How Do I Get Help Filing My Taxes Online
If at any point you have a question about your taxes or the software, you can browse answers on our online help forum 24/7, or post a question for our online community of users and experts. While youre filing you may realize that youre looking for more guidance or help with your taxes. In that case you can upgrade to a different TurboTax Online product at any time without losing any of the data youre already entered.
Need more help? TurboTax Live Assist & Review gives you unlimited tax advice from one of our tax experts as you do your taxes, plus a final review before you file to make sure you didnt miss anything. Or if you want to hand off your taxes to one of our experts, TurboTax Live Full Service allows you to simply upload your documents and our experts will complete and file your return for you.
Best For Simple User Experience
Pros
- Supports most common tax topics
- Good mobile versions
- No hyperlinked terms in Q& A
- Some nonstandard navigation
Online tax preparation sites and their companion mobile versions have radically changed the way we file our income taxes. Rather than scribbling on a handful of IRS forms and schedules you grabbed at the public library, you’re now more likely to turn to dedicated services and software that have streamlined and simplified the process. In fact, as of October of 2020, 71,761,000 self-prepared returns had been e-filed for the 2019 tax year, according to the IRS. That represents a 24.6% increase over those who e-filed for the 2018 tax year. While at first e-filing on a phone was limited to the simplest of returns, mobile devices have been able for years now to deal with even the most complex tax situations. As of this March, the IRS changed the 2020 tax filing deadline to May 17, with e-filing having opened on February 12.
This year, we reviewed eight personal tax preparation services and their companion mobile versions, combinations that make it possible to prepare and file your return no matter where you are. Some of these are available as Android apps and iOS apps, and others feature responsive websites that are easily accessed via your smartphone’s browser.
Up To Date On All Credits And Deductions
TurboTax Free contains all the federal and provincial forms you need to get your Canada income taxes done including the newest credits and deductions. From the Family Tax Cut to the now-refundable Childrens Fitness Credit, find all your deductions with TurboTax Free. Checklists for:Students ,Dependant Credits,Seniors and Investors
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What Is A Simple Return
Simple tax returns covered my MyFreeTaxes include: W-2 Income, Limited Income interest, dividend income, student education expenses, unemployment income, student education credits, student loan interest, claiming the standard deduction, Earned Income Tax Credits, Child Tax Credit, and Child and dependent care expenses. A full list of forms included can be found here: MyFreeTaxes.com/Support
Economic Impact Payment Update
Important changes can be found here. It is not too late if you still need to redeem your stimulus check! The best way to claim a check is through the IRSs website. Click here to visit the Get My Payment tool.
If you arent sure how to get your payment and need help, visit a tax prep site during regular tax prep hours for assistance.
Safe, secure, easy and free tax help.
Keep more of your hard-earned dollars and get free help filing your 2020 taxes.
Through the summer, trained and IRS-certified tax experts will be available to provide safe, secure and 100% online and in-person assistance in filing your taxes. Our experts know all the new tax laws and available credits, including those in the new relief bill, so that they can maximize your return and you can keep more of your money. We can also assist with claiming stimulus check money and the advance child tax credits.
Free tax help is available to everyone, including ITIN holders.
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Is It Safe To File My Taxes Online
Maybe youre nervous about filing your taxes online. Rest assured that at TurboTax, security is built into everything we do. We use multi-factor authentication, data encryption, and data safeguards to make filing your taxes online safe. Learn more about security at TurboTax.
As well as ensuring that weve taken every security precaution in our products, TurboTax Free connects securely with the government through CRAs Auto-fill my return to import your data into your return and submits your electronic return if you file online through the CRAs NETFILE service. For an additional layer of security when you file online, learn about using the CRAs new NETFILE Access Code to authenticate your identity when you submit your taxes this year.
How To Authorize A Representative
You can authorize a representative to get information about your tax matters and give us information on your behalf. We will accept information from and/or provide information to your representative only after we are satisfied that you have authorized us to do so through My Account for Individuals, or go to Representative authorization.
Your authorization will stay in effect until any one of the following situations applies:
- it is cancelled by you or your representative
- it reaches the expiry date you choose
- we receive notification of your death
You or your representative can cancel the consent you gave by telephone or in writing.
If you were the legal representative of a deceased person, see Guide T4011, Preparing Returns for Deceased Persons, to know what documents are required.
