Updated on Sunday, December 29, 2024: Tax season is upon us again and if you’re planning on filing with the help of TurboTax, then they are offering several discounts on their software. Here’s a breakdown of the current TurboTax discounts available from now through January, 31, 2025:
1. Extra 10% Off TurboTax Online Versions
TurboTax is offering an additional 10% off instant coupon on federal tax products for those who order directly through Intuit. This discount can be combined with their early-season promotion of up to 40% off, offering substantial savings for early filers. However, note that the discount is limited to federal products (no state filings included) and cannot be combined with other offers. This deal ends January 31, 2025, so take advantage of it while it lasts.
2. TurboTax Free Edition for Simple Returns
For taxpayers with straightforward financial situations, TurboTax’s Free Edition allows you to file both federal and state taxes at no cost. It supports basic forms like Form 1040 and limited tax credits, including:
- Earned Income Tax Credit (EITC)
- Child Tax Credit
- Student Loan Interest Deduction
However, this offer is only available to taxpayers with uncomplicated returns. According to TurboTax, only about 37% of taxpayers qualify, as it excludes scenarios like itemized deductions, self-employment income, or investment earnings. If your return fits the criteria, this is an excellent cost-free option.
3. 50% Off QuickBooks Solopreneur Bundle
Small business owners and self-employed individuals can access the QuickBooks Solopreneur Bundle at half price for the first three months. This reduces the monthly cost from $20 to $10, offering an affordable way to manage business finances while integrating seamlessly with TurboTax for tax preparation.
4. Free TurboTax Freedom Edition for Military Personnel
TurboTax continues its tradition of supporting the military by offering the Freedom Edition free to active-duty members ranked E1 through E9. Higher-ranking personnel can access discounts, but the software is no longer free for them. To qualify, applicants must provide a military W-2 form from the fiscal year 2024. This offer ensures military members have access to robust tax tools designed to accommodate unique military tax scenarios.
5. TurboTax Partnerships with Financial Institutions
TurboTax has partnered with several financial institutions, including banks and credit unions, to offer additional discounts. These deals vary by institution and are often accessible through online banking portals under the “deals” or “partnerships” sections. Popular options include Bank of America, AAA, Golden1, Vanguard, Wealthfront and Penfed. Be sure to check with your financial institution to see if any exclusive offers are available to you.
TurboTax and Alliant Credit Union: No Discount This Year
For 2025, it appears that the Alliant Credit Union is not offering a TurboTax discount for it’s members. While something may still be available through individual accounts, as of now, no public announcements have been made about TurboTax discounts for Alliant members.
This absence may be disappointing for those accustomed to receiving savings on tax filing software, but members can still take advantage of TurboTax’s general promotions or explore alternative financial institutions for potential discounts.
Alliant Credit Union: History, Services, and Tax-Season Tools
About Alliant Credit Union
Alliant Credit Union, headquartered in Chicago, Illinois, is one of the largest credit unions in the United States. Founded in 1935 as the United Airlines Employees’ Credit Union, Alliant initially served airline workers but has since expanded to offer membership nationwide. Today, anyone can join by meeting eligibility criteria, such as membership in a partner organization or through family connections.
With more than 700,000 members and over $15 billion in assets, Alliant Credit Union prides itself on offering a full suite of financial products and competitive rates. Its not-for-profit model means earnings are reinvested into member benefits, such as lower fees, higher savings rates, and advanced financial tools.
How to Access Alliant Tax Statements
During tax season, Alliant Credit Union simplifies the process of accessing your tax-related documents. Members can easily retrieve their tax statements through Alliant’s online banking platform.
Tax Form Availability
Alliant provides various tax forms, such as 1099-INT for interest income. Members who earn less than $10 in interest may not receive a 1099-INT form, as it’s not required. For those earning more, tax forms are typically available by January 31, 2025.
Accessing Tax Statements Online
To access your tax forms:
- Log in to Alliant online banking.
- Click the Statements button on the right side of your account balance.
- Scroll to the Tax Statements section.
- Select and download the form you need.
If you prefer hard copies, you can request mailed statements, which typically arrive within 10-14 business days.
E-Statement Users
If you’re enrolled in Alliant’s eStatements program, you won’t receive paper copies unless you specifically request them. Instead, you’ll receive an email notification when your tax forms are ready to view online.
Alliant’s Financial Products and Tax Season Support
Alliant Credit Union offers a wide range of services designed to meet the diverse needs of its members.
Core Financial Products
- Savings Accounts: Alliant’s High-Rate Savings Account offers competitive interest rates with no monthly maintenance fees.
- Checking Accounts: The credit union provides fee-free checking accounts with reimbursement for out-of-network ATM fees.
- Loans: Members can access auto loans, mortgages, and personal loans with low interest rates.
- Credit Cards: Alliant offers credit cards with cashback rewards and low APRs.
Tax-Season Resources
Although no TurboTax discount is available this year, Alliant provides helpful tools and resources for managing taxes:
- Financial Education: Alliant’s online Learning Center offers tips on budgeting, saving, and preparing for tax season.
- Access to Tax Statements: As described above, Alliant’s online banking platform makes it easy to download and manage your annual tax forms.
- Fraud Protection: Alliant emphasizes security, offering resources to protect members from scams that often spike during tax season.
Benefits and Drawbacks of Alliant Credit Union
Advantages
- Higher Interest Rates: Alliant’s savings accounts consistently offer rates higher than the national average.
- Lower Fees: With no monthly maintenance fees and fee-free checking options, Alliant is an affordable choice for everyday banking.
- Nationwide Membership: While many credit unions are geographically limited, Alliant allows membership across the U.S.
Disadvantages
- Limited Physical Branches: As a mostly digital credit union, Alliant has few physical branch locations, which may not appeal to those who prefer in-person banking.
- No TurboTax Discount for 2025: The lack of a TurboTax discount this year may frustrate members who have relied on it in the past.
Tax Filing Alternatives
For those who prefer to explore other options for tax preparation, here are some popular alternatives to TurboTax:
1. IRS Free File
The IRS Free File program provides free tax preparation software for taxpayers earning $73,000 or less. This option includes free federal filing, with some providers offering free state filing as well.
2. H&R Block Free Online Tax Filing
H&R Block offers a free option for basic filers, similar to TurboTax’s Free Edition. It includes features like a W-2 photo upload for easier data entry.
3. TaxSlayer
TaxSlayer is an affordable tax software option with pricing tiers starting at $0 for simple federal returns. It’s known for its user-friendly design and cost-effective premium packages.
4. Local Tax Preparation Services
For those with complex tax situations, working with a local CPA or tax preparer can provide peace of mind. While more expensive, this option offers personalized guidance tailored to your unique circumstances.
Our Final Thoughts
Tax season can be stressful, but understanding your options—whether it’s discounts on tax software, support from your financial institution, or alternative filing methods—can help make the process smoother.
While TurboTax offers numerous discounts this year, including options for military members and free filing for simple returns, the absence of a TurboTax-Alliant Credit Union partnership may require members to look elsewhere for savings. On the bright side, Alliant Credit Union continues to offer valuable resources, from easy access to tax forms to robust financial tools that help members stay on top of their finances year-round.
By taking the time to explore your options and prepare early, you’ll be better equipped to tackle tax season with confidence.