FreeTax.com is a tax prep software program owned by Liberty Tax, and traditionally it’s been one of many few firms that might legitimately declare free tax submitting for all customers.

Nevertheless, the “Free” a part of FreeTax.com is in jeopardy this 12 months. Whereas customers can put together their returns at no cost, they need to pay for e-filing. Given this wrinkle, most customers can discover higher software program at comparable worth factors.

Right here’s what that you must learn about FreeTax.com this 12 months. Additionally, ensure you examine our full record of the Finest Tax Software program.

Editors Word: FreeTax.com isn’t any extra. Dad or mum firm Liberty Tax has shut down its FreeTax.com model for the 2023 tax 12 months (2024). FreeTax.com was certainly one of our lowest-rated tax submitting options, so it will not be missed by many. If you’re have used FreeTax.com previously, we suggest visiting Liberty Tax as an alternative, and even higher, try our record of the finest tax software program for 2024. 

FreeTax.com- Is It Actually Free?

FreeTax.com permits customers to arrange and print their taxes at no cost. Nevertheless, they cost $19.95 to E-File in case you settle for your refund on a pay as you go debit card. Those that need their refund examine one other means must pay $39.95 to e-file.

What’s New In 2023?

Final 12 months, FreeTax.com, a model owned by Liberty Tax relaunched it as a free tax web site. The FreeTax.com web site makes use of the identical software program as LibertyTax, eSmartTax, and several other different main tax websites together with 1040.com.

Nevertheless, not like previous years, free accommodates an asterisk. The corporate helps free state and federal tax type preparation. Customers can then print out their varieties and mail them in. To e-file, customers need to pay $19.95 (or $14.95 if they may settle for their refund on a pay as you go debit card).

Does FreeTax Make Tax Submitting Simple In 2023?

FreeTax.com works nicely for folks with fundamental tax conditions. It might probably simply deal with W-2 earnings, curiosity, dividends, and main deductions and credit. Even folks with fundamental self-employment can use the software program efficiently.

Nevertheless, FreeTax.com is just not designed for advanced tax conditions. Energetic inventory or crypto merchants may spend hours keying in every transaction manually.

Landlords have to make use of the search operate to seek out depreciation worksheets.

As customers work by way of the software program, the software program presents little suggestions that may assist customers work out whether or not they’re coming into their info appropriately. A person who miskeys info may dramatically alter their tax info resulting from a easy and avoidable mistake.

Total, FreeTax.com simplifies tax submitting for some customers, however folks with extra advanced tax conditions ought to keep away from it.

FreeTax Options

Whereas FreeTax.com doesn’t have excellent software program, there are a couple of options that make it compelling.

Put together Tax Returns For Free

FreeTax.com permits customers to arrange and print their state and federal tax returns at no cost.

Free Multi-State Submitting

FreeTax.com permits customers to file taxes in a number of states. It’s the solely free tax software program that helps multi-state submitting this 12 months. This can be a notable disadvantage from different free software program like Money App Taxes.

Associated:
Do I Have To File Taxes In A number of States?

Guided Naviation

FreeTax.com customers can simply discover their means by way of the software program by answering questions. Based mostly on a person’s solutions to the questions, the software program leads customers to enter info from related tax varieties. Nevertheless, customers with extra advanced earnings (investments, actual property, self-employment) should choose their earnings from the menu earlier than receiving extra steering from the software program.

FreeTax Drawbacks

These are a couple of areas the place FreeTax.com fails to impress this 12 months.

No Choice To Import Types

Customers can’t import tax varieties resembling W-2 varieties or 1099 varieties. All tax info should be manually transferred to the FreeTax.com software program. This will increase the period of time that customers need to spend on tax prep. Nevertheless, no cut price software program presents import choices this 12 months.

Laborious To Use For Complicated Revenue Sources

Determining learn how to depreciate bills is a large ache within the software program. It’s extraordinarily tough for landlords and self-employed folks to make use of FreeTax.com to arrange their taxes.

No Part Summaries

A number of firms provide part summaries that assist customers work out whether or not they’ve entered all the required info. With out part summaries, FreeTax.com leaves customers guessing about whether or not they’re utilizing the software program appropriately.

FreeTax.com Value And Plans

Whereas all customers can put together their taxes at no cost, FreeTax.com fees for e-filing a return. The small print of the e-filing prices are laid out beneath.

How Does FreeTax Evaluate To The Competitors?

FreeTax.com permits customers to arrange and print their tax varieties at no cost, however they need to pay for e-filing. The opposite firms embrace e-filing with the software program.

To pretty evaluate FreeTax.com, we’ve included a particular line to match the price of e-filing. We’ve in contrast it to different cut price software program together with Money App Taxes (free) and TaxHawk. We additionally added 1040.com as a result of it makes use of the identical software program below the hood. From a person expertise standpoint, we choose Money App Taxes and TaxHawk over FreeTax.com

Is It Secure And Safe?

FreeTax.com makes use of each encryption and multi-factor authentication to maintain person info secure. It holds up the business requirements which can be normal for tax submitting firms.

Though the software program is free to make use of, customers can really feel assured that FreeTax.com and its mother or father firm, Liberty Tax are more likely to maintain person info secure. 

Nevertheless, no firm can assure info security. Any info transmitted on-line may very well be hacked, so customers ought to rigorously consider the dangers earlier than transferring ahead with any tax submitting firm.

Closing Ideas

FreeTax.com is an appropriate software program for filers with easy tax returns. It isn’t ideally suited for folks with advanced earnings resembling inventory or crypto trades or landlords. Nevertheless, FreeTax.com isn’t actually free in 2023. The price of E-Submitting makes it dearer than cut price software program like FreeTaxUSA or Money App Taxes. 

If you wish to put together and print your information, FreeTax.com may very well be choice, however most others ought to overlook it this 12 months. Plus, bear in mind, in case you print and mail your tax return, you can be ready months to your tax refund.

FreeTax FAQ

Let’s reply a couple of of the most typical questions that folks ask about FreeTax.com.

Can FreeTax.com assist me file my crypto investments?

Whereas FreeTax.com helps crypto investments, customers will discover the interface cumbersome. The software program requires customers to manually enter every transaction individually in an extended, cumbersome type.

I didn’t obtain the complete quantity for Superior Baby Tax Credit score Funds, can FreeTax.com assist me get the remaining?

FreeTax.com guides customers by way of questions that assist them declare the right amount for the kid tax credit score. Mother and father who did not obtain the advance funds will obtain the steadiness of the credit score of their refund.

Can FreeTax.com assist me with state submitting in a number of states?

FreeTax.com helps multi-state submitting on all tiers. Customers don’t need to pay additional for submitting in a number of states.

Will FreeTax.com maintain my info secure?

FreeTax.com has not suffered from safety breaches previously, and it has strong safety in place to maintain person info secure. Nevertheless, the corporate is predicated on-line and it can’t assure the security of person info. Customers should consider their willingness to tackle this danger earlier than utilizing the software program.

Does FreeTax.com provide refund advance loans?

In 2023, FreeTax.com doesn’t provide refund advance loans.