Cash App Taxes Review: Best Free Option for 2024
Discover why Cash App Taxes stands out as the top free choice for managing your taxes in 2024. Uncover its benefits and tax filing process.
Looking to file your tax return without any cost in 2024? Cash App Taxes is a fresh addition to self-guided tax software this filing season.
Despite being a recent name, it’s a familiar offering. Square, Inc., the parent organization of the financial services application Cash App, has acquired Credit Karma's free DIY tax filing service and rebranded it.
Before committing to creating an account, let us provide you with an extensive review of Cash App Taxes. This review will cover its target audience and assess its user-friendliness.
What Is Cash App?
Cash App, previously recognized as Credit Karma Taxes, operates as a personal finance enterprise that assists individuals in sending and overseeing funds. Established in 2007 and headquartered in San Francisco, Cash App employs numerous staff members and serves millions of users.
Its reputation stems from providing all its services at no cost. Rather than charging customers directly, Cash App generates revenue through partnerships, ensuring users have unrestricted access to all features, including tax-related services.
As a result, you can effectively manage your finances with no financial burdens. The company aimed to introduce an innovative approach to the realm of tax planning by offering completely free filing for both federal and state tax returns.
There are no concealed charges or attempts to persuade users to purchase additional products or subscriptions. The singular plan is free and grants every user equal access to the same features.
>> File Your Taxes Online With Cash App >>
Who Is Cash App Taxes Best For?
Cash App Taxes is most suitable for individuals knowledgeable about filing their Cash App tax returns and prefer a simple process. The user interface is designed to be user-friendly, allowing you to answer a series of questions step by step.
Unlike other tax services, Cash App Taxes is completely free, regardless of whether you have a basic tax situation, are self-employed, or have earned investment income.
Unlike TurboTax or H&R Block, Cash App Taxes doesn’t offer separate packages for expert help or specific tax situations. Instead, users will need to search for the necessary tax forms independently and possess confidence in their understanding of taxes to utilize this platform.
Cash App Taxes Pros & Cons
Cash App Taxes Pros
- User-friendly interface
- Offers free audit defense
- Filing taxes incurs no charge
- Accommodates various tax situations and primary IRS forms
Cash App Taxes Cons
- Limited customer support
- Inability to file multiple state returns
- Requirement for a Cash App account
- Lack of assistance from tax professionals
Cash App Taxes Pricing
Cash App Taxes is completely free of charge and doesn’t provide any paid levels or additional services.
But is there a catch? Currently, there isn't one, except that using Cash App Taxes helps Square achieve its objective of encouraging new and existing customers to use more of its products.
Cash App Taxes is an excellent choice for individuals seeking free tax filing. As long as the software accommodates all the necessary forms you require for filing, you will receive:
- Free federal and state filing: Unlike many competitors, Cash App Taxes offers free filing for federal and state returns. While other platforms may limit free filing to uncomplicated returns, Cash App Taxes extends this offer to all users, regardless of their tax situation.
- No fees deducted from your federal refund: While competitors often deduct tax preparation fees from refunds, Cash App Taxes doesn’t charge any fees. Therefore, there are no deductions from your federal refund when using this service.
- No pressure to buy pricey add-on features: Unlike other tax filing options, Cash App Taxes doesn’t pressure customers to purchase expensive add-on features. While some platforms may push users to upgrade to paid versions for additional services like priority customer support or audit defense, Cash App Taxes doesn’t offer any paid add-ons.
- Free audit defense: All Cash App Taxes users receive free audit defense. In the event of an audit by the IRS or state tax authority, a Case Resolution Specialist will review and respond to tax notices on behalf of the user, providing representation during the audit process.
>> Check Out the Best Pricing for Cash App >>
Cash App Taxes Features
Cash App Taxes provides complimentary tax filing services to most individuals, although the capabilities of its software surpass what one would expect from its affordable price. Here are some notable highlights of this product.
