Why is Turbotax charging me is the first question that comes to users minds? This often occurs when they mistakenly believe they can file for free. TurboTax offers free and paid versions. The charges are in the form of unforeseen charges, product upgrades, or state returns. In this blog, let us discuss unforeseen charges of Turbotax, how to handle them, and the top 5 reasons you must know:
Pay Through Refund
This is a popular Turbotax service for its clients. The customers may prefer to pay the TurboTax fee from their refund in the future. When individuals file their income tax return, they are asked if they wish to pay for the income tax return filing fee from the future proceeds of their income tax refund. Santa Barbara Tax Product Group collaborates with TurboTax to offer this service to customers.
Upgradation Of TurboTax Edition
You have to upgrade to the TurboTax edition. Turbotax might charge you an additional charge to settle the amount. A student who was using the TurboTax free edition previously and he was receiving credits as he took a student loan. Due to this, he will need the Deluxe edition of TurboTax to file as per the new schedule. He will have to pay a fee to the company.
You Don’t Qualify For TurboTax Free File Program
Not all individuals are eligible for the free file program of TurboTax. You must be thinking that you are eligible to use the free file program of TurboTax. But you have to pay for the higher edition to file an income tax return. Also, no case goes without the user’s consent to upgrade their subscription.
Standard Charges Of TurboTax
Standard charges of TurboTax are only applicable to users who use the solution for filing income tax returns. The free version of TurboTax applies to qualified customers.
You may claim the free income tax return once you are eligible for it by satisfying the service providers. You may be charged a fee from TurboTax whenever you file a Federal or State income tax return.
Refund Processing Fee
The refund processing charge refers to the previous point. Whenever you file an income tax return, you agree to allow TurboTax to handle your refunds. TurboTax might charge you a refund processing charge of around $40.
Santa Barbara Tax Product Group charges you an additional fee, and this option is applicable when you choose Pay-By-Refund.
Final Thoughts
State income tax filings, add-ons, and Upgrades are the answers. Free versions apply to eligible users. You can avoid the surprise once you know the difference between the free and Deluxe versions of TurboTax, know TurboTax payment options, and verify your billing details.
FAQs
How to avoid TurboTax charges?
Pay fees quickly, decline optional services, or complete the free edition of your income tax return instead of receiving a refund deduction that includes processing charges.
What to do if a TurboTax charge appears on my credit card?
You may look at the order summary of TurboTax to check for state returns or upgrade fees. When the charge is surprising or incorrect, you may ask for a refund, call the customer service, or ask to change it.
Is TurboTax really free for income tax filing?
Simple cases are free under the free version of TurboTax. Businesses, itemized deductions, or investments are complex filings that include additional charges and make it costly for taxpayers.