Updated on Tuesday, February 4, 2025: For anyone using TurboTax during the 2025 tax season, there are several offers and discounts currently available that could save you some money on their tax preparation software. Below is a breakdown of of favorite deals here in February:
1. 20% Discount on TurboTax Online Versions
TurboTax is offering an additional 20% off instant discount all Online versions, which include Basic, Deluxe, Premier, and Self-Employed. This discount is applicable to federal tax products only and excludes state filings. The 20% savings can be combined with early-season discounts, which offer up to 40% off in total on select Full-Service and Assisted “Live” versions of TurboTax. However, keep in mind that this promotion cannot be combined with other TurboTax offers. The deal will be valid until February 28, 2025.
2. Free Filing for First-Time Users
If you’ve never used TurboTax before, or if you skipped it last year, there’s an offer that allows you to file any tax form for free via the TurboTax mobile app. However, this offer is only available if you file by February 18, 2025. It’s important to note that TurboTax Live services are excluded from this promotion.
3. TurboTax Will Beat Your CPA’s Price From Last Year
TurboTax Full Service is offering to beat your 2024 tax prep fees by at least 10% if you enroll and file on time. To be eligible, sign up by March 18, 2025, and file your tax return by March 25, 2025. Your price will be determined by comparing a 10% discount from last year’s fees and TurboTax’s standard pricing—whichever saves you more. Proof of last year’s fees may be required. This promotion covers personal tax filings only and cannot be used with other discounts.
4. Discounts via Financial Institution Partnerships
TurboTax has teamed up with various financial institutions and credit unions in the U.S. to offer exclusive discounts for their customers. To access these deals, you will need to check your bank’s online portal under sections like “deals” or “partnerships.” The terms and availability of these offers vary, so it’s a good idea to explore what your financial institution might be offering for tax season. Some notable partners include Bank of America, Fidelity Investments, AAA, US Bank, Chase and CitiBank. Other previous partners, such as TD Bank, Wells Fargo, Truist Bank, and Capital One, no longer offer their clients a discount on TurboTax software.
5. TurboTax Free Edition for Simple Tax Returns
For those who have basic tax filing needs, TurboTax offers a Free Edition, allowing you to file both your federal and state tax returns at no cost. This edition is designed for simple tax situations like Form 1040 filings and supports limited credits, such as the Earned Income Tax Credit (EITC), Child Tax Credit, and Student Loan Interest Deduction. However, it’s important to note that only around 37% of taxpayers are eligible for this option, as it does not cover more complex situations such as business income, itemized deductions, or investments.
6. TurboTax Freedom Edition for Military Members
Active-duty military members ranked E1 through E9 are eligible to file their taxes for free using TurboTax’s Freedom Edition during the 2025 tax season. This includes both federal and state filings. However, higher-ranking military members are not eligible for the free version, though they can still take advantage of significant discounts. To qualify, service members must provide a military W-2 form from the 2024 fiscal year.
7. H&R Block’s Competing Discount
If you’re considering a different tax preparation service, H&R Block is offering a 20% discount on all of its software versions, including Basic, Deluxe + State, Premium, and Premium & Business. This offer runs until February 28, 2025. A notable feature of H&R Block’s software is its ability to import last year’s tax data from TurboTax, making it a potentially smooth transition for those switching providers.
No TurboTax Discount for TD Bank Customers in 2025
In past years, TD Bank customers could take advantage of discounts on TurboTax products. However, for the 2025 tax season, TD Bank is no longer offering any discount on TurboTax products. A link to last year’s offer is still live, but it no longer applies any discounts.
A Closer Look at TD Bank: History, Benefits, and Services
TD Bank, one of the largest banks in both Canada and the United States, has built a reputation as a reliable financial institution over the years. Founded in 1855 through the merger of The Bank of Toronto and The Dominion Bank, TD Bank has grown significantly. Today, it offers a broad range of banking products and services, including personal banking, small business solutions, wealth management, and commercial banking.