Completely Free Federal And State Filing
When it comes to tax software companies, most of them offer a very limited set of features in their free tier. This often compels taxpayers to upgrade to a paid tier. However, Cash App Taxes breaks this trend by providing all its features for free. Users simply need to download the Cash App to access the comprehensive software.
Customized Filing Experience
At the onset of the filing process, individuals are required to answer a brief set of questions. This streamlines the process by eliminating the need for users to navigate through or assess irrelevant information.
Required Multi-Factor Authentication
Cash App Taxes place a high emphasis on security measures. Users are required to utilize multi-factor authentication, which is considered a best practice in the industry.
Unlike many other companies, Cash App Taxes goes even further by mandating a physical second form of authentication. This additional layer of security sets Cash App Taxes apart from its competitors and protects user accounts and sensitive information.
Free Audit Support
Cash App Taxes offers complimentary assistance with audits (through a third party) to individuals who file their taxes using Cash App Taxes. This support encompasses organizing tax documents, correspondence with the IRS, and representation at audit-related hearings.
Cash App Taxes Ease of Use
Preparing your tax return using Cash App Taxes is seamless and easy. The software will prompt you with inquiries about yourself, your spouse, and any dependents you may have. It will also ask for information regarding your income, deductions, and applicable tax credits.
Based on these details, the software tailors the experience to you by displaying only the sections requiring completion.
If you need to include an additional section later, a convenient option is at the bottom of your "Tax Home" page. This feature allows you to explore and add other forms or sections.
Is Cash App Taxes Free?
Cash App Taxes are provided to users completely free of charge. There are no prompts or requests for payment, and there’s no option to upgrade to premium support. The platform generates revenue through targeted advertisements for additional financial services.
In addition, Cash App Taxes also enroll individuals in the payment service Cash App. This service generates income through various means, including fees from retailers for using their hardware, transaction fees, and the sale of Bitcoin.
What's the Catch?
While Cash App Taxes offers a new tax planning service, it still has room for improvement. Currently, it lacks support for all tax forms. It lacks comprehensive educational content integrated into the filing process, which may be essential for new filers or those seeking assistance with tax comprehension.
Although they’re not indispensable, they lack various features and tools to streamline and alleviate the tax filing process. Customer service at Cash App is deficient.
Since tax planning is merely one facet of Cash App's offerings, its customer service needs to be explicitly tailored to tax planning support. There’s no provision for accessing tax advisors, depriving users of personalized or legal tax guidance.
Although Cash App Taxes are free, users must sign up for the entire Cash App service by creating an account.
Consequently, users gain access to the credit score and report service along with Cash App Taxes. While users can forgo these additional services, some may perceive this requirement as unnecessary or cumbersome.
How Do I Contact Cash App Taxes Support?
When using tax software that is completely free, anticipate certain compromises. With Cash App Taxes, one such compromise is the limited availability of support options.
Cash App provides a dedicated Help Center specifically for Cash App Taxes. However, unlike premium tax software companies, there’s no option to upgrade to tiers that offer access to tax professionals.
If the app has a technical issue, you can contact the company's main customer service at 1-800-969-1940. Nevertheless, if you desire the ability to seek expert advice on tax-related matters, consider an alternative tax software solution.
Is It Safe And Secure?
There are inherent risks involved when using tax software. However, Cash App prioritizes security measures more diligently than other tax companies. Drawing from its banking and brokerage firm expertise, Cash App goes the extra mile to safeguard user information.
To ensure the utmost safety of your data, employ unique passwords for each website you access, especially when dealing with financial platforms like banking and tax applications.
If you do your taxes on a public WiFi network, consider investing in a Virtual Private Network (VPN) to enhance the security of your personal information.
>> Cash App: Get the Tax Help You Deserve >>
Cash App Review – Is It Legit or Not?
Below, you’ll find genuine testimonials from satisfied Cash App users who have graciously shared their encounters. If you’re uncertain whether this service aligns with your needs and preferences, these insightful remarks might guide you toward a more informed and advantageous choice.
