If you’re ever unsure about how to answer a question or whether it applies to you, click on one of the many informational links (ⓘ) peppered throughout the interview forms and a pop-up screen will have more information. Like many other DIY tax filing companies, TaxAct makes filing a return relatively simple by leading you through a series of interview-style questions. TaxAct charges customers $17.99 to have their fees deducted from their refund, but a separate fee charged by Republic Bank can drive up the cost. According to TaxAct’s website, the company charges customers $17.99 to have their fee deducted from their refund, but Republic Bank, TaxAct’s banking partner, charges a separate fee. If you want to pay your filing fee out of your federal refund, TaxAct charges an extra $54.95 for the convenience – significantly more than TurboTax or H&R Block (both of which charge $39). TaxAct puts its low fees for filing federal returns front and center, but the cost goes up considerably if you need to file a state return. If you’re in a rush and just want to finish your return, you could easily overlook the total cost. I also noticed that it highlighted the cost of federal filing, with the total fee including the state return in smaller print below. First, TaxAct lets you get all the way through the tax preparation process before letting you know you don’t qualify for free filing. However, what you’ll pay for the upgrade might not be clear right away. If you add income, deductions, or tax credits not allowed by the version you’re in, the software will let you know you need to upgrade. If you’re not sure which tier applies to your tax situation, you can start with the Free version. That could make TaxAct more expensive for people using the free version or those who need to file returns in several states. For example, H&R Block and TaxSlayer offer free state returns for customers who qualify for the free version, while TaxAct charges $39.95 per return. If you only need to file a federal tax return (or federal plus one state), TaxAct might be an affordable option, but its fees for state returns can be high.
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