History and Background
TD Bank’s history traces back to its Canadian roots. It was initially formed to serve the growing needs of the Canadian economy, with its headquarters based in Toronto. Over the years, the bank expanded into the U.S. market and has steadily grown its footprint. The bank’s American operations are headquartered in Cherry Hill, New Jersey, and it has become one of the largest banks in the country, with a strong presence along the East Coast.
TD Bank’s commitment to providing accessible and efficient banking services has helped it remain a key player in the North American financial sector. Its customer-centric approach, with a focus on convenience and service, has garnered a loyal customer base.
Sign-Up Process and How to Become a TD Bank Customer
Becoming a TD Bank customer is straightforward. To open an account, you can visit one of the many TD Bank branch locations or sign up online. The sign-up process generally requires providing personal identification information, such as your name, address, date of birth, and a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). If you’re opening an account online, you’ll also need to provide a valid email address and some basic financial information.
After completing the registration process, you’ll gain access to TD Bank’s full range of services, including checking and savings accounts, credit cards, loans, and investment products. TD Bank’s online platform allows for easy account management, and their app offers the convenience of banking on the go.
Benefits and Services Offered by TD Bank
TD Bank offers a variety of products and services that cater to different financial needs. Some of the notable benefits include:
- Convenient banking hours: TD Bank branches are open seven days a week, which sets it apart from many other banks that close on Sundays. This can be a major benefit for individuals with busy schedules who may need to visit the bank on weekends.
- Variety of account options: Whether you’re looking for a simple checking account, a savings account, or a business account, TD Bank has a wide selection to choose from. The bank also offers specialty accounts like the TD Simple Savings and TD Signature Savings accounts, which offer competitive interest rates.
- Credit cards and loans: TD Bank offers a range of credit cards, personal loans, home equity lines of credit, and mortgage products. This makes it a one-stop shop for many financial needs. Their credit cards come with rewards and various benefits, depending on the card you choose.
- Mobile banking and online tools: With a strong digital presence, TD Bank offers excellent mobile banking capabilities, making it easy to transfer funds, pay bills, and check your balance. Their online platform also provides a seamless experience for managing accounts, accessing customer service, and tracking spending.
- Customer service and support: TD Bank has a strong reputation for customer service. Their support team is accessible through phone, email, and live chat, and their website provides helpful resources for common banking issues.
TD Bank’s Drawbacks
While TD Bank has a lot to offer, there are a few drawbacks to consider:
- Higher fees on some accounts: TD Bank’s fees can be higher compared to some other banks, especially when it comes to things like overdraft fees and monthly maintenance fees. Some accounts may also have requirements like maintaining a minimum balance to avoid fees.
- Interest rates on savings accounts: TD Bank’s interest rates for savings accounts, while competitive, may not be the highest available compared to online-only banks. For those seeking the best rates, other banks or credit unions may offer better returns.
- Limited physical locations in some regions: While TD Bank has a strong presence on the East Coast, its reach is not as extensive in other parts of the U.S. This could be a limitation for customers who prefer in-person banking outside the East Coast.
How TD Bank Helps During Tax Season
During tax season, TD Bank offers several resources to help its customers. The bank provides tax-related information through its website, where customers can find important deadlines, access to tax forms, and information on tax deductions and credits. Additionally, TD Bank customers can explore offers related to tax preparation software, such as TurboTax, though this year, TD Bank is no longer offering discounts on TurboTax.
TD Bank also offers financial products designed to help with saving for taxes. The bank’s savings accounts, like the TD Signature Savings account, can be useful for setting aside funds for tax liabilities. Some customers also use TD Bank’s Certificates of Deposit (CDs) to save for specific financial goals, including tax obligations.
Tax Refund Tips for TD Bank Customers
If you’re expecting a tax refund, TD Bank encourages customers to consider saving a portion for the future. Many people tend to spend their refunds quickly, but financial experts recommend saving a larger portion to ensure financial security. TD Bank offers several savings products that can help customers build an emergency fund or prepare for retirement. Accounts like the TD Simple Savings account and TD Signature Savings account provide a secure place to save and earn interest.
Additionally, TD Bank customers can use their tax refund to contribute to an IRA (Individual Retirement Account), which is a great way to start building for retirement. The bank provides several retirement savings options, allowing individuals to start saving for their future with just a small initial deposit.