Cash App Alternatives
TaxSlayer
TaxSlayer is an excellent choice for small business filers because of its ability to handle complex returns at a competitive price compared to other major players in the market. It provides a priority phone line, ensuring good customer service, and offers a user-friendly platform for efficient tax filing.
Moreover, TaxSlayer allows users to customize the level of help they receive. The guided interview feature takes you through each process step, ensuring quick and accurate filing.
Alternatively, if you’re confident in your tax knowledge and prefer more independence, you can directly access specific tax forms to enter your income and deductions. This option can save time if you already know what information is required.
By offering these features and options, TaxSlayer empowers small business owners to file their taxes with flexibility. Whether seeking guidance or taking charge independently, TaxSlayer caters to diverse needs while maintaining efficiency and ease of use.
>> File Your Taxes Online With TaxSlayer >>
H&R Block
H&R Block is widely known for its physical office locations across the United States. However, the company also provides online filing options and downloadable computer software.
If you opt for their online package, you can work on your taxes using their mobile app designed for Android and iOS devices. H&R Block caters to many tax filers by offering a user-friendly interface that is both modern and easy to navigate.
Like other tax preparation services, this platform guides users through a series of questions regarding their household income while highlighting potential deductions and tax credits available to them.
>> File Your Taxes Online With H&R Block >>
TaxAct
TaxAct is ideal for individuals who want a cost-effective software solution that still provides an efficient and user-friendly interface for filing taxes. It’s particularly suitable for filers who are comfortable navigating the process independently with little help.
However, TaxAct goes above and beyond by offering free access to experts who can answer any questions during the filing process, which adds significant value.
While TaxAct may not be as budget-friendly as TaxSlayer, it has a better track record regarding its tax document upload and import features. If you're willing to invest a little more to save time with these convenient features, TaxAct could be well worth the expense.
Overall, TaxAct provides a reliable and trustworthy option for individuals seeking an informed guide in managing their tax filings efficiently. Its comprehensive software solutions and customer service commitment offer peace of mind throughout the process.
>> File Your Taxes Online With TaxAct >>
Cash App Taxes Review – FAQs
Does Cash App Taxes Offer a Mobile App?
While there’s no requirement to download the Cash App app and set up an account to utilize Cash App Taxes on your computer, accessing it via a desktop computer, laptop, or mobile browser is necessary.
In such cases, the system will prompt you to install Cash App on your phone, create an account, and use your phone's camera to scan a QR code to log into Cash App Taxes.
Can I File My Taxes for Free With Cash App Taxes?
Indeed, Cash App Taxes provides a completely free tax filing service. This option isn’t accessible to individuals who require assistance filing multiple state returns, possess over $600 of foreign income, or generate income from an estate or trust.
Is State Tax Filing Free With Cash App Taxes?
With Cash App Taxes, you can only submit one state return. However, if you have multiple state returns to file, for instance, if you lived and worked in different states or had employment in more than one state, you must explore alternative tax filing options.
Can Cash App Taxes Help Me File My Crypto Investments?
If you have traded one or two tokens, using Cash App Taxes can be beneficial for filing your taxes. Determining the cost basis for these trades should be relatively easy.
However, individuals who actively trade and have to input numerous transactions manually will find this process time-consuming and not worth the effort. For active traders, exploring options such as TaxAct or TurboTax Premier would be prudent to streamline the filing process and save valuable time.
Read more on Crypto Tax Software.
Do I Have to Pay if I Have a Side Hustle?
Cash App Taxes are free to all users, including self-employed individuals and those engaged in side gigs.
Bottom Line: Should You Use Cash App Taxes?
Cash App offers a cost-effective solution for individuals seeking to save money while preparing taxes. However, it’s essential to note that Cash App Taxes need more extensive features and educational resources than other tax filing services.
Investing in an alternative service may be advisable for those new to taxes, have complex tax situations, or lack confidence in filing taxes independently. However, if you feel comfortable managing your tax filings, Cash App Taxes presents an appealing option as it’s available free of charge.
>> File Your Taxes Online With Cash App >>
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