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1040.com is an easy-to-use online tax preparation service that is powered by Drake Software, 1040.com's parent company. Although it doesn't provide all the bells and whistles other companies offer, it's easy to use and has competitive fees.
This company has been making professional-grade income tax software since 1977 when the first microprocessors were developed.
How Does 1040.com Work?
The 1040.com has a three step process for preparing taxes. Step 1 is an interview where you get to answer questions about your finances, work, and family situation. This information is used to calculate all your deductions and tax credits. Once your federal taxes are finished, comes Step 2: state taxes. This step is fast because all the information you provided in step 1 is transferred and applied to your state return. In Step 3, you and the program give your tax return a second look to make sure you have the maximum refund you're allowed.
Unlike many online tax preparation companies, 1040.com offers access to a team of experts online or over the phone who are trained to answer your tax questions.
What Are the Charges and Payment Options for 1040.com Simple Free?
1040.com has a three-tier pricing system.
Tier 1 is free for federal returns. State returns cost $9.95. It applies to taxpayers with a simple tax situation, such as single or married people with no children who earn $100,000 or less and don't own a business.
Tier 2 costs $19.95 and is designed for people with kids, investments, college, and other deductions. Filing your state return will cost $14.95 more.
Tier 3 costs $39.95, $19.95 more for state. This option is best for taxpayers who earn more than $100,000, declare itemized deductions, such as property taxes, charitable donations, and mortgage interest, and who are self-employed or have less common sources of income.
- 1040.com provides a fast and simple to use tax preparation and filing service.
- As with most tax preparation companies, your federal data is used to automatically complete your state tax return.
- Your data is encrypted and verified by TRUSTe to protect your privacy.
- If you choose a service that isn't free, you have the option of paying for it with your tax refund for a fee.
- 1040.com provides access to a team of live experts based in the U.S. who are ready to answer your tax questions.