Tax Cut Software Review, Tax Software Options

H & R Tax Cut Software Review - H&R Block was first established in 1955 by two brothers in Kansas City, Missouri, Henry W. and Richard Bloch who later changed their family name to Block. H&R Block is the foremost tax preparation company in the United States that services over twenty two million customers worldwide through its offices in Canada, Australia, the United Kingdom and, of course, the United States. Today, H & R Block operates its tax business out of 12,500 retail tax offices within the United States, plus 1,400 overseas. H & R Block has also established offices in 1,500 shared locations at Wal-Mart, Sears and a few other major chain stores.

To compete in the highly evolved Internet and digital tax preparation market, H&R Block, the tax preparation mega giant, has developed its Tax Cut Online Tax programs and the Tax Cut software. Tax Cut is offered in six different versions and each bears a different cost.

1. Tax Cut Premium
2. Tax Cut Premium + State
3. Tax Cut Premium + State + E-File
4. Basic + E-File
5. Premium + E-File
6. Premium + State + E-File

The following are some POSITIVE review statements made about Tax Cut and its performance as a tax preparation and filing program:

• Tax Cut works best for the simple tax returns.
• Tax Cut is ideal for tax paying wage earners who are employed by others.
• Tax Cut is great for the self employed tax payers who will appreciate its business assets and depreciation interview. This makes handling of business equipment quite swift and effortless.
• Tax Cut offers an SEP-IRA planning calculator that allows the self employed to readily see how much they can put aside for their retirement plan.
• Tax Cut also makes a tax planning calculator available for estimating taxes and retirement savings.
• Tax Cut provides simple and trouble-free data entry with easy to read screens.
• Tax Cut features audit support. In the event of an Internal Revenue Service (IRS) audit, H&R will defend the tax returns of Tax Cut users.
• With Tax Cut, even complex tax returns can be completed in just less than one hour, from start to finish.
• Tax Cut has the capability of importing data from personal finance software such as Quicken and Microsoft Money.

The following are some NEGATIVE review statements made about Tax Cut and its performance as a tax preparation and filing program:

• It seems that Tax Cut has unwisely removed a very important software feature that catches entry errors.
• Tax Cut does not offer the direct deposit option of a tax refund that many of its competitors do. When available, this feature facilitates quicker tax refunds that are more secure.
• Tax Cut has not incorporated the new split refund feature (IRS Form 8888) into its software program. This new feature lets taxpayers directly deposit their tax refund into as many as three bank or retirement accounts, including Traditional IRA or Roth IRA. When available, this feature also facilitates quicker tax refunds that are more secure.
• Tax Cut has eliminated the “Smart Alert” tax tips from its data entry screens.
• Tax Cut has ceased importing brokerage records from GainsKeeper.
• Tax Cut has not updated all its tax forms yet.
• Tax Cut Online is incompatible with some Web browsers.

There you have the pros and cons of Tax Cut. As you can see, even a Goliath such as H&R Block cannot develop the perfect tax preparation software that will make everyone happy all the time.

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Posted in Tax Preparation & Software