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H&R Block Still Bows To The Expertise Of TurboTax

There is a simple reality that people seek from tax preparation software. You want to be sure you are getting the maximum tax refund with the easiest time doing so, but not having to hire someone or be a tax expert in order to do so. Until only a few years ago people would pay around 250 dollars to have someone prepare their taxes, which would take them less than an hour. I then discovered that these professionals use the same software that I can use online. The days of using tax preparers became numbered in my opinion, as I stopped using them. While you may still need to use a preparer depending on what deductions you have to write off and document, you can usually go without this expense nowadays.

There are many wonderful options on the Internet for people to use if you use a Mac or some other type of personal computer. However, H&R Block and Turbo Tax from Intuit are always going to be two of the best, even if they are currently contending. Not only do these tax preparation apps come in many different flavors, they are designed to be easy and quick to use for even the least computer literate person. These tax programs assist you in finding all the information you need to do your taxes with as little fuss as necessary.

Accuracy is definitely something that is the most important factor about doing your taxes. You will not find a more accurate way to do them than with these great tax programs. You simply need to enter your income in the form of a W-2, mortgage interest, college tuition expensives, dividends and interest income and anything else you can deduct. The tax programs then come back with the exact information you need, and better yet, you can use it in the program afterwards to file your own taxes!

The thing to remember with these programs is that they are so sophisticated that you might end up saving more money and getting a larger tax refund than if you went to a professional tax preparer. So, please be sure that when tax season comes around you take advantage of one of these great tax programs. Your bank account will thank you.

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Filing Confusion Faced By U.S. Citizens Living Abroad, June Deadline

Expats wondering about filing and health care requirements, have the opportunity of taking advantage of the expert advice and assistance offered to them by H&R Block, who estimate 1 in 3 expats haven’t filed a 2013 return. They are facing a filing deadline of June 16th this year.

To be of the greatest help to these taxpayers, H&R Block last season launched a remote filing service, and for this tax season, expanding it even more.

Roland Sabates, who is the director of the expat filing services offered by H&R Block has said “U.S. expats may miss many things, but the tax deadline should not be one of them”.

To understand their U.S. tax obligations, there are three questions that expats should be answering:

Are they required to file?
Which foreign assets must they report and how does money in foreign accounts get reported?
What is their responsibility to maintain health insurance, which is new this year?
Know the filing requirements

Regardless of wherever they may be living, for 2013, the minimum income requirements for filing are $10,000 for single filers, and $20,000 for married filers. Some taxpayers possibly can exclude all or some of the income earned abroad, which might offset taxes owed the United States.

Those working abroad unable to file by June 16th can file an extension moving their deadline to October 15th. They should know that on any balance from the filing deadline April 15th, interest will accrue.

Know the rules and regulations regarding the reporting of money in foreign accounts and assets

If at any time during the year an account owned or controlled by a U.S. citizen has a combined value exceeding $10,000, they must file an FBAR which is a foreign bank account reporting form. They must by June 30th submit this form to the Department of Treasury, and also include this info with the next tax return which will be due on June 16th, filing on Form 8938.

Also, by June 16th, taxpayers have to report data regarding ownership interests in foreign businesses and any securities not in any account.

Sabates has said that “it is important all the tax deductions and credits qualified for are claimed by these taxpayers”.

Understand health insurance obligations

For the most part, in 2014, the majority of U.S. citizens will be required to have health insurance. All should carefully check whether or not this applies to them.

Unless an exemption applies, the taxpayer will have to get themselves health insurance.

H&R Block stands ready with offices in over 14 US countries and territories to offer their experienced and excellent services.

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District Court Rules That The TurboTax 2013 Ads Can Continue To Run

District Court Rules That The TurboTax 2013 Ads Can Continue To Run

The recent TurboTax 2013 ads/television commercials focused on the accounting experience of the TurboTax 2013 staff while also pointing out the lack of experience of tax preparers from other major tax preparation companies. These ads sought to undermine the credibility of tax professionals from other companies by claiming that these professionals worked in plumbing and retail jobs outside of tax season. An outraged H&R Block went to court over the issue. They made several valid points about the ads, but ultimately, the district court ruled in favor of allowing the TurboTax 2013 ads to continue to air.

TurboTax 2013 Ads

2011_02_12 (Photo credit: DennisSylvesterHurd)

The United States District Court for the Western District of Missouri ruled on the advertising case, and the court decided that the adverts were legal. H&R Block was not mentioned in any of the Intuit TurboTax 2013 ads but they are the company’s biggest competitor. However, it was implied within the ad that they were focused on H&R Block preparers as well as a couple other popular tax preparation store’s employees. When arguing against the advertisements, H&R Block made claim that the TV ads were unfair, and they presented a number of points around that issue.

The ads claimed that the employees of major tax companies only worked in the accounting industry during tax season, and they claimed that these professionals worked in other industries during the rest of the year. In fact, H&R Block does hire tax professionals who also work in outside industries throughout the year, but they train these individuals to prepare, sign, and file taxes to a great degree. Many of the professionals who work there are not accountants.

In spite of the fact that a number of the ad’s claims were true, H&R Block stated that the ads undermined people who work two jobs during the year, and that the ads sought to diminish the intelligence of people who work in the plumbing and retail industries. The tax preparer further claimed that the ads understated the reality of how much experience most of their employees have. According to the tax giant, the average person who has their taxes filed by H&R Block gets to work with a professional who has ten years of experience in the industry.

The TurboTax 2013 ads created pictures of tax professionals who were under-trained, underprepared, and under experienced. At the same time, these ads highlighted the experience of the TurboTax 2013 staff. Their staff, TurboTax claimed, were all certified accounts with years of experience. In retort, H&R Block pointed out that Intuit TurboTax had never actually prepared a single tax return while they had prepared millions face-to-face over the last sixty years of their history.

Ultimately, this was a battle between a tax preparation company and a tax software company. As people change how they approach taxes, more battles like this may occur. However, the district court ruled that the TurboTax 2013 ads were not harmful to H&R Block in any way that was illegal, and thus, tax payers may see more ads like this in the future.

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Tax Preparation Reviews

Tax Preparation Reviews

TurboTax has always been very popular and a best selling tax preparation product. Clients continue to use TurboTax every year as it is easy to use. The reasons are very obvious; Turbo Tax directs you through the entire process step by step with frequent popup and assistance tips easing the process for you at your own ease and pace. One can work on the return any time during day or night, and also do it in go, or come back and continue after a few minutes here or there.

Tax Preparation Reviews

Tax (Photo credit: 401(K) 2012)

H&R Block is another leading and top selling product in tax preparation; that has built its own reputation on popularity, reliability and simplicity. Thousands of people use H&R Block to prepare their State and Federal tax returns each year as they trust the professionals. Some features include Tax Tips, along with a great knowledge center that offers useful information on how to increase your tax refund. A free Tax Calculator and a Tax Estimator for various purposes helping you to compute your tax figures easily. Online help from the H&R Block professionals is at your fingertips at any point of time, and uncomplicated forms with step by step assistance ease you through the tax return process.

TaxSimple is yet another tax return software that has constantly served the very financial industry. Their aim has always been to offer world-class tax return software services and solutions to meet all the income tax requirements. Each and every TaxSimple package represents an exclusive approach of managing financial data and tax with an utmost level of productivity.

CompleteTax is also a quick and simple way to prepare your taxes online. Developed typically for do-it-yourself taxpayer, it is one of the Internet-based programs that prepare both federal as well as home state income tax returns for you, with free e-filing.

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