Updated on Tuesday, April 15, 2025: With Tax Day finally here, TurboTax just updated its latest discounts to help you file on time. Bank of America customers can also access exclusive offers, including cash-back rewards when using a qualifying BofA credit or debit card to pay for TurboTax software. Below is a roundup of the best current deals.

1. Extra 10% Off Federal Products

Through the end of day today,  April 15, 2025, TurboTax users can receive an additional 10% discount with this instant coupon on federal products when purchased directly from Intuit. This offer is stacked on top of the current end-of-season pricing. Note that this discount applies only to federal products (state excluded).

2. Exclusive Bank of America $20 Cashback Offer

TurboTax has partnered with Bank of America to provide an exclusive customer saving: Activate the offer within your Bank of America online portal or in the BofA app, and then use the debit/credit card tied to your account to pay for your TurboTax order to get $20 cashback on your next billing cycle (full offer details can be found further down this page). Best of all, this deal can be combined with the above 20% off instant discount! Offer expires on April 15, 2025.

3. 50% Off QuickBooks Solopreneur Bundle

For small business owners and independent contractors, TurboTax offers a discount on its QuickBooks Solopreneur Bundle. This package helps track expenses and manage bookkeeping throughout the year. It’s currently available at 50% off for the first three months, lowering the monthly cost from $20 to $10.

4. Free TurboTax Freedom Edition for Military Members

Active-duty military personnel ranked E1 through E9 can file their taxes for free with the TurboTax Freedom Edition. Higher-ranking service members are eligible for discounted pricing. A military W-2 form from the 2024 fiscal year is required to qualify.

5. Free Edition for Simple Tax Returns

For taxpayers with straightforward returns, TurboTax offers a Free Edition for filing both federal and state taxes. This option is ideal for those filing Form 1040 with limited credits like:

• Earned Income Tax Credit (EITC)
• Child Tax Credit
• Student Loan Interest Deduction

While this is a great cost-saving option, only about 37% of taxpayers qualify, as it does not support more complex filings like itemized deductions, self-employment income, or investments.

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TurboTax’s Bank of America Offer: Cashback for Customers

Bank of America customers have access to an exclusive $20.00 TurboTax cashback offer for the 2025 tax season. This deal will be live through April 15, 2025 and can be combined with other TurboTax offers.

How the Offer Works

Bank of America customers can earn $20 cashback on TurboTax products by completing the following steps:

1. Activate the Offer: Log in to your Bank of America account online or through the mobile app and navigate to the “BankAmeriDeals” section (see examples in the screenshots below).
2. Meet the Spending Requirement: Spend a minimum of $39 on TurboTax products using your Bank of America credit or debit card that’s tied to your account.
3. Receive Cashback: After qualifying, $20 will be credited to your account within 30 days or by the next billing cycle.

To confirm availability, log in to your account and check under the “BankAmeriDeals” section.

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Bank of America: A Key Partner for Financial Services and Tax Preparation

Background and History

Founded in 1904, Bank of America is one of the largest financial institutions in the United States, serving over 67 million customers. The bank offers a wide range of services, including checking and savings accounts, credit cards, loans, and investment options. It’s also a significant partner for tax-related services, providing customers with tools to manage finances and prepare for tax season.

Accessing Tax Documents with Bank of America

Bank of America simplifies tax preparation by providing easy access to essential documents through online banking. Customers can find forms like 1099-INT and 1098 directly through the platform.

• 1099-INT Forms: Issued if you earn at least $10 in interest during the tax year. Forms are mailed by the end of January and available online in the Statements & Documents tab.
• 1098 Forms: For mortgage interest deductions, customers can download these forms from the Year-End Statements section.

For other 1099 forms, such as those related to investments or savings, you can contact Bank of America directly if they haven’t arrived by February 15, 2025.

Routing Numbers and Account Verification

Bank of America provides detailed routing number information to ensure accuracy when filing taxes or making financial transactions. Customers can verify their routing numbers via the website or mobile app to avoid errors.

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Benefits and Drawbacks of Using Bank of America for Tax Season

Benefits

1. Centralized Access to Tax Forms: Online Banking consolidates all your essential tax documents, reducing the need to search through emails or mail.
2. Cashback Offers: TurboTax deals like the $20 cashback provide extra savings for customers filing taxes.
3. Financial Tools and Resources: Bank of America’s platform includes tools to track interest earned, mortgage payments, and other tax-related financial details.
4. Nationwide Accessibility: With branches and ATMs across the country, customers can access support in person if needed.

