1040.com Overview – Simple On-line Tax Submitting

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Low-cost on-line tax prep supplier 1040.com has a user-friendly interface and a single value level that’s acceptable for tax conditions of any complexity.

Although it’s not free, 1040.com is certainly a worthy selection for filers who’d want to not pay tons of for in-person prep or shell out double for full-service help at TurboTax or H&R Block. That stated, you get what you pay for. It doesn’t maintain your hand at each stage or present around-the-clock entry to on-call tax consultants. 

However if you happen to’re assured sufficient to finish your return with minimal help, 1040.com is a good selection. Simply make sure you perceive its plans, options, benefits, drawbacks, and general suitability.


Irrespective of how advanced your tax scenario is, you need to use 1040.com to finish and file your federal return and any required state returns for simply $25. That features all options and capabilities. 

It will get higher.

The prep interface has a remarkably crisp design and open structure that permits free motion between sections and varieties. When you enter your demographic info, you’re free to work by means of it in any order. 

Plus, it auto-completes all related varieties earlier than you formally start your state return, making it that a lot quicker to finish.

It additionally consists of assist for each tax scenario, together with varieties and schedules for:

  • Itemized Deductions. If you happen to plan to itemize deductions, together with actual property taxes, mortgage curiosity, and eligible medical bills, you are able to do so with this plan.
  • Retirement Financial savings Tax Credit. If you happen to contributed to an employer-sponsored retirement plan, you’ll be able to take the suitable tax advantages.
  • Retirement Earnings. Entry the required paperwork if you happen to earned earnings from retirement account distributions, Social Safety, or employer pensions.
  • Miscellaneous Deductions. These embrace educator bills, shifting bills, alimony paid, and IRAs.
  • Youngsters and Dependents. You probably have kids or dependents, you’ll be able to declare all acceptable tax credit and deductions, together with schooling bills and financial savings.
  • Self-Employment and Small-Enterprise Earnings. If you happen to’re a freelancer, solopreneur, or small-business proprietor, you could must file Schedule C. If you happen to earn earnings from a partnership or C-corporation, you may additionally must report earnings on Schedule Ok-1.
  • Beneficiary Earnings. If you happen to’re the beneficiary of an property or belief, you’ll be able to report earnings earned from these sources.
  • Help for Unreported Suggestions. If it is advisable to report money suggestions by means of your employer, you are able to do so utilizing this software program.
  • Help for Much less Widespread Conditions. Different much less frequent sources of earnings, together with rental earnings and playing winnings, are supported by 1040.com. So are much less frequent deductions and credit.

Further Options of 1040.com

Separate from the tax prep course of, 1040.com has some helpful options, together with tax ensures much like different tax prep websites.

Refund Tracker

This tax prep software program has a real-time refund tracker that shows your anticipated federal and state tax refunds or liabilities. These figures are clearly seen close to the highest of the prep interface and alter as you add new info.

Pay With Your Refund

If you happen to’re eligible for a federal tax refund, you need to use it to pay your 1040.com prep charges. There could also be a processing cost, so verify 1040.com’s tremendous print for particulars.

Most Refund Assure

Like most on-line tax prep software program, 1040.com has a most refund assure. If you happen to file an equivalent return with a competitor and get a bigger refund, 1040.com might refund the distinction topic to sure restrictions and limitations. Contact 1040.com’s assist crew for extra info.

Accuracy Assure

Whenever you use 1040.com, you could be entitled to compensation in case your return is affected by any errors or omissions its software program induced. The phrases are topic to alter, so verify with 1040.com for the most recent particulars.

Help for Clear Water Initiatives

Drake Software program, 1040.com’s dad or mum firm, companions with Therapeutic Waters Worldwide, a Denver-area nonprofit that invests in clear water initiatives around the globe. The corporate has donated sufficient to safe about 20 million gallons and counting.

If you need your tax prep charges to make a distinction on this planet, you’d be hard-pressed to discover a higher firm to do enterprise with.


Benefits of 1040.com

This on-line prep software program has a whole lot of benefits. Essentially the most notable make it one of many cheaper, easier-to-use bare-bones tax prep choices with out complicated bells and whistles.

  • Low Value No matter Complexity. Pay a flat charge of $25 to prep and file your returns, no matter complexity. That’s a superb deal for folks with difficult tax conditions.
  • State Returns Included in Prep Prices. In contrast to many opponents, 1040.com doesn’t cost additional for state tax returns, even when it is advisable to file multiple.
  • Pay Prep Charges With Your Refund. You’ll be able to pay your prep charges out of your federal tax refund if it’s giant sufficient, which is ideal for cash-strapped filers.
  • Cell-Pleasant, Consumer-Pleasant Interface. Its mobile-friendly interface is a snap to make use of, simply a top-five selection for filers preferring handheld units like smartphones and tablets. It’s additionally one of many best tax prep platforms to navigate.
  • Intensive Assist Content material. Filers can entry an intensive database of assist content material divided into two major sections: a data base and FAQ part with dozens of frequent tax-related questions.
  • Your Prep Charges Help a Good Trigger. If you need the cash you spend to imply one thing, you’ll love 1040.com. Its dad or mum firm donates a portion of its income to nonprofit clear water charity Therapeutic Waters Worldwide.

Disadvantages of 1040.com

No tax prep software program is ideal for each filer. And 1040.com’s disadvantages primarily have an effect on much less skilled taxpayers preferring skilled hand-holding.

  • Restricted Skilled Help. Skilled assist isn’t as strong as better-known opponents like TurboTax or H&R Block. There’s no approach to work straight with an accountant, for instance. 
  • No Full-Service Submitting Possibility. You can also’t entry a full-service submitting choice. It’s DIY all the best way. If you happen to suppose you could want hand-holding, you’re higher off with an impartial accountant or full-service on-line choice. 
  • Glitchy Dwell Chat System. The reside chat interface has some annoying inconsistencies. They received’t have an effect on everybody who makes use of the platform, however you would possibly discover it troublesome if you happen to get caught.

In contrast to some opponents, 1040.com isn’t a very well-known tax prep platform. So how does it stack up towards greater names like H&R Block, a frontrunner in DIY tax prep?

1040.com H&R Block
Free Plan None Sure, for easy conditions solely
Professional Help Primary assist solely Sure, assisted prep begins at $40; full-service prep begins at $80
Pay With Your Refund? Sure, for a further charge Sure, for a further charge
Most Costly Plan Value $25 Beginning at about $85

Last Phrase

Earlier than coming throughout 1040.com, I hadn’t given a lot thought to mission-driven tax prep. OK, I hadn’t given it any thought.

However now that I’ve had an opportunity to make use of this low-key product, I’m stunned and a bit of ashamed. Contributing $2 per return towards clear water in locations with out it’s a small act that makes a giant distinction.

I’m not saying it’s best to put together your taxes with 1040.com just because its dad or mum firm is extra vocal about its charity than most, however there are undoubtedly worse causes to modify. That’s much more true if you happen to’re not in love along with your present tax prep supplier.

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