax preparation services are available through local offices in-person. Others give you access to a preparer or team of preparers online through a mobile app or website.
Do I Have To Pay Someone To Do My Taxes
Many Americans lean heavily on professionals to do their taxes. Paid tax preparers filed about 59% of the more than 134.2 million individual income tax returns e-filed in 2018, according to the IRS. Keep in mind that number doesnt include paper returns or more-complex returns like ones for estates, trusts or tax-exempt organizations, so the actual percentage of returns done by paid preparers is probably higher.
While some people with complex financial situations may benefit from getting professional help filing their taxes, many people can file their own taxes and skip the professional-preparation fee.
Online tax preparation services offer a do-it-together approach to tax filing that can help you avoid the filing preparation fees and still get it right. Here are some points to keep in mind if youre debating whether to use online tax preparation software or shoulder the cost of tax preparation by a professional.
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Premium Tax Filing Services
If your situation is especially complicated, you’ll appreciate Liberty’s Premium service. Available for $64.95 for federal returns and $36.95 per state return, the Premium service allows you to file a wide variety of forms and schedules including Forms 1040, 4562, 8829, 4136, 4684, 4835, 8839, and 8853, and Schedules A, B, C, E, F, K-1.
This tax filing service could work for you if you have income from self-employment business deductions rental or farming income income from an estate unreported tips and income from other uncommon sources. If you’ll owe income tax on more than $100,000 in income, you should also opt for the premium tax filing service.
Best Online Experience: Turbotax Live
TurboTax Live
TurboTax Live is an add-on to the TurboTax software that brings in a tax professional to complete your tax return for you.
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Have your taxes prepared by a professional without leaving home
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Four pricing tiers correlate to the complexity of your tax return
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Option to start your taxes on your own and upgrade to a professional preparer
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Self-employed taxes with one or more state can become expensive
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No option for in-person support
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Not all professional preparers are CPAs
TurboTax is perhaps best known as the largest provider of online tax preparation software and regularly ranks at the top of do-it-yourself tax program lists, but it also has a service where a tax professional takes care of everything for you online. It doesn’t matter where you are in the online process, if you’ve begun your return and find you need help, TurboTax Live can be elected and you can hand the return off at any time.
For the full-service TurboTax Live option, pricing ranges from $199 for basic returns to $389 for complex returns, with an additional fee for state taxes and multiple forms. This is in addition to the software costs, which range from $79 to $199.
Because its completely online, TurboTax is best for tax filers who are more comfortable with computers and technology. That also means there is no drop-off option. However, if you are a digital native, TurboTax offers the most seamless, easy-to-navigate digital experience with pricing competitive to other tax preparation services.
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Advantages Of Online Tax Preparation
- Affordable: Many online tax preparation services offer to file your basic federal tax return for free. However, they may charge a fee if you have a business or investments, if you want to file a state return or need to complete and file certain other tax forms along with your 1040 tax return.
- Faster: Eight in 10 taxpayers get their tax refunds faster by opting to e-file and have their refunds directly deposited into their bank accounts, according to the IRS. In fact, the IRS says e-filing with direct deposit is easy to do and is the fastest way to get your refund if youre owed one. Also, the actual filing process can go more quickly if the service you choose helps you consider your options and lets you know if anything is missing.
- User-friendly: Online tax preparation services typically walk you through the entire process, asking questions to help you avoid mistakes.
How Much Does Liberty Tax Charge To File Taxes 2020
How Much Does Liberty Tax Cost? The Basic tier of Liberty Tax supports W-2 and unemployment income, the Earned Income Credit , and taxable interest of under $1,500. It assumes youll claim the standard deduction. Deluxe costs $64.95 for federal returns and $34.95 per state.
Where are Liberty Tax Offices located?
- Liberty Tax Service Headquarters Phone Number Toll Free: 1-757-493-8855 or 1-800-790-3863. Liberty Tax Service Headquarters Address and Corporate Office: 1716 Corporate Landing Parkway Virginia Beach.
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H& r Block And Turbotax
Filers who want all the bells and whistles can look to H& R Block and TurboTax. Both providers deliver a smooth interface and get high marks for ease of use. H& R Blocks advantages are lower cost and its network of brick-and-mortar offices if customers decide to switch to an in-person experience.
TurboTaxs edge also lies in its many delivery options, from a completely cloud-based preparation to downloadable software to an actual CD.
What To Do With Your Tax Refund
Those lucky enough to get a tax refund have many options for spending or saving it. At this time, however, some may need to use their refund for basic necessities like rent and groceries if their job status changed due to the coronavirus. Here are some other options for what to do with any excess amounts:
- Increase emergency savings. Experts recommend two to six months of living expenses, depending on the reliability of income.)
- Pay down high-interest debt. This is a good strategy that can cut interest costs now and reduce future borrowing costs by increasing FICO scores.
- Put it toward next years taxes. This may be a good strategy if you owed too much in 2019 and want to head off an under-withholding penalty.
- Invest for retirement.
- Pay for home improvements or repairs.
Tax time isnt fun for anyone except possibly tax professionals. But with the right planning and product, most taxpayers can survive the season with minimal pain.
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Deluxe Tax Filing Services
Liberty’s Deluxe service is $44.95 for federal returns, and the price for a state return is $36.95. You’ll be able to submit more forms with this upgraded program including Forms 1040, 4562, 8829, 4136, 8839, and 8853 as well as Schedules A, B, and C.
