Updated on Tuesday, February 4, 2025: Yup, it’s time again to start thinking about filing our tax returns for last year’s earnings. If you typically use TurboTax or are considering trying out their software for the first time, here’s a look at all of their current deals available this month:
1) TurboTax Early Bird Discount + Extra 20% Off
TurboTax is offering an additional 20% discount on federal products purchased directly through Intuit. This deal applies exclusively to TurboTax Online versions and federal tax products, not state returns. The savings can be combined with early-season discounts on select “Live Assist” versions, making it an excellent option for early filers. However, the offer cannot be used alongside other TurboTax promotions and expires on February 28, 2025.
2) New to TurboTax? Then You Get to File For Free!
If you didn’t file your tax return using TurboTax last year, now is your chance to file for free in 2025! No matter how complex your taxes may be, you can file all forms at no cost when you use the official TurboTax mobile app. Just be sure to file by February 18, 2025, to take advantage of this special offer. Whether you’re a first-time filer or just switching from another service, TurboTax has you covered. Just note, this offer excludes TurboTax Live editions.
3) TurboTax Offers A Lower Price Than Your Last Tax Preparer
TurboTax Full Service is offering a guaranteed minimum 10% discount on your 2023 tax prep fees. If you used a CPA or licensed tax professional for last year’s return, you can lock in this savings by enrolling by March 18, 2025, and filing by March 25, 2025. TurboTax will determine your price based on either 10% off your prior fees or its standard Full Service rate—whichever is lower. Proof of fees may be required to confirm eligibility. This deal applies exclusively to personal tax filings and cannot be combined with other promotions.
4) TurboTax Freedom Edition for Military Members
TurboTax continues to support active-duty military members (ranks E1 through E9) by providing free access to its software for the 2025 tax season. Higher-ranking members can still access a significant discount, but the Freedom Edition is no longer free for them. To qualify, you’ll need to provide a military W-2 form from the 2024 fiscal year. This program is a valuable resource for those serving in the armed forces.
5) Partner Discounts with Banks and Credit Unions
TurboTax frequently collaborates with financial institutions to provide exclusive deals. These offers are often accessible through the online portals of participating banks or credit unions, typically under sections like “deals” or “partnerships.” Check with your financial institution, such as Bank of America, AAA, BECU or Fidelity Investments to see if you’re eligible for additional savings.
6) TurboTax Free Edition for Simple Returns
For those with uncomplicated tax situations, the TurboTax Free Edition allows you to file both federal and state taxes at no cost. This option is designed for straightforward returns, such as Form 1040 filings, and supports limited credits like the Earned Income Tax Credit (EITC), the Child Tax Credit, and the Student Loan Interest Deduction. Unfortunately, only about 37% of taxpayers qualify for the Free Edition, as it does not cover more complex filings, such as those involving business income, itemized deductions, or investments. If you qualify, it’s a practical way to save on filing costs.
7) H&R Block’s Competing Discount
For those considering alternatives, H&R Block is offering a 20% discount on all versions of its tax software through February 28, 2025. Options include Basic, Deluxe + State, Premium, and Premium & Business. One convenient feature is the ability to import last year’s tax return data from TurboTax in seconds using a .tax or PDF file.
TurboTax Discounts for U.S. Bank Customers in 2025
If you’re a U.S. Bank customer, you’re in luck—TurboTax is continuing its tradition of offering a 20% discount on federal tax products. To access the savings, log in to your U.S. Bank online account and follow the link provided. Note that this deal applies only to federal products, not state filings. Terms and conditions apply, and the offer cannot be combined with other promotions. Pricing and features may change, so check your account for the most up-to-date details.
U.S. Bank: Overview and Tax-Season Resources
Background and History
U.S. Bank, headquartered in Minneapolis, Minnesota, is the fifth-largest commercial bank in the United States. With over 3,000 branches nationwide, the bank offers a broad range of financial services, including personal banking, loans, and investment options. Established in 1863, U.S. Bank has grown to become a reliable financial partner for millions of Americans. Its services cater to individuals, small businesses, and corporations, making it a versatile institution for diverse financial needs.
How to Sign Up for U.S. Bank
Opening an account with U.S. Bank is straightforward. You can visit a local branch or complete the process online through their website. To get started, you’ll need personal identification, proof of address, and an initial deposit, which varies depending on the type of account you’re opening. Once your account is set up, you gain access to various features, including online and mobile banking.
Tax Documents for U.S. Bank Customers
If you’re a U.S. Bank customer, accessing your tax documents is a simple process. The bank provides digital access to important forms like 1098 and 1099 statements. These forms are available through the online banking portal or mobile app:
- Online Banking Steps: Log in, select “My Documents,” and choose the type of document you need. You can view recent documents or search for older ones.
- Mobile App Steps: Open the main menu, choose “Statements & Docs,” and select the account and document type you wish to review. Use the search function for easy navigation.
These features are especially helpful during tax season, as they ensure you have quick access to the paperwork needed for filing.
Key Dates for the 2025 Tax Season
Staying organized is critical during tax season. Here are some important deadlines to remember:
- January 31, 2025: Deadline for employers to mail W-2 forms and for financial institutions to send 1099 forms.
- April 15, 2025: Deadline for individual tax returns and contributions to IRA or HSA accounts for the 2024 tax year.
- June 15, 2025: Filing deadline for U.S. citizens living abroad.
- October 16, 2025: Extended filing deadline for those who requested an extension.
Documents You’ll Need to File
Gathering the right documents can make the filing process smoother. Here’s a checklist of what you might need:
- W-2 Forms: Shows tax withheld from your paycheck.
- 1099 Forms: Covers additional income sources like interest, investments, or real estate sales.
- 1098 Forms: Tracks interest payments on loans, such as mortgages or student loans.
- Form 5498: Documents IRA contributions.
- Form 1095-A: Proves enrollment in health insurance coverage.
Benefits and Drawbacks of U.S. Bank
U.S. Bank offers several advantages, including a robust online banking platform, widespread branch locations, and a variety of account options. Additionally, its partnership with TurboTax provides customers with valuable tax-season discounts. However, some customers may find its fees higher than those of smaller credit unions or online-only banks. It’s worth comparing options to see if U.S. Bank aligns with your financial needs.
Additional Tax Resources
If you need help filing your taxes, free resources are available. The IRS offers programs like Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE). These services are designed for those who earn less than $58,000 annually, have disabilities, or face language barriers. They provide in-person assistance to ensure accurate filings.
For those managing taxes independently, the IRS website offers a range of tools to help you file and track your return. Whether you need forms, calculators, or step-by-step guides, these resources can simplify the process.