Skip To Main Content
TurboTax / Tax Calculators & Tips / Tax Tips Guides & Videos / Tax Refund / Tax Law Changes That Can Fatten Your Refund

Tax Law Changes That Can Fatten Your Refund

Written by a TurboTax Expert • Reviewed by a TurboTax CPAUpdated for Tax Year 2024 • October 16, 2024 2:24 AM
OVERVIEW

Some changes to tax relief options and forms could mean good things for your refund. Learn about a few basic steps you can take in areas such as your retirement account and energy spending to potentially see an increase.

Key Takeaways

  • For 2024, the Standard Deduction increased to $14,600 for those filing as single or married filing separately, to $21,900 for Head of Household, and $29,200 for married filing jointly. For 2023, these amounts are $13,850 for Single and Married Filing Separately, $20,800 for Head of Household and $27,700 for Married Filing Jointly. The Standard Deduction is greater for the elderly and the blind.
  • To adjust for inflation, the IRS has raised the income limits for all tax brackets for 2024.
  • The age for required minimum distributions, or RMDs, has been raised from 72 to 73 beginning in 2023 for those not already required to take RMDs. Those with traditional IRAs can make contributions past the age of 70.5 beginning in 2020.
  • The 2024 maximum employee contribution amount for 401(k)s, 403(b)s, 457 plans has increased to $23,300. The SIMPLE IRA contribution limit has increased to $16,000. The 2023 amounts are $22,500 for 401(k)s, 403(b)s, 457 plans and to $15,500 for SIMPLE IRAs.

Recent congressional acts have made a number of adjustments to the tax code, and some of these changes may affect your refund. We've rounded up 10 recent and important tax law changes that can potentially increase the amount you are refunded. It's best to review the changes that have occurred every tax year so you can be sure not to miss out on any refund advantages when you file.

1. The American Opportunity Credit changes

The once temporary American Opportunity Credit has now been made permanent. Depending on income and filing status, taxpayers who pay college-related costs for themselves, a spouse, a child, or another dependent can receive a credit for up to $2,500 in tuition and related expenses, such as course materials.

Here's how it works: You get a credit for 100% of the first $2,000 you spend on post-secondary education. After that, you can claim a credit of 25% of up to the next $2,000. The credit is partially refundable, so if it reduces the taxes you owe below zero, you can receive up to $1,000 in the form of a refund.

2. Retirement account changes

The SECURE Act and the CARES Act have created several tax-law changes for retirement plans. Here are the highlights:

  • The SECURE Act raised the minimum age of RMDs from 70.5 to 72 for anyone who turns 70.5 after 2019. However, the CARES Act allows seniors to forego RMDs in 2020 without penalty.
  • Those with traditional IRAs can now make contributions past the age of 70.5 beginning in 2020.
  • Taxpayers who are having a baby or adopting a child can now take IRA and 401(k) payouts of up to $5,000 (per parent) without paying the 10% penalty.
  • For the 2020 tax year, taxpayers under 59.5 years of age can take IRA and 401(k) payouts of up to $100,000 for coronavirus-related expenses without paying the 10% penalty. Additionally, the coronavirus-related distribution can be included in income in equal amounts over a three-year period. The taxpayer has three years to put the money back into the accounts in order to undo the tax consequences of the distribution.
  • Retirement plan loans that were due in 2020 are delayed for one year.
  • The 2024 maximum employee contribution amount for 401(k)s, 403(b)s, 457 plans has increased to $23,000, and SIMPLE IRAs has also increased to $16,000. Additionally, the income ceilings on Roth IRA contributions have increased and is based on your adjusted gross income (AGI). The 2023 amounts are $22,500 for 401(k)s, 403(b)s, 457 plans and to $15,500 for SIMPLE IRAs.

3. Standard Deduction increase

The Standard Deduction is also undergoing tax law changes in 2024.

2024 amounts:

Filing StatusStandard Deduction
Married filing jointly under the age of 65$29,200
Married filing jointly over the age of 65$29,200 plus $1,550 for each spouse over the age of 65
Single or married filing separately under the age of 65$14,600
Single or married filing separately over the age of 65$16,550
Heads of household under the age of 65$21,900
Heads of household over the age of 65$23,850

2023 amounts:

Filing StatusStandard Deduction
Married filing jointly under the age of 65$27,700
Married filing jointly over the age of 65$27,700 plus $1,500 for each spouse over the age of 65
Single or married filing separately under the age of 65$13,850
Single or married filing separately over the age of 65$15,700
Heads of household under the age of 65$20,800
Heads of household over the age of 65$22,650

4. Tax bracket changes

The IRS has adjusted the 2024 income limits for all tax brackets:

Filing status and incomeMarginal Tax Rate
Single over $609,350

Married filing jointly over $731,200

37%
Single over $243,725 to $609,350

Married filing jointly over $487,450 to $731,200

35%
Single over $191,950 to $243,725

Married filing jointly over $383,900 to $487,450

32%
Single over $100,525 to $191,950

Married filing jointly over $201,050 to $383,900

24%
Single over $47,150 to $100,525

Married filing jointly over $94,300 to $201,050

22%
Single over $11,600 to $47,150

Married filing jointly over $23,200 to $94,300

12%
Single up to $11,600

Married filing jointly up to $23,200

10%

The 2023 income limits for all tax brackets:

Filing status and incomeMarginal Tax Rate
Single over $578,125

Married filing jointly over $693,750

37%
Single over $231,250 to $578,125

Married filing jointly over $462,500 to $693,750

35%
Single over $182,100 to $231,250

Married filing jointly over $364,200 to $462,500

32%
Single over $95,375 to $182,100

Married filing jointly over $190,750 to $364,200

24%
Single over $44,725 to $95,375

Married filing jointly over $89,450 to $190,750

22%
Single over $11,000 to $44,725

Married filing jointly over $22,000 to $89,450

12%
Single up to $11,000

Married filing jointly up to $22,000

10%

 

TurboTax Tip:

For tax years 2022 through 2032, you may be able to claim a credit worth 30% of the cost of certain energy-efficient equipment installed in your home, including solar water heaters, solar panels, fuel cells, and wind turbines. The credit is not refundable, but the excess can be carried forward to future tax years.