Drawbacks

1. Limited Discounts Compared to Other Offers: The cashback amount for TurboTax products is relatively modest compared to other promotions.
2. Potential Delays in Document Access: While most forms are available by the end of January, delays in delivery or updates to your account could affect your ability to file early.
3. Complexity for New Users: Navigating the platform to find specific forms or routing numbers can be challenging for first-time users.

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TurboTax and Bank of America: Making Tax Season Easier

The collaboration between TurboTax and Bank of America is one of many partnerships aimed at simplifying the tax filing process. By combining TurboTax’s intuitive software with Bank of America’s robust financial platform, customers can streamline their finances during tax season.

Pro Tips for Tax Season Success

1. File Early: Take advantage of early-season TurboTax discounts before they expire on January 31, 2025.
2. Track Financial Activity Year-Round: Use tools like Bank of America’s online banking platform or mobile app to monitor interest, mortgage payments, and other tax-related data.
3. Claim All Eligible Deductions: Don’t forget to account for deductions like student loan interest, mortgage interest, and investment losses.
4. Stay Organized: Keep track of forms like 1099s and 1098s as they arrive to avoid last-minute scrambles.

How to Get Started with TurboTax and Bank of America

1. Check for Discounts: Log in to your Bank of America account and explore the “cash back deals” section for TurboTax offers.
2. Verify Tax Documents: Use the Statements & Documents tab in Online Banking to access necessary forms.
3. File with Confidence: Use TurboTax’s step-by-step guidance to ensure accuracy and maximize your refund.

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Our Final Thoughts

Tax season can be a stressful time, but with the right tools and resources, it doesn’t have to be overwhelming. TurboTax’s discounts and Bank of America’s financial support make it easier to stay organized and save money while filing your taxes. Whether you’re an individual filer or managing complex finances, these resources can help simplify the process and keep you on track.

Updated on Sunday, April 6, 2025: With Tax Day almost here, TurboTax has rolled out several limited-time discounts, including partner exclusives, such as for MasterCard holders, to help lower filing costs. Here’s a look at the current deals available through April 15th:

Additional 10% Off Online Versions

TurboTax is offering an extra 10% off on all its online versions of the software, including Basic, Deluxe, Premier, and Self-Employed. This discount is valid for federal tax filings only and excludes state filings. This deal is valid until April 15, 2025. Keep in mind that this offer cannot be combined with other TurboTax coupons or service codes.

Exclusive Partner Discounts

TurboTax has partnered with various financial institutions and credit unions across the country, such as AAA, Bank of America, Fidelity and USAA, offering exclusive discounts to their customers. These discounts vary based on the bank or credit union that you work with, so it’s a good idea to check the specific terms and deals available through your financial institution’s online portal, typically found under sections like “deals” or “partnerships.”

TurboTax Free Edition for Simple Returns

For taxpayers with straightforward filing needs, the TurboTax Free Edition allows you to file both federal and state returns for free. This edition is best suited for filing Form 1040 and supports limited credits like the Earned Income Tax Credit (EITC), the Child Tax Credit, and the Student Loan Interest Deduction. However, only around 37% of taxpayers qualify, as it doesn’t support more complex returns such as those with business income, itemized deductions, or investments.

TurboTax Freedom Edition for Military Personnel

Active-duty military personnel ranked E1 through E9 can file their taxes for free using the TurboTax Freedom Edition. This offer is available to those in the armed forces during the 2025 tax season, provided they submit a military W-2 form from fiscal year 2024. Higher-ranking service members can still access significant discounts, though not the full free version.

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The TurboTax & MasterCard Partnership

As part of its longstanding partnership with MasterCard, TurboTax offers a 20% discount for MasterCard cardholders on their tax preparation services. This offer has been available for several years and continues to be a popular choice for those looking to save on their tax preparation costs.

To take advantage of this offer, simply follow the TurboTax link found on MasterCard’s site. The 20% discount will apply to the cost of the product, excluding any state tax filings.

MasterCard History, Background, and Use in Tax Filing

MasterCard is a global payments technology company that has been around since 1966. Founded by a group of banks, it has since evolved into one of the largest and most widely recognized financial services companies in the world. MasterCard’s main product offerings include credit cards, debit cards, and prepaid cards, which can be used for both everyday purchases and, increasingly, for specialized needs such as tax payments.

