1040.com: Good Site, if you already know your Taxes
Written: Jan 23 '03
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Pros: Lots of forms available
Cons: Little advice or FAQ
The Bottom Line: This is an average web service that will help you if you already have a good grip on your tax situation.
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| Bryan_Carey's Full Review: 1040.com |
Filing tax returns can be hectic for some people. The U.S. tax code is horrendous, and the more deductions/additions to income that an individual has, the more he/she needs to spend time researching data. One can never be completely sure what’s allowed to be included and what’s not allowed, when it comes time to file.
Fortunately, the information age has helped to make the process of gathering tax data a little less time consuming. The subject of this review is an on- line service called 1040.com, a tax resource that helps answer your tax questions, print forms, and read all about the latest news in the world of taxation.
What Does This Service Offer?:
1040.com is a resource that can fulfill a good majority of your tax needs. Here’s a breakdown of the main sections:
2002 Tax Info- This area is updated each year, as soon as the next year’s tax information is available. You will find links here that will help to answer your questions about topics like standard deductions, exemptions, itemized deductions, capital gains, estate and gift taxes, education provisions, filing requirements, penalty rates, etc. Each of these links is simple: no story or article, just the numbers that you need to complete your tax return.
Newsroom- This is a collection of news articles from various sources. Some are taken directly from newspapers around the country, while others are taken from journals, magazines, or other periodicals.
Federal- In this section, you will find downloadable forms to complete your tax filing. Included here are forms not just for the current year, but also for past years. At present, 1040.com has forms for the years 1992 to 2002. You need to have Adobe Acrobat installed on your computer to be able to read and download these forms.
State- Similar to the Federal area, this part of 1040.com has downloadable forms only this time, they are for individual state filing. You select your state, then a year (in the state section, forms are accessible for only three years- 2000, 2001, and 2002), and you will be presented with links to either download a form, or to enter another web site, to get the forms you need.
Preparer News- This area is designed to allow tax preparers a place to customize their own 1040.com site, to promote their tax services. There are also some links here for finding answers to tax- related subjects and a page of links to other well- known tax preparation services
Taxpayer News- Here, you will find tax resources that will help you file your return on- line; get an estimate of your tax for the year; find addresses to mail your returns; and locate tax professionals in your area. And if you just can’t get enough of this site, there’s an e-mail service that you can sign up for, which will send you tax headlines and updates when they become available, right to your personal e-mail box.
Costs to Use This Service:
If you want to file your return through 1040.com, it will cost you $14.95 for either the 1040 or 1040a. If you don’t itemize and you can get away with filing using the 1040EZ form, the cost will be only $9.95. Other than these preparation fees, there is no other cost to use this site.
Final Thoughts:
1040.com is one site among several that I have been using to find answers to my tax questions. I have found this service to contain a mixture of good and bad points.
First, let’s talk about the good aspects of 1040.com. I like the fact that I can lookup any federal tax form and download it to my computer screen. The site is fast, too. No matter how long the form, I was able to download in fewer than 10 seconds. The rates for on- line tax preparation are competitive, too. In fact, they are less expensive then the majority of tax preparation services.
The news stories are also helpful, and I like the way they deal with a wide range of political issues that relate to taxes. There aren’t enough of them, though, and that can get a little frustrating. Right now, if I check the site, there are a total of only 15 news stories and many of them were written in 2001. They need to update this section more frequently.
Now, let’s talk about the negatives. First of all, I don’t like the fact that 1040.com will not answer tax questions. E-mail questions can only be made if they involve technical difficulties with the site. They will not answer any tax- related questions or give advice. If you want that type of service, you need to look elsewhere. They also do not provide a phone number to call, for customer service. Your only link for help is to send an e-mail.
Another negative is the search function. You can search for forms, and then read the publication and/or instructions that accompany each one. But you can’t just enter a general term and conduct a search for answers to your questions. You must find the form that deals with your tax issue, then read the publication and instructions.
Taken as a whole, this site gets a grade of a “C”. It comes through in most instances, but it can leave you dry in others. Basically, if you already know what you need and have minimal questions that need to be answered, then you will probably find everything you need in 1040.com. But if your tax situation is more complex and you need the advice of a professional, you will likely need to consult another web service or call a professional. 1040.com is strictly in the business of finding forms and providing links to other sites. It’s not a full- service site, so keep that in mind if you decide to visit.
Oh, and have a happy tax- filing season!
Recommended:
Yes
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