If you have capital gains from investments or retirement income, this could be the right program for you. You can also use this program to claim education tax breaks or deductions for IRA contributions, alimony payments, or retirement expenses.
You can itemize your deductions with the Deluxe service as well, which makes this the ideal choice if you have a lot of medical expenses, high mortgage interest payments, or enough other deductible expenses to exceed the standard deduction.
Best Accuracy Guarantee: Taxact
- State: $39.95 per state for simple returns, $44.95 per state for all other tiers
Supported tax forms: All tax situations
Free features: Free federal tax and state return filing, free tax tools
TaxAct has you covered, no matter your tax situation. Theres a free version that includes simple returns and premium offerings for those with more complex tax situations, from credits and deductions to investments and rental properties. Theres even a self-employed version for freelancers and independent contractors.
You cant talk about TaxAct without mentioning its $100K Accuracy Guarantee. Most online tax software services have guarantees, but not to this extent. TaxAct guarantees their software is 100% accurate and will calculate the maximum possible refund for customers.
If theres an error in the tax software that causes you to receive a smaller refund or larger tax liability than you get from another tax service, TaxAct will pay you the difference, up to $100,000. Youll also receive any fees paid to TaxAct for filing services.
If you are audited by the IRS and end up paying penalties or interest because of a software error, TaxAct reimburses any penalties and most audit costs, up to $100,000, plus TaxAct software fees. Certain limitations apply, but its great to know that TaxAct stands behind their product like this. You can file taxes with confidence, knowing that TaxAct has your back.
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Does Liberty Tax Give You $50 Dollars 2020
Like Up To $50 In Your Pocket Kind of Covered. Want $50* cash in your wallet? File with Liberty Tax® before February 15 and well make it happen because we figure early filers deserve perks for being so responsible. Get your W2s, your questions, and your concerns, and start planning what youll do with your $50.
Liberty Tax Reviews And Complaints
Liberty Tax Service is not accredited by the Better Business Bureau and has a 1 out of 5-star rating based on 12 customer reviews. Of those reviews, many complain about its in-person filing services. Multiple people say their returns had mistakes that resulted in IRS penalties and fines. Others complain about expensive filing fees.
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Liberty Tax Customer Service
If you need assistance finding a local Liberty Tax office, you may call 866-871-1040 or 800-790-3863 to get in touch with the companys headquarters. If you have questions about Libertys online services, you may reach out to or
Liberty Tax does not provide an online chat tool, but if you need assistance, you may visit one of the companys more than 3,000 local locations and speak with a tax preparer.
How Do You Get $50 From Liberty Tax
Like Up To $50 In Your Pocket Kind of Covered. Want $50* cash in your wallet? File with Liberty Tax® before February 15 and well make it happen because we figure early filers deserve perks for being so responsible. Get your W2s, your questions, and your concerns, and start planning what youll do with your $50.
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Does Walmart Do Taxes For Free
Now, Wal-Mart is expanding the services it offers at tax time. This year, more than 3,000 Walmart stores will have either a Jackson-Hewitt or an H& R Block kiosk inside to help shoppers prepare and file their tax returns, and all consumers who qualify to submit a Form 1040EZ can do so free of charge.
Those Susceptible To Audits
If youre at all concerned about the possibility of an audit, Liberty Tax Online may not be the best choice. Though they provide a considerable amount of audit advice, they dont actually represent you before the IRS. In that regard, you might be better off with TurboTax, since they provide a more comprehensive audit package, including direct representation before the IRS.
But for the most part, the ability to shift to in-person assistance from the online software makes this program worth using for just about any taxpayer.
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Which Is Better Liberty Tax Or H& r Block
Liberty Tax and H& R Block both offer the option of filing your taxes online or getting help with your tax planning from a tax professional at an in-person location. When choosing between them, the best option will depend on your personal situation.
H& R Block offers the opportunity for those with simple returns to file for free, which makes it a better choice if you’re eligible to submit a no-cost return. However, if you are self-employed or have other uncommon income sources, H& R Block’s online filing for self-employed individuals is more expensive than the option Liberty Tax offers.
Is Liberty Tax A Good Franchise
Liberty Tax is an average to below-average tax preparation company. Its online tax services get decent ratings, but its in-person tax services are rated very poorly. If youre a small-business owner looking for in-person assistance, its best to consider an option like eFile.com, TurboTax, or H& R Block.
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How Much Does Liberty Tax Charge To File Taxes
By David KrugDavid Krug is the CEO & President of Bankovia. He’s a lifelong expat who has lived in the Philippines, Mexico, Thailand, and Colombia. When he’s not reading about cryptocurrencies, he’s researching the latest personal finance software.6 minute read
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Free in-person reviews are available at participating Liberty Tax locations where you may easily file your taxes online. With so many alternatives available, it can be difficult to choose how to file your taxes. You dont have to deal with the IRS forms on your own, though. The finest tax software guides you through the process and makes filing your taxes as straightforward as possible for you to complete.
How Much Does Liberty Tax Charge To File Taxes? You may choose from a wide variety of tax software programs on the market. An in-depth look at Liberty Taxes online tax filing service will help you determine if it is the best option for completing and sending the necessary paperwork to the IRS.
