Did you choose to have your TurboTax fee deducted form your federal refund? Avoid the extra $40 fee by paying upfront with a credit/debit card before you file.
That is the service charge of the third party processor who receives the federal tax refund from the IRS, deducts the TurboTax account fees and their service charge. Then deposits the remaining refund into the account requested by the taxpayer.
The first $40 fee is the cost of TurboTax Deluxe. The second $40 fee is for using your refund to pay for your TurboTax fees. This process is called refund processing.
The Refund Processing Service is an option for paying your TurboTax fee by deducting it from your federal tax refund. It's a convenient way to pay for TurboTax if you don't have (or don't want to use) your credit or debit card.
ii. If your TurboTax Online fees aren't quite what you expected, it's likely you upgraded to a more full-featured version, added a state, and/or chose one or more optional services or add-ons.
It sounds like you likely chose to pay your TurboTax fees out of your Federal refund. A bank debit can occur in a couple of situations. Either your Federal refund has been delayed at the IRS for a prolonged period of time, or the IRS has reduced the refund amount to where it no longer covered the TurboTax fees.
60 million hard-working taxpayers can file their simple federal and state taxes for free. You can file with TurboTax Free Edition if you have a simple tax return.
If you have not paid for the online edition you are using, have not filed your tax return or registered the Free edition, then you can clear your return and start over with a lower priced edition. ...
No. TurboTax does not have any hidden fees.
Why was I charged 120$?
It appears you are using Turbo Tax Deluxe, which has a fee for your Federal plus a separate fee for your State. Also if you opted to have your fees deducted from your refund, there is also a fee for this.
TurboTax does not charge a fee for the direct deposit option of your income tax refunds.
You can deduct the Turbo Tax cost or any tax preparation fees you actually paid in on your tax return no matter what year it is for. But it is a Misc Deduction and only the amount OVER 2% of your AGI is deductible so it might not be worth putting it in.
You appear to be using Online Deluxe Edition, which is a paid version--$60 for Federal and $50 for state (if applicable), and if you choose to pay the fees out of your Federal refund, there is an additional $40 service fee ($45 for California filers.)
Why am I being charged 110 dollars to use this service when I have a simple return? You are posting from the Deluxe version which is $60 for federal and another $50 for a state return.
Free Edition is for simple returns that file a 1040 with no additional schedules, and is free as long as you don't select any add-ons or upgrades. Review your fees to find out why you're being charged.
"Intuit has elected not to renew its participation in the IRS Free File Program and will no longer be offering IRS Free File Program delivered by TurboTax," the company explains on its website.
Wait, Is TurboTax Really Free? TurboTax Free File, also called TurboTax Freedom Edition, is free for those making under $34,000 per year. Click here to access the TurboTax Free File edition. TurboTax also offers a Free Edition for anyone who is filing a simple return only.
Maximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid.
Although you will be charged interest and late payment penalties until the taxes you owe are paid in full, the failure to pay rate is decreased from . 5% to . 25% per month while your installment agreement is in effect.
that TurboTax can takes its fees from your bank account. It is not TurboTax's fault that the IRS delayed your refund for identity verification. They sent you several emails telling you that they would be deducting the fees from your account; you could have called customer support about it before they deducted the fees.
If your adjusted gross income was $73,000 or less in 2021, you can use free tax software to prepare and electronically file your tax return, according to IRS instructions online for the 2021 tax season. If you earned more, you can use Free File forms.
Read our editorial standards. TurboTax is one of the most popular tax software providers, but it's not the cheapest. TurboTax's four DIY packages cost between $0 and $89 for federal returns, plus an extra $39 for state returns. The more complex your situation, the more expensive it will be.
Using the desktop editions of TurboTax there is currently a $19.99 fee to e-file a state income tax return.
Why was my bank account auto-debited for TurboTax fees? When you filed your 2017 tax return, you chose the Refund Processing Service (aka pay-with-your-refund) which lets you deduct your TurboTax fees from your IRS tax refund instead of paying them with a credit or debit card.
TurboTax cannot steal anything as it is only a software company ... it never touches your money ... it goes from the IRS directly to your bank account or the Greendot card ... if you have issues then take it up with your own bank or the Greendot company.