Learn more about representatives by going to Representative authorization.
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Tax Payable On Excess Tfsa Amount
You have an excess TFSA amount at any time in a year as soon as the total of all TFSA contributions you made in the year exceeds the total of your TFSA contribution room at the beginning of the year, plus any qualifying portion of a withdrawal made in the year up to that time.
The qualifying portion of the withdrawal is the amount of the withdrawal or the previously determined excess TFSA amount, whichever is less.
For more information, see the definition Qualifying portion of a withdrawal.
Any portion of a withdrawal that does not reduce or remove a previously determined excess TFSA amount is not a qualifying portion of the withdrawal and cannot be used to reduce or remove any future excess TFSA amount that may be created. For more information, see examples 1, 2 and 3 that follows.
If, at any time in a month, you have an excess TFSA amount, you are liable to a tax of 1% on your highest excess TFSA amount in that month. For more information, see example 4 that follows.
Note
If an excess TFSA amount exists in the account as of the date of death of a TFSA holder and there is a successor holder, see Successor holder.
Example 1
In 2020, Joelle begins the year with a TFSA contribution room of $6,000.
Joelle’s contributions and withdrawals for 2020 are the following amounts:
- contribution on April 25 $2,000
- contribution on May 16 $4,000
- withdrawal on June 15 $2,000
- contribution on August 23 $2,000
- withdrawal on September 8 $1,500
Joelle’s tax would be calculated as follows:
2018
Tax Payable On Prohibited Investments
If the TFSA trust acquires a prohibited investment, or if previously acquired property becomes prohibited, the investment will be subject to a special tax equal to 50% of the fair market value of the investment, and the holder must file Form RC243, Tax-Free Savings Account Return.
The tax is refundable in certain circumstances. For more information, see Refund of taxes paid on non-qualified or prohibited investments.
If the prohibited investment ceases to be a prohibited investment while it is held by the TFSA trust, the TFSA trust is considered to have disposed of and immediately re-acquired the property at its FMV.
The holder is also liable for the 100% advantage tax on income earned and capital gains realized on prohibited investments.
The 100% advantage tax applies to income earned, and the portion of any realized capital gain that accrued, regardless of when the prohibited investment generating the income or gain was acquired.
Note
If an investment is both a non-qualified investment and a prohibited investment, it is treated as a prohibited investment only.
For more information, see Income Tax Folio S3-F10-C2, Prohibited Investments RRSPs, RESPs, RRIFs, RDSPs and TFSAs.
Tax payable on non-qualified investments
Each person who is a holder is also liable for the 100% advantage tax on specified non-qualified investment income if this income is not withdrawn promptly.
Note
Refund of taxes paid on non-qualified or prohibited investments
Note
How to claim a refund
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How Do We Receive Your Tfsa Information
If you disagree with any of the information on your TFSA Room Statement, or TFSA Transaction Summary, such as dates or amounts of contributions or withdrawals which your TFSA issuer has provided to us, contact your TFSA issuer. If any information initially provided by the issuer about your account is incorrect, the issuer must send us a revised record so that we can update our records.
You can view your TFSA Transaction Summary online. Go to My Account for Individuals to see all the contributions and withdrawals made to your TFSA.
Who Is Eligible For Irs Free File
IRS Free File is a partnership between the IRS and a nonprofit organization called the Free File Alliance. IRS Free File provides access to free tax preparation software from 10 tax-prep companies, including major brands. You must have less than $72,000 of adjusted gross income to qualify for IRS Free File . IRS Free File providers include big names such as Intuit , TaxAct, and TaxSlayer.
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What Are Other Free Resources That Are Available For Me
You can explore a few different options:
- Free Virtual Tax Prep with our Tax Experts: Have your taxes prepared virtually by our Free Tax Preparation expert team. Scroll down this page to see more information on the org option.
- Online filing: you can find additional free filing tools via IRS Free File programs. Visit gov/FreeFile for more information and details.
Free Tax Return Help For Eligible Taxpayers
Find out if you qualify for the following free tax return preparation services:
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Volunteer Income Tax Assistance – VITA offers free tax help to people who generally make $57,000 or less, people with disabilities, and taxpayers with limited English. IRS-certified volunteers explain tax credits and prepare a basic tax return with electronic filing.
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Tax Counseling for the Elderly – TCE focuses on questions about pensions and retirement-related issues. It offers free tax help to all taxpayers, particularly to those who are 60 years old or older.
