Tax season has only just begun, but already some goats and heroes have emerged in the lead up to April 15.
Turbo Tax sticks it to loyal customers
Have you heard how Turbo Tax pulled a bait and switch on its loyal customers with degraded software packages? Though the packages have the same names as they did in prior years, they don’t have the same features they used. So you pay for one level for a package only to find out it doesn’t do what you want.
People started doing their taxes with Turbo Tax and then they were getting hit with a notification that they would have to pay more money for the functionality they’d come to trust from Turbo Tax.
Now the company has issued an unqualified apology, but they are not restoring capabilities to the software packages. Instead they are offering a $25 payment that you have to request at TurboTax.com/25back.
Intuit — the company that owns Turbo Tax — played this one dirty and broke trust with customers. Now their name is sullied.
TaxAct is the third big player in tax prep and they’re growing very quickly. People like the interactive nature of the software and it’s much cheaper than competitors. A typical person doing a complicated return will pay $20 or less. So that’s a real deal for people who do their own tax prep.
One thing I always mention this time of year: If you have an adjusted gross income (AGI) or around $60,000, you can use the IRS FreeFile program to get your federal taxes done for free online!
Walmart offers cash in hand for your refund
On the other side of the tax coin, Walmart has a new plan to help the great unbanked this tax season. The nation’s largest retailer knows that many of its customers do not have bank accounts, and they’re the ones who get eaten up with fees on refunds.
So Walmart has a new program that allows a cash pickup of your refund — no paper check needed. You can have your refund go to Walmart and Walmart just gives you the money and there is no fee.
Walmart knows 140-170 million Americans shop their stores weekly, and those people are likely to buy stuff if they have cash in hand!