For years, MasterCard has provided its cardholders with a range of benefits, from cashback rewards to promotional offers with partners like TurboTax. One of the key advantages of using a MasterCard to pay for taxes is its convenience. With the ability to make tax payments online or by phone, MasterCard holders can pay off their 1040, 1040-ES, or 4868 forms using their cards, while earning points or rewards for their purchase. The payment process is straightforward, and taxpayers are able to handle their obligations from the comfort of their homes.

MasterCard is also accepted by a wide range of tax payment providers, which increases its flexibility. Payment providers like Official Payments Corp and PAY1040.com facilitate tax payments for federal income taxes, allowing MasterCard cardholders to complete their transactions securely and conveniently. To process a payment, users simply need to select one of the payment options and follow the prompts provided by the payment provider, either online or through an automated phone system.

How to Use Your MasterCard to Pay Taxes

There are several ways to use your MasterCard to pay your taxes, depending on how you choose to file. The three main options are:

1. Paper Return: Prepare your tax return on paper and then make your payment by phone or online.
2. Electronic Filing: Use an electronic filing system, such as TurboTax or another online platform, to file your taxes and pay through the same methods.
3. Authorized Tax Preparer: Have a professional tax preparer file your taxes electronically and then make the payment through MasterCard.

Once your return is filed, MasterCard allows you to pay the tax balance due using their payment processors, such as Official Payments Corp or PAY1040.com. Payment by phone is available via toll-free automated numbers, or you can complete the transaction directly online. Simply select MasterCard as the payment option, and the payment processor will guide you through the necessary steps.

Fees and Costs Involved

When using MasterCard to pay taxes, be aware that a convenience fee may be charged, which varies based on your tax liability and the payment provider. These fees are generally small, but it’s important to note that they will appear separately on your credit card statement. For example, you may see two entries on your statement: one for the tax payment itself and another for the convenience fee. The fee will be identified clearly as “Tax Payment Convenience Fee.”

It’s also worth noting that this convenience fee is applied by the payment providers rather than MasterCard itself. For this reason, the fee may differ depending on which provider you choose to handle your payment.

MasterCard and Taxes: Benefits and Drawbacks

Using a MasterCard for tax payments offers a variety of benefits. For one, it simplifies the payment process. Instead of dealing with checks, money orders, or other forms of payment, you can easily complete your transaction using a card you likely already carry. The added bonus is that many MasterCard users earn rewards, cashback, or points for their purchases, including tax payments. These rewards can be useful for offsetting the costs of tax preparation or other related expenses.

Another advantage is the flexibility of using MasterCard for payments. With access to payment portals like Official Payments Corp and PAY1040.com, taxpayers can manage their tax obligations from anywhere, at any time. Furthermore, some taxpayers may prefer the added security that comes with using a credit card for such a large payment, compared to other payment methods.

However, there are drawbacks to consider as well. The main issue is the convenience fee, which, although generally small, adds to the overall cost of using a credit card to pay taxes. Additionally, if you carry a balance on your MasterCard, you’ll be subject to interest charges, which can quickly add up. For taxpayers who can’t pay off their balance immediately, this could result in significant extra costs. Furthermore, there are limitations on the types of taxes that can be paid with a MasterCard. For example, state taxes might not be eligible for payment via this method, depending on the state and payment processor.

Signing Up for MasterCard: What You Need to Know

To take advantage of the benefits of MasterCard, you’ll first need to sign up for an account. The process of signing up for a MasterCard is straightforward. You can choose from a variety of options, including credit cards, debit cards, or prepaid cards. Many financial institutions and banks offer MasterCard products, and each has its own set of benefits, rewards, and fees.

When selecting a MasterCard, consider factors such as your credit score, the type of rewards or perks you want, and your overall financial situation. Some cards offer specific benefits for travel, while others may offer cashback or points on everyday purchases. If you plan to use your MasterCard for tax payments, make sure to check whether the card’s terms and conditions include any restrictions or extra fees for paying taxes.

In conclusion, using a MasterCard to pay taxes can be a convenient and rewarding option for many taxpayers. With access to a range of payment providers and the potential for rewards, it offers flexibility and ease of use. However, it’s essential to consider the associated fees and costs, especially if you carry a balance on your card.