Due to the COVID-19 pandemic, many VITA and TCE offices are closed. Use the VITA/TCE locator tool to find an open office near you. To learn more about the services of VITA and TCE and what you should bring to your appointment, use the VITA/TCE checklist.
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When Are Taxes Due
The IRS began accepting 2020 income tax returns on Feb. 12. The deadline for those returns is on May 17 this year.
The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.
Here’s How Free File Works:
Most companies provide a special offer for active duty military personnel who earned $69,000 or less. Those taxpayers can choose from any participating Free File provider regardless of the company’s other eligibility standards. Free File also can be a valuable tool for younger taxpayers or first-time filers with modest incomes as well as retirees and working families seeking to save money.
Free File providers also offer state tax return preparation, some for free and some for a fee. Again, use the “look up” tool to find the right product. There are two products in Spanish. With Free File, you can even use any digital device, personal computer, tablet or smart phone. Free File products are mobile enabled so you can do your taxes on your smart phone or tablet and e-File with your hand-held device.
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Transfers From Your Rrsp
If you transfer an investment from your RRSP to your TFSA, you will be considered to have withdrawn the investment from the RRSP at its FMV. That amount will be reported as an RRSP withdrawal and must be included in your income in that year. You can claim the tax withheld on the withdrawal at line 43700 of your Income Tax and Benefit Return. If the transfer into your TFSA takes place immediately, the same value will be used as the amount of the contribution to the TFSA. If the contribution to the TFSA is deferred, the amount of the contribution will be the FMV of the investment at the time of that contribution.
Except in certain circumstances, you cannot exchange securities for cash, or other securities of equal value, between your accounts, either between two registered accounts or between a registered and a non-registered account .
How To File Your Federal Tax Return For Free
In the past, I have gone to the IRS free file webpage, because they have links to a bunch of tax preparers that offer free tax return filing . Some of them offer a state return to be filed for free as well, but most dont.
If you are interested in this option, you will have to use the links on the IRS page in order to get the free efile deal they are offering. Many of the tax preparation websites listed will not offer you the free efile if you go directly to their website.
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Transfers Upon Breakdown Of Marriage Or Common
When there is a breakdown in a marriage or common-law partnership, an amount can be transferred directly from one individual’s TFSA to the other’s TFSA without affecting either individual’s contribution room. The transfer must be completed directly between the TFSAs by the issuer.
If you are in this situation, you must meet both of the following conditions:
- you and your current or former spouse or common-law partner were living separate and apart at the time of the transfer
- you are entitled to receive, or required to pay, the amount under a decree, order, or judgment of a court, or under a written separation agreement to settle rights arising out of your relationship on or after the breakdown of your relationship
When these conditions are met, the transfer is a qualifying transfer and will not reduce the recipient’s eligible TFSA contribution room. Since this transfer is not considered a withdrawal, the transferred amount will not be added back to the transferor’s contribution room at the beginning of the following year.
Also, the transfer will not remove any excess TFSA amount, if applicable, in the payer’s TFSA.
Note
If, instead of choosing to have the amount directly transferred, an individual chooses to receive the settlement amount before deciding to contribute part or all of it to their own TFSA, then any such contribution is considered as a regular contribution that reduces the balance of their TFSA contribution room.
Types Of Tax Credits And Benefits
There are two types of tax credits:
Benefits can help with various living expenses, such as raising children, housing, loss of income and medical expenses.
Read the Canada Revenue Agencys General Income Tax and Benefit Guide and Forms Book to learn more about which tax credits you can claim.
With the Ontario Child Care Tax Credit, you could get back up to 75% of your eligible child care expenses. It applies to eligible child care options, including care in centres, homes and camps.
The Low-Income Workers Tax Credit provides up to $850 each year in Ontario personal income tax relief to low-income workers, including those earning minimum wage.
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What Are The Limitations To Services
Many returns that are typically in-scope and free at our in-person tax sites, are not all included in the free software, for example, Self-Employment income , Mortgage Interest, Real Estate Taxes, other Itemized Deductions, Third-Party Payments , HSA, and many others. If you have these tax forms, you will have to purchase an upgrade to file with this system. However, you will receive a discount if using MyFreeTaxes.com. A full list of what is included in the free software can be found at MyFreeTaxes.com/Support
