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We all dread having to prepare tax returns. While this process is doable, it can be tedious to organize the paperwork and read all the instructions on the form. Also, if you’re in a complicated situation, it can be confusing to make sure you’ve done all the right things when submitting. Cash App Taxes aims to ease the pain of tax preparation…for free.
That’s right: free tax preparation. Here’s what you should know:
cost – 10
Customer Service – 7
Ease of use – 9
Tools and Resources – 9.5
Imports of the previous year – 10
Mobile App Usability – 9
9
If you need basic credit reporting, we believe Cash App tax is the best option. 100% free and easy to use. There’s also a mobile app version that lets you import last year’s returns, regardless of what services you’ve used in the past.
What is Cash App Tax?
Many of us know Cash App for its peer-to-peer payment products, including the ability to send and receive money instantly, buy crypto, invest in stocks, and more. However, in 2020 Cash App acquired Credit Karma Tax and gave the service a new name. Cash App Taxes.
cash app tax Easy to start filing. After answering a few questions about your situation, the app will help you understand your filing status and decide which approach to take for your taxes. Each section has tips to help you understand what’s going on, so you can be confident that you’re doing your tax preparations right.
We can also prepare state tax returns For free I use Cash App Taxes. This is helpful as many other tax preparation providers charge an additional fee to make your state returns.
>>Reference: Credit Score Monitoring Site
Who is Cash App Tax suitable for?
Cash App Tax Tax Preparation can work for most tax situations More than just a simple tax return using only W-2 and Form 1040 must include other sources of income, additional deductions, or sales of investments, property, or goods (to name a few) Includes complex returns. Cash App Taxes can cater to various filers for free.
People with highly complex and unusual tax situations, such as those who lived in multiple states during the tax year, had income abroad, or had income to report from trusts, can benefit from Cash App Taxes. cannot be used as intended.
Cash App Taxes also lacks the options offered by other providers, such as partial filing assistance, full preparation, and tax software download products. For filers who want more customer support, turbo tax, tax law, tax slayerand H&R Block may be a better choice.
Before deciding to use Cash App’s tax preparation services, carefully consider your tax situation and what is best for you.
Cash App Taxes Prep Features
Free version
Simplified tax return only |
|
Import function | |
Small business features | |
Investor characteristics | |
Includes audit assistance | |
refund tracking | |
Accuracy guarantee | Up to $1,000 Refund with Gift Card |
filing support | Online Help Center, Email |
- easy import — Skip the onboarding step by importing your previous tax information. Cash App Taxes is TaxAct, H&R Block, and turbo taxso you can prepopulate your current tax return by simply importing the 1040 from these software applications.
- mobile filing — Use your mobile device to complete your entire tax return. You can use your phone’s camera to take pictures of important documents, all in the palm of your hand.
- tax return review — When you’re done, Cash App Taxes automatically sends you back to any sections you didn’t fill out properly or present red flags. Cash App Taxes checks and re-checks your tax return before you submit it, which reduces the chances of making mistakes.
Cash App Taxes Plans and Pricing
Using Cash App’s tax preparation service is completely free. You’ll need to sign up for a Cash App account, but you don’t have to provide a credit card to do so. You’re eligible for credit cards, loans, and other offers (Cash App Taxes profit from these referrals), but you don’t have to pay upfront.
Cash App Taxes Maximum Money Back Guarantee promises a refund of up to $100 if you receive a larger refund with another service, and audit defense is free for all eligible filers. consulting and review by and dealing with the IRS on your behalf.
Cash App is free, so there are no plans or service tiers. This is very different from how other tax software providers operate. Whether you choose online plans, software downloads, or services that typically include professional support, you’ll typically pay more or less depending on the tier you choose. includes a federal tax return in the base price, with an additional charge for each state form you need to complete. Many providers have free plans, but these are usually the simplest returns Intended only for
>Situation supported
Cash App Taxes supports different types of tax filing situations with the same service. Rather than listing all possible situations that might work here, I’ll summarize the main formats supported here.
- W-2s
- All 1040 except PR and NR
- All 1099 including 1099-NEC
- Schedules 1, 2 and 3
- Schedules A-F
- 1098-C, E, and T
Cash App Taxes allows you to itemize your deductions. Reports investment income, including income from rental properties. Deduct child support and business expenses. Claim mortgage interest, student loans, and childcare credit. This probably covers the needs of many taxpayers.
> unsupported situations
But really, it’s easier to cut directly into any situation in Cash App won’t These are mostly specific situations and will not apply to the majority of our readers. Here are some things you can’t do with Cash App Taxes:
- File multiple state tax returns
- Report income earned in other countries
- Reporting Schedule K-1 Income from Real Estate and Trusts
- 1040NR and PR
There are also some deductions that cannot be obtained using this service, such as the Health Compensation Tax Credit, Form 3800 General Business Credit, and EIC for non-dependents.
Basically, this service is not suitable for people with foreign currency income, filers who need to file multiple state returns, or people with trusts.
Tax refund option
You can get your tax refund in the following ways:
- direct deposit
- paper check
Registration method
You must be a Cash App member to use our tax preparation services. Signing up is fairly easy. Use your email address as your sign-in, set a password, and provide other information such as:
- name
- address
- date of birth
- Last 4 digits of social security number
You will also have to answer questions about loans and other items to verify your identity.After creating an account, in the navigation menu[Tax]You can choose an option to start the process of filing your tax return.
You can submit from your mobile device or online platform.
Synchronization
Even if you don’t sync your bank accounts, you can use other software to populate your tax forms. You can capture TurboTax, TaxAct, and H&R Block forms and import the information into Cash App Taxes. Additionally, employer identification numbers can be used to import salary information from ADP and Experian.
You can enter your bank information on your tax return to have your tax refunds deposited directly into your account if you prefer.
Cash App Tax Pros and Cons
> Pros
- Completely free. You don’t have to pay anything when you use Cash App Taxes to file your state and federal tax returns.
- Provides audit defense. If you’re audited, get help for free. Many platforms only offer audit assistance. This may include expert review, but does not include hands-on support like Cash App Taxes.
- user friendly. Cash App’s tax prep is easy to use and has a clean interface. Plus, you’ll get help along the way.
- Complete mobile tax filing. With everything fully accessible from your phone, you can easily file your taxes on your own terms.
- Import from other tax preparation software. You can quickly and easily import your previous information so you can start filing right away.
>Cons
- Not all forms are availableMost tax situations can be handled by Cash App Taxes, but not all. Some critical situations, such as multiple state returns, cannot be completed with this software. Some trust forms are not available and Cash App Taxes cannot process foreign tax credits.
- You must sign up for Cash App. You may not want to sign up for Cash App Taxes and be bombarded with offers and other items.
- customer support. Cash App does not provide dedicated tax support, so if you need help, you should use Cash App’s general customer service.
- Online plan only. The only way to complete your taxes with Cash App Taxes is through our online platform. You can’t download software or pay someone to file it for you.
mobile accessibility
You can complete the entire tax filing process using your dedicated mobile device. Log in to Cash App on your mobile phone and[税]Simply go to the section and start filing. From there, follow the prompts to import your tax documents and fill out the required forms.
customer service
Cash App Taxes has an online help center that includes a section on tax preparation. It is searchable and helps answer questions about the process. You can also get member support by email or phone. However, you will be on the same customer support path as anyone else using Cash App.
Unfortunately, Cash App Taxes offers nothing. Own Dedicated Supportso you If you have any questions, you should be prepared to file your own or enlist the help of a third-party tax expert.Additionally, keep in mind that you may not get as much tax assistance as you would for a company that is fully dedicated to tax preparation.