Check out my latest video reviewing TurboTax 2016. I go through the installation process and walk through all the different screens so you know exactly what to expect. This will be familiar to anyone who has used TurboTax in past years and provides a good overview for anyone new to TurboTax.
This review is for TurboTax 2016, which is used for filing your tax return that’s due on April 18, 2017. While I go over the Home & Business edition in the video, this review applies to all desktop editions of TurboTax.
Important Tax Dates
These are some of the most important tax dates for filing your 2016 tax return. Note the filing deadline is April 18 because April 15 falls on a Saturday and the following Monday, April 17, is Emancipation Day, a legal holiday in Washington, D.C. This pushes the filing deadline to midnight on April 18, 2017.
Note also that a new law requires the IRS to hold refunds for people claiming the Earned Income Tax Credit or the Additional Child Tax Credit until February 15. The IRS has stated these tax payers should not to expect their refund to reach them before the week of February 27.
- IRS begins accepting electronic returns: January 23, 2017
- Refunds held by IRS for those claiming certain credits until: February 15, 2017
- Regular Tax Return Deadline: April 18, 2017
- Extended Tax Return Deadline: October 17, 2017
- Amended Tax Return Deadline: 3 years after your original submission
- Tax documents are required to be mailed to you by January 31, 2017
Where to get TurboTax
There are four desktop editions of TurboTax, plus several online versions. Read this article if you want to learn more about the differences between the desktop and online versions of TurboTax.
For most people, especially those who need to file a state tax return in addition to a federal return, the desktop version is a better deal after accounting for all the additional fees to file a state return using the online version.
This comparison chart will help you decide which edition of TurboTax you should get. It compares features and prices of all desktop editions.