However, each program is distinct enough to warrant close examination on the merits. TurboTax and H&R Block are especially close cousins, offering tax prep assistance from human experts for users who want it. TaxAct, TurboTax, and H&R Block have many features and capabilities in common. However, the time and expense of preparing with each service vary considerably. With these three programs, my federal and state tax liabilities have always been identical across the board. That means each service waives your prep fees if you can prove another program produces a higher tax liability or lower refund on an identical tax situation. TurboTax, H&R Block, and TaxAct all have a maximum refund-minimum tax liability guarantee. Accounting for quarterly estimated tax payments made throughout the year.Schedule C (profit or loss from a business, including the home office deduction).Schedule B (interest and ordinary dividends).Using the married-filing-separately option. Though it’s a bit more complicated than my actual tax situation, it allows me to explore each platform in greater depth than I otherwise would. For example, during the 2014 tax year, I moved across state lines, forcing me to file two state tax returns.įor the 2020 tax year, I used the same mock tax situation for all three programs to ensure an apples-to-apples comparison. As my tax situation has changed, so have my experiences. I’ve done my own taxes and run this comparison for several years in a row. Online Tax Preparation Software Evaluation Method But there are differences.īefore choosing one, learn how TurboTax, TaxAct, and H&R Block stack up - and what’s new for the 2020 tax year. That can make it challenging to differentiate among them at a glance. That’s because I’ve spent some time evaluating the most popular online tax preparation software available to filers in the United States, including TurboTax, TaxAct, and H&R Block.Īll three have a similar set of core features and capabilities, including the ability to e-file. In recent years, it’s taken me much longer than I’d like to complete and e-file my state and federal income tax returns.
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