Looking to get the maximum refund possible from your 2010 federal taxes?
I got the maximum refund using one of the online filing services, it was completely free, and the government has already deposited my refund into my checking account. (It posted on Friday.)
Pretty painless and awesome, plus H&R Block found me a tax credit I did not even know I was eligible for.
Personally, if you're looking to get the maximum refund in 2010, I do NOT recommend using an accountant who specializes in tax filings... The competency level of those folks seems to vary greatly, and I have heard many horror stories.
Unless you are an extremely high net worth individual with very complex finances, one of the online filing services will probably suit you better.
I used TurboTax last year, and was annoyed. They send out WAY too many emails, I found their system a bit confusing and time consuming as well.
H&R Block's system, on the other hand, felt very streamlined and only took me 20 minutes or so to file. I got the maximum refund possible and the direct deposit option (first year I've used it!) was totally seamless and worked as it should.
H&R Block also doesn't brow beat you with relentless emails. I received notifications when the IRS accepted, and then approved, my online return. That was it. No B.S. or marketing emails.
I definitely recommend them to anyone with fairly simple finances. They will find you every possible tax credit, and for me the additional state file was only $9.95.
To summarize: I got the maximum refund possible this year, it was deposited on time into my checking account on February 5th, found a tax credit I didn't know I had qualified for, and filed my federal taxes for free. I only paid $9.95 total, if you count their fee for state file, but that was well worth it: I am expecting a $400 or so refund from the state in the next week.
As always, I believe in being completely transparent with my readers. I have NOT received any compensation from H&R Block or any other tax filing service to write this article. I recommend companies I like and financial products I enjoy using, not companies that pay me.
I know, novel idea, right? But I don't write this blog primarily to make money. I write it to share my personal finance journey and get feedback (and advice!) from readers like you -- and when I can, I share my own advice.
Good luck with your tax filing, and don't let any credits escape you. Getting the maximum refund possible from your state and federal tax returns is a great way to build up your savings account or emergency fund. You can even request that the IRS direct deposit your refund into your high yield online savings account, such as an ING Direct or HSBC Direct account.
And this year, you can request the deposit be split into as many as THREE different accounts. So, you can have some put in your savings account, some in your everyday checking account, and some in an emergency fund. Pretty cool feature... and I'm glad the IRS is encouraging us to save. Well, giving us greater flexibility, at least.
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