Tax Cut

TaxCut is one of the better known of all the software packages. Originally known as Kiplinger's Tax Cut in the 1990s, it is now called H&R Block Tax Cut and is sold with the H&R Block TaxCut guarantee of accuracy. TaxCut 2006 like other versions prior is available as a TaxCut download, TaxCut online, H&R Block TaxCut, or H&R Block TaxCut Premium version, the latter two being in CD format. In addition, the Premium version a TaxCut rebate for one state.

Like other programs of its kind, Tax Cut software takes you through a series of questions related to taxes and at the end, transfers the information to the proper tax forms. The program gives you the option of printing your return for mailing or using TaxCut to e-File your return for $15.95. If you are short on cash, for an additional $24.95, you can have the filing fee deducted from your return. Of course, since that is handled like a loan, it means in reality you are paying $24.95 to borrow $15.95. Of course, if you make under $52,000 and access the online version through the IRS site, your filing fee does not pertain. HR Block TaxCut is one of the vendors contracted to the IRS to offer free e-Filing for those earning under $52,000 a year.

Using TaxCut software is an option for both individual taxpayers as well as businesses. The clear and concise instructions make it impossible to make an error in entry, and since the program does all of your calculations, there is no worry about making an error in calculations. In addition, you have the options to obtain information about tax planning for the next tax year as well as making IRA contributions that can affect your taxable income for the current year. Not all of the tax preparation software programs include this important information, so if that is of concern to you, this program will suit your financial needs well. To save money on the program, look for TaxCut coupon codes on the Internet. These will allow you to obtain discounts on the online version of Tax Cut, but make sure you read the offers because they may pertain to specific features only such as only the e-Filing, or only the download or CD version. TaxCut 2007 will be available in November or December, but final updates will not be available for download until sometime in January. That gives you a chance to review any changes, but you will not be able to use the program until the finally updates from the IRS are finalized.