TurboTax #1 Rated Tax Software: Now Accepting E-Files

Did you hear?!? You can now prepare and e-file your tax returns(effective January 5th) with TurboTax, the #1 rated do-it-yourself tax software, when you use TurboTax online.

TurboTax e-file

TurboTax e-file

Not only that, TurboTax now offers free, one-on-one tax advice from highly qualified CPAs, IRS Enrolled Agents, and tax attorneys!  So, not only can you take control over your own taxes, pay less to file your taxes than with tax stores, but you can also feel confident that a highly qualified tax professional is there to assist you if you need help.  Oh and did I mention?  There is no e-file fee!  It is also free!

You may be wondering:

How can TurboTax offer e-filing early if the IRS is not accepting tax returns yet?

TurboTax will securely transmit your tax information electronically to the IRS as soon as they begin accepting tax returns on January 17th!  You may benefit from an early tax refund, because as soon as the IRS starts accepting tax returns and sends you confirmation that they accepted your return, per the IRS, you may receive your tax refund in as little as 7 days from IRS acceptance if you request direct deposit.  If your tax return is rejected after it is electronically transmitted to the IRS, no need to worry.  The IRS will send you notification and you can fix your online tax return and resubmit it.

The IRS supports TurboTax and prefers that you e-file your tax return.  TurboTax protects your personal information using bank-level data security which includes encryption.  TurboTax online stores your information on a firewall-protected server, which can only be accessed using your user name and password.

How do I file my tax returns if I did not receive my W-2 or 1099s yet?

Don’t worry!  Did you know that TurboTax works with 400,000 employers, banks, and financial institutions so that you can safely, securely, and accurately transfer your important financial information directly from the financial institution to your tax return using TurboTax online.

What are the benefits of E-filing and using TurboTax early?
  • Quick Tax Refund – Per the IRS, taxpayers who e-file their tax returns with direct deposit will receive their tax refund in 7 to 15 days from IRS acceptance of the tax return as opposed to 6 to 8 weeks for paper filers.
  • More Accurate Tax Returns -  According to the IRS, 20% of paper filed tax returns have mistakes as opposed to a low 1% error rate for electronically filed returns.  TurboTax easily guides you to enter all of your relevant tax information so that your tax return is accurate.
  • Free Tax Advice – If you file your tax return early with TurboTax online, not only do you get free e-file, you also have the opportunity to get free one-on-one tax advice from highly qualified CPAs,  IRS Enrolled Agents, and tax attorneys.
  • Bigger Tax Refunds – Preparing your tax return using TurboTax will get you the tax deductions and credits you deserve.  TurboTax guides you through tax deductions and credits you may miss if you file your tax return via a paper and pencil.  TurboTax software is developed in compliance with IRS tax guidelines so your taxes are done right.
  • Filing at the Last Minute May Lead to Mistakes – Completing your taxes at 11:59 pm on  4/17/2012 may cause you to rush and make mistakes.
What if I didn’t make very much money?
  • Even if you think you didn’t make enough money to file, you may be entitled to a refund, due to taxes deducted from your paycheck and various overlooked refundable tax credits and deductions you are entitled to.  Most unclaimed refunds, belong to people who did not make much money and thought they were not required to file taxes.

Start the New Year off right and get your taxes done early!  You’ll feel at ease and have fatter pockets!

TurboTaxLisa

Lisa Lewis is a CPA and the TurboTax Blog Editor. Lisa has 15 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. Lisa also has been a TurboTax product user for many years and understands how the software program works. In addition to extensive tax experience, Lisa also has a very well-rounded professional background. She has held positions as a public auditor, controller, and operations manager. Prior to becoming the TurboTax Blog Editor, she was a Technical Writer for the TurboTax Consumer Group and worked on a project to write new FAQs to help customers better understand tax laws. She could also be seen helping TurboTax customers with tax questions during Lifeline. For Lisa, getting timely and accurate information out to customers to help them is paramount.

Comments (11) Leave your comment

  1. Thanks for this post.Very important and timely article. Information provided is concise and informative. Keep up the great work!

    • Thank you. We are glad you enjoyed the post. Check back for more informative topics.

      Thank you,
      Lisa Greene-Lewis

  2. I think 2 Peter 2:3 would btteer describe the emergent church making merchandise of the people.Great article as always!

  3. I’m having trouble with an error 42002 & tried various suggestion you have posted, and to no avail… I can’t seem to be able to update the federal & download the State. In the 15+ years I’ve been using TT, I’ve never had such trouble.

    • Hi Keisha,
      Sorry for the misunderstanding, but our support site as well as the blog explained that “we will be accepting tax returns beginning January 5th, and will hold them until the IRS begins accepting e-file on January 17th. Once your tax return is electronically transmitted on January 17th you should receive a confirmation per the IRS within 48 hours.
      See our blog http://blog.turbotax.intuit.com/2012/01/05/turbotax-1-rated-tax-software-now-accepting-e-files/
      Please note, the IRS has just started accepting e-files and the 48 hour time frame is their estimate.
      You should receive notification whether your tax return was accepted from the IRS soon.
      Thank you!
      Lisa Greene-Lewis

    • –They will never call a tax icarense a tax icarense. Instead, you hear things like "icarense revenues," close "loopholes" and a whole host of Orwellian slight of tongue.–I don't think that's Demo-speak nor Lib-speak. It's politician-speak, related linguistically to both lawyer-babble and PR-Spinmeistering.

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