![]() Are there any downsides to using Cash App Taxes?Ĭash App Taxes won't be suitable for you if you've lived in more than one state over the last year because it doesn't let you fill out multiple state tax returns. Cash App Taxes doesn't offer any tax services that let you speak one-on-one with an expert. If you'd prefer to file with an expert or at least have the option of speaking with an expert, TurboTax will be the better option. At TurboTax, you'll have to look at individual packages and determine which best fits your circumstance. You might prefer Cash App Taxes to TurboTax if you're looking for a straightforward free tax service that will cover most tax situations. For instance, if you use a credit card on Cash App to make an online purchase, there's a 3% transaction fee. Cash App offers more services than tax preparation alone, and if you decide to use them, you may have to pay a fee. Other services like TurboTax or H&R Block have a free tax option but will charge you a fee if you plan to include certain credits or deductions or use a tax expert.Ĭash App Taxes is free, but Cash App's other features may not be. You won't be charged a fee for filing a federal or state tax return. Yes, Cash App Taxes is a free tax service. Accuracy guarantee. If there's a calculation error on your 2022 tax return due to Cash App's platform and the IRS or state tax authority imposes a penalty, the company will reimburse you with a gift card of up to $1,000, depending on the fee you're charged.You can see who qualifies for the program here. If you're audited, Cash App may membership to its Protection Plus Audit Program, where you'll be able to receive assistance and consultation. Mobile and online features. You'll be able to fill out the form on your phone, on both, or go back and forth.You'll be prompted to answer questions in stages, which gives you time to process information. You won't be able to talk to an expert, though. If you need a refresher on a form or aren't sure where it goes, Cash App Taxes has an FAQ section that provides an overview of different forms and explains how to report them. The tax return form is split into sections - income, deductions, and credits - so you can complete your tax returns in stages. You won't be able to file only a state return. If you've worked in more than one state, earn foreign income, or are a non-US resident who needs to file a 1040-NR, you won't be able to file with Cash App.Ĭash App will require you to file for your federal tax return before filling out your state tax return. The platform will work for most tax situations, but there are a couple of forms and situations Cash App won't support. You may file tax returns online or through the app once you verify your identity with a few quick questions. Free tax filing will appear as an option on the home menu of the app. ![]() If you don't already have the app, you'll need to download Cash App onto your phone and sign-up first. Prefer not to download Cash App to utilize the tax preparation serviceĬash App Tax lets you file your federal and state tax returns online.Haven't filed your taxes independently before.Prefer to get guidance from a tax expert.Need to file a tax form that isn't currently supported by the platform.You might not like filing with Cash App Taxes if you: You might like filing with Cash App Taxes if you: You'll have to search for these tax forms on your own and be confident in your knowledge about taxes to use this platform. Unlike other tax services, it is free whether you have a basic tax situation, you're self-employed, or you've earned investment income.Ĭash App Taxes doesn't have distinct packages that let you file with an expert or file for specific tax situations like TurboTax or H&R Block. The interface isn't overwhelming since it lets you answer a few questions one step at a time. Unable to file state taxes without filing for federal taxes firstĬash App Taxes works best for someone who knows how to file their tax return independently and is searching for a straightforward process.It doesn't support filing state taxes without filing for federal taxes, multiple state returns, part-year state returns, or foreign earned income, though. Cash App Taxes offers a free way to prepare your tax return.
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