Updated on Sunday, April 6, 2025: With Tax Day right around the corner, TurboTax is offering several exclusive discounts to make filing just a little bit more affordable. Here’s a look at our favorite offers available through April:

1) Extra 10% Off TurboTax Online Versions

TurboTax is offering an additional instant 10% coupon on all Online versions of its software, including Basic, Deluxe, Premier, and Self-Employed. This discount is available for federal tax products only and excludes state filings. While the offer cannot be combined with other promotions, it can be stacked with current end-of-season pricing on all online versions. This offer expires on April 15, 2025, so if you plan to take advantage of it, be sure to file before the deadline.

2) Partnership Discounts with Financial Institutions

TurboTax has teamed up with various financial institutions and credit unions across the United States to provide their customers with exclusive discounts. These deals can be accessed through your bank’s online portal under sections like “deals” or “partnerships.” That incudes Bank of America, AAA, TD Bank, BNY Mellon and USAA. The terms and availability vary by institution, so it’s worth checking out your bank or credit union to see what’s on offer.

3) TurboTax Free Edition for Simple Returns

For those with simple tax situations, TurboTax’s Free Edition provides a great no-cost option for both federal and state returns. It’s specifically designed for straightforward tax filings, such as Form 1040, and supports some basic credits like the Earned Income Tax Credit (EITC), Child Tax Credit, and Student Loan Interest Deduction. However, this edition doesn’t cover more complex tax scenarios, such as business income, itemized deductions, or investments. Only about 37% of taxpayers are eligible for the Free Edition, so it’s essential to review your filing needs before choosing this option.

4) TurboTax Freedom Edition for Military Members

Active-duty military members ranked E1 through E9 can access the TurboTax Freedom Edition, which allows them to file their taxes for free. However, this offer is limited to lower-ranked service members, and higher-ranking personnel are not eligible for the free version but can still access discounts. To qualify for the Freedom Edition, military members must submit a military W-2 form from fiscal year 2024. This is a significant resource for active military members looking to file their taxes without incurring additional costs.

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TurboTax’s Discontinuation of Visa Cardholder Discounts for 2025

For many years, TurboTax offered discounts to Visa cardholders, allowing them to file their taxes for less during the tax season. However, for the 2025 tax year, TurboTax has decided to discontinue this benefit (the link no longer applies the discount).

Those looking for discounts can now explore other avenues, such as the special promotions listed above or partnerships with financial institutions, including the 10% off Online versions and the free filing options for new users. These alternatives can help offset the loss of the Visa cardholder discount, and they are available to a broader range of customers.

Understanding Visa and Its Role in Financial Services

Visa is one of the largest financial services companies in the world, known for its credit and debit card products. Established in 1958, Visa has become a major player in the global payments industry, offering a range of financial products designed to help consumers manage their money.

Visa operates a network that allows for the processing of payments between financial institutions and merchants. Visa’s cards are accepted at millions of locations around the world, making them a popular choice for consumers who prefer digital payments over cash.

One of the primary benefits of using a Visa card is its wide acceptance. Whether you’re shopping in person, online, or paying bills, Visa is recognized as a trusted form of payment. This extensive reach gives cardholders the flexibility to use their cards for a variety of transactions, both domestically and internationally.

In addition to its payment network, Visa offers several other financial services, such as fraud protection, credit monitoring, and rewards programs for certain types of Visa cards. These services provide added value to customers, helping them stay secure and make the most of their spending.

For taxpayers, Visa cards can offer convenience when it comes to paying for tax software or filing fees. While Visa has discontinued its specific partnership with TurboTax this year, cardholders can still use their Visa cards to pay for any tax preparation service they choose. The ability to make these payments quickly and securely remains a benefit to Visa cardholders, even if no discounts are currently available for TurboTax.

Visa’s Influence on Tax Filing

Although Visa cardholders no longer receive specific discounts for TurboTax here in 2025, Visa still plays a role in tax filing for many consumers. The ability to use a Visa card for payment offers convenience and security when paying for tax software or filing fees. In many cases, cardholders can earn rewards or cashback for purchases made using their Visa card, further enhancing the value of using Visa for financial transactions.

Additionally, Visa’s wide reach allows it to partner with a range of financial institutions, offering consumers access to additional benefits and discounts through those partnerships. Although TurboTax is no longer offering a Visa-specific discount this year, Visa cardholders can still explore these other financial institution-based deals, which may offer similar savings.

In the end, whether you use TurboTax or another tax preparation service, the convenience and security of Visa’s payment network make it an ideal option for managing your tax-related expenses.