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Monday, February 10th
H&R Block is one of the more costly tax preparation services in our review, offering flexible options for both filing for yourself and getting expert help from an H&R Block professional to prepare and file your return for you. With its longstanding reputation in the industry, you might expect it to be a popular choice. However, customers rated the company just 1.3 stars out of 5 due to issues with customer service and overcharging for the pro services. For this reason, (and in the interest of saving you stress during tax season), H&R Block falls near the bottom of the tax prep pack.
Turbotax is a well-known name in tax preparation, offering a range of filing options to help you every step or let you do the entire thing yourself. While it's easy to use and packed with helpful tools, Turbotax's pricing can get costly very quickly. With mixed reviews highlighting both its user-friendly platform and also complaints about customer service, Turbotax is a middle-ground tax prep choice that offers solid support for basic returns but may not be the best value if you need more dedicated assistance.
Let's face it: tax season is nobody's favorite time of the year. Whether you're a W-2 employee or an independent contractor, taxes are a source of stress every spring. But, it doesn't have to be that way. Tax preparation services are there to ease the process (and are particularly helpful if you own your own business).
So, what do tax preparation services actually do? Most services offer planning to understand your tax situation and filing. You may receive preparation of your actual return, or advice on different aspects of your taxes like individual tax returns, estate tax planning, personal financial planning, deductions, property tax assessments, tax credit reviews, and more. The tax advisor (individual or website) can make taxes make sense and help you avoid many of the pitfalls.
A few years ago, the IRS (Internal Revenue Service) estimated that there were around 1.2 million paid tax preparers available in the US. Tax preparation can be completed by a range of licensed agents, accountants, or businesses who can take the weight of tax season off your shoulders.
The most important thing about finding a tax preparation service is to make sure you work with one you trust. The three best professional credentials to look for include Enrolled Agents (or entities), who are licensed directly by the IRS and must pass an examination to demonstrate their understanding of federal tax planning, individual and business taxes, and representing you properly; Certified Public Accountants (CPAs) who have studied finance at a university and passed charter exams and requirements for accounting; and, Attorneys who are licensed by state courts and have passed a bar exam in financial law.
Now, keep in mind, there will be fees for using most tax preparation services, but these will be minimal compared to the high fines and charges from the IRS if you make a mistake on your return. For even small errors on your taxes, you could be looking at thousands of dollars in fines. A one-time fee for a tax preparation service is no sweat in comparison. Most tax preparation and filing costs between $30 to $500 (though some really comprehensive services cost more), so you'll want to make sure you know what you need before you start.
If you're ready to simplify tax season, but don't know which service to choose, we've put together some factors that can help you find the best tax preparation service for your financial situation:
To help you find the best service to get your return filed this tax season, Top Consumer Reviews has researched and ranked the top tax preparation services out there today. Take the stress out of tax season and hand the nitty-gritty details over to an expert (or enjoy a guided DIY approach that is as simple as a step-by-step guide). After that, you just need to sit back, relax, and wait for those lovely tax returns!
Select any 2 Tax Preparation Services to compare them head to head