Updated on Monday, December 23, 2024: Tax season is officially here and TurboTax once again continues to offer various discounts and services, tailored to meet different financial situations, from basic filers to small business owners. Here’s a breakdown of the current offers:
1. Extra 10% Off TurboTax Online Federal Products
TurboTax is providing an additional 10% discount on its online federal tax filing products with instant coupon when purchased directly from Intuit. This offer stacks with the early-season discount of up to 40%, making it especially appealing to those who file early. Keep in mind that this discount does not apply to state tax products and cannot be combined with other promotions. The offer is only valid until January 31, 2025.
2. TurboTax Free Edition for Simple Returns
For those with straightforward tax situations, the TurboTax Free Edition offers a cost-effective solution. It allows eligible taxpayers to file both federal and state returns at no cost. This service is suitable for basic Form 1040 filings and supports limited credits such as:
- Earned Income Tax Credit (EITC)
- Child Tax Credit
- Student Loan Interest Deduction
However, the Free Edition is only available to approximately 37% of taxpayers. It doesn’t support more complex situations like business ownership, itemized deductions, or investment income.
3. 50% Off QuickBooks Solopreneur Bundle
Self-employed individuals and small business owners can take advantage of a 50% discount on the QuickBooks Solopreneur Bundle for the first three months. This reduces the monthly cost from $20 to $10. The bundle simplifies tracking income and expenses, helping filers stay organized throughout the year.
4. TurboTax Freedom Edition for Military Personnel
Active-duty military members ranked E1 through E9 qualify for free access to TurboTax Freedom Edition. This offer covers the specific needs of military taxpayers, such as handling military W-2s. For higher-ranking personnel, the software is not free but includes an additional discount. A military W-2 from fiscal year 2024 is required to qualify for these offers.
5. Partner Discounts Through Financial Institutions
TurboTax often partners with banks and credit unions to provide exclusive discounts to their members. These offers are usually available in the “deals” or “partnerships” sections of the financial institution’s online portal.
TurboTax and Chase: No Discount for 2025
In previous years, TurboTax partnered with Chase to offer special discounts on tax preparation software for Chase customers. Unfortunately, for the 2025 tax season, this collaboration seems to have ended, and Chase customers will no longer receive exclusive TurboTax savings (the discount link still works but the savings are no longer applied).
This change reflects a shift in TurboTax’s promotional strategy, focusing instead on broader partnerships and direct customer discounts. While the discontinuation might disappoint loyal Chase users, there are still opportunities to save through other financial institutions or TurboTax’s public offers.
Chase: History, Background, and Tax Season Relevance
Chase, a subsidiary of JPMorgan Chase & Co., is one of the largest and most recognized banks in the United States. With over 4,700 branches and a wide range of financial products, Chase serves millions of customers. Here’s a closer look at Chase’s role in financial planning and tax preparation:
Key Facts About Chase
- Founded: Chase traces its roots back to 1799, making it one of the oldest financial institutions in the U.S.
- Services: Chase offers checking and savings accounts, credit cards, loans, investment products, and business banking services.
- Reputation: It is known for its robust online banking platform and extensive branch network, making financial services accessible nationwide.
Benefits of Using Chase During Tax Season
Chase provides several tools and resources that can be beneficial during tax season:
- Access to Financial Records: Chase’s online banking platform allows customers to download transaction histories and monthly statements, which are often necessary for filing taxes.
- Tax Document Management: Customers with Chase mortgage or investment accounts receive tax-related documents like 1098 and 1099 forms directly through the online portal.
- Direct Deposit of Tax Refunds: Chase accounts are eligible for direct deposit, allowing customers to receive their tax refunds quickly and securely.
Drawbacks for Tax Season
While Chase offers significant resources, there are some limitations:
- No TurboTax Discounts: As of 2025, Chase no longer provides TurboTax-specific discounts, which had previously been a valuable benefit.
- Fee Structures: Certain Chase accounts may come with fees, such as monthly maintenance charges, which can eat into savings if not managed carefully.
How to Leverage Chase for Tax Season
To maximize Chase’s offerings during tax season:
- Download Financial Statements Early: Gather necessary documents like bank statements and transaction histories to avoid last-minute scrambling.
- Set Up Direct Deposit for Refunds: Ensure your Chase account is ready to receive your refund by providing the correct routing and account numbers.
- Explore Alternative Discounts: Since TurboTax discounts are no longer available, look for other promotions offered through Chase credit card partners or third-party services.
Making the Most of Tax Season Without TurboTax Discounts from Chase
The absence of Chase-specific TurboTax discounts means customers should explore other ways to save on tax preparation:
- Compare Tax Software: Evaluate alternatives to TurboTax, such as H&R Block or TaxAct, which may offer competitive pricing or discounts.
- Leverage Public Offers: TurboTax’s direct discounts, like the 10% off federal products or Free Edition for simple returns, are still available to all users.
- Check Financial Institution Perks: Many banks and credit unions still offer TurboTax discounts. If you bank with another institution, check their website for deals.
Final Thoughts on TurboTax, Chase, and Tax Preparation for 2025
Tax season can be overwhelming, but the right tools and resources make a significant difference. TurboTax remains a leading choice for tax preparation, offering tailored services and discounts for different financial needs. However, the loss of Chase-specific discounts highlights the importance of staying informed about changing offers and exploring alternative savings opportunities.
For Chase customers, the bank still provides valuable support during tax season, from easy access to financial records to secure direct deposit options. By planning ahead and staying organized, you can navigate tax season efficiently and take advantage of the resources available to you.