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Sunday, January 14, 2007

TaxCut from H&R Block

Premium + State Taxcut Software2006 from H&R Block and Premium Taxcut Software 2006 have an improved interface, making this software both easier on the eye and simpler to navigate than the 2005 edition. The rewritten tax interview has fewer words and the retail price is much lower than the of Intuit’s TurboTax price. Premium + State + E-File TaxCut Software costs $60.

Premium 2006 Taxcut Software
has more aesthetic appearance, complete with softer, green-shaded buttons and menus, which replaced the look of previous years. More prominently is Premium's rewritten tax interview with fewer screens and less text. The Home Mortgage Assistant, for instance, manages to eliminate a sentence or two of instructions from the many screens of the 2005 version. These enhancements mean fewer clicks, less reading, and a faster tax-preparation experience.

You can install H&R Block Premium + State + E-File TaxCut Software just for five minutes. This application runs on Windows XP, Windows 98 and 2000 systems. H&R Block doesn't assume that its users will have the newest equipment. You can use the same disk for Mac OS 10.3.9 and later. TaxCut still offers DeductionProfor estimating deductions. But if you want to use it, you need to install DeductionPro separately. TaxCut 2006 also includes WillPower, an app for wills and other legal documents, on a separate disk.

Another plus is this year's one-box-fits-all approach. Rather than force customers to choose between Premium, Deluxe, or Standard editions, Block has abandoned the latter two, leaving only Premium. The Premium Taxcut Software version is too much for 1040EZ filers, who instead should save some bucks by using an online tax-preparation site, which also tends to be quicker than tax software for the desktop. TaxCut has a tool for keeping historical data of stock prices, which helps you to determine the cost basis of a stock or mutual fund.

H&R Block's Premium-for-all strategy makes sense. The tax-payers won't have to study the list of features on the TaxCut box to find out which version is best for them. The exception is the small business owner, who'll probably need the specific business tools of the Home & Business edition. But, TaxCut still comes in several varieties, including the $20 Premium federal; Premium federal & state for $30; the $60 Premium federal, state, & e-file; and Home & Business with state and e-file for $80.

You can import TXF data from other financial software, including Intuit Quicken and Microsoft Money. Unfortunately, neither TaxCut nor TurboTax can import data from Microsoft Excel.

Key Advantages of TaxCut Online:

- Electronic filing is included in the price.

- No need to install anything on your hard drive.
- Work on your tax return from any Internet connected computer.
- Low-cost solution for simple tax returns: TaxCut Basic.
- You can try it before you buy
- Imports previous year’s tax data from an H&R Block Tax Office, TaxCut Online or TaxCut software.
- Quickly imports data from TurboTax, Quicken, Microsoft Money and more!

Key Advantages of TaxCut Software:

- Customers no longer need to make a purchase decision based on tax complexity.
- Prepare as many returns as you want and e-file up to 5 returns (additional fees apply per e-filed return).
- Save your tax data locally on your hard drive.
- Import your charitable donation data from DeductionPro, and your financial data from Quicken, Microsoft Money and more.
- Imports last year’s TaxCut Online or Software data, H&R Block Office data and TurboTax software data.

Key Advantages of TaxCut by H&R Block vs. Competitors:

- Selecting a product is easier.
- Backed by a large network of H&R Block tax professionals.
- Free audit support help and representation for do-it-yourself filers. Included when a user successfully e-files federal, or federal and state return, with a paid DIY product.
- Import last year’s tax data regardless of what H&R Block or TaxCut solution was used the previous year.


TaxCut Premium users get free phone, e-mail, and chat assistance. The software includes brief video tutorials. Support hours are weekdays from 7 a.m. until 7 p.m. Central Time. We found TaxCut's support representatives to be both polite and knowledgeable about the software. For peace of mind, H&R Block also provides free audit support for federal and state returns that are e-filed. This means that if you're ever audited by the IRS, an H&R Block tax pro will help you prepare for the IRS visit.

View TaxCut Software Complete Features List
and TaxCut Online Product Comparison Chart


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