 

5. Charitable cash donation changes

For 2020 and 2021, the CARES Act suspended the 60% of AGI limit for most charitable cash deductions, which allows for more deductions by taxpayers who itemize. This does not apply if the cash donations go to a donor-advised fund or private nonoperating foundation. Additionally, taxpayers who don't itemize can deduct qualified charitable cash contributions up to $300 in 2020 and 2021 regardless of filing status and up to $600 in 2021 if married filing jointly.

For 2023 and 2024 you will need to itemize your deductions to claim your charitable contributions.

6. W-4 changes

In 2020, the IRS changed the Form W-4. Workers no longer claim withholding allowances on the form. The new Form W-4 is now simplified and requires information about filing status, number of dependents, number of jobs, estimated tax breaks, and other income that may be reported on a 1040. Employees are not required to submit a new Form W-4 unless they are hired after 2019 or want to adjust their withholdings.

7. Form 1099-MISC and Form 1099-NEC changes

For tax year 2020 and onward, Form 1099-MISC has been revamped and Form 1099-NEC is back. Because of these changes, employers will no longer report nonemployee compensation of $600 or more on Form 1099-MISC. These types of payments to non-employees should be reported on a Form 1099-NEC. These payments include commissions, fees, prizes, awards, or any form of compensation to nonemployees. These forms should be given to the payee and filed with the IRS by January 31 each year.

The IRS is gradually phasing in new 1099-K reporting requirements for payments from third-party processors like Venmo and Paypal. In 2021, Congress changed the reporting threshold from over $20,000 in payments and more than 200 transactions to over $600 in payments regardless of the number of transactions. But instead of using the new $600 threshold right away, the IRS applied the previous reporting threshold for the 2022 and 2023 tax years. For the 2024 tax year, the IRS plans to use a $5,000 threshold, regardless of the number of transactions. The tax agency hasn’t announced its plans for after 2024 yet. On the other hand, some states have already started using the $600 threshold for their own reporting requirements.

There is no threshold for payment card transactions.

8. Long-term care premium deduction changes

For taxpayers who itemize on Schedule A or self-employed taxpayers who complete a Schedule 1 of Form 1040, the limits for long-term care premium deductions are:

2024 amounts:

  • Age 40 or under: $470
  • Age 41 to 50: $880
  • Age 51 to 60: $1,760
  • Age 61 to 70: $4,710
  • Age 71 and over: $5,880

2023 amounts:

  • Age 40 or under: $480
  • Age 41 to 50: $890
  • Age 51 to 60: $1,790
  • Age 61 to 70: $4,770
  • Age 71 and over: $5,960

9. Alternative Minimum Tax (AMT) changes

In early 2013, Congress made the AMT "patch" permanent to prevent millions of taxpayers from having to pay AMT in 2013 and beyond.

The exemption amounts for 2024 are:

  • $85,700 for Single and Head of Household filers
  • $133,300 for married couples filing jointly and surviving spouses
  • $66,650 for married people filing separately

The exemption amounts for 2023 are:

  • $81,300 for Single and Head of Household filers
  • $126,500 for married couples filing jointly and surviving spouses
  • $63,250 for married people filing separately

10. Energy-efficiency credit changes

If you installed certain energy-efficient equipment in your home, such as solar water heaters, solar panels, fuel cells, and wind turbines, you may be able to claim a credit worth 26% of the expense in tax years 2020 and 2021. The credits jump back up to 30% beginning in 2022 through 2032. After this it goes back down to 26% for 2033 and to 22% in 2034. The credit expires after 2034. The credit is not refundable, but the excess can be carried forward to future tax years.

With TurboTax Live Full Service, a local expert matched to your unique situation will do your taxes for you start to finish. Or, get unlimited help and advice from tax experts while you do your taxes with TurboTax Live Assisted.

And if you want to file your own taxes, you can still feel confident you'll do them right with TurboTax as we guide you step by step. No matter which way you file, we guarantee 100% accuracy and your maximum refund.

Taxes done right,
with experts by your side
$89*

Get unlimited advice, an expert final review and your maximum refund, guaranteed.

State additional
100% free filing.
Max refund guarantee.$0

~37% of filers qualify. Simple Form 1040 returns only (no schedules except for Earned Income Tax Credit, Child Tax Credit and student loan interest).

The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.

TaxCaster Tax
Calculator

Estimate your tax refund and where you stand

I’m a TurboTax customer

I’m a new user

Tax Bracket
Calculator

Easily calculate your tax rate to make smart financial decisions

Get started

W-4 Withholding
Calculator

Know how much to withhold from your paycheck to get a bigger refund

Get started

Self-Employed
Tax Calculator

Estimate your self-employment tax and eliminate any surprises

Get started

Crypto Calculator

Estimate capital gains, losses, and taxes for cryptocurrency sales

Get started

Self-Employed Tax Deductions Calculator

Find deductions as a 1099 contractor, freelancer, creator, or if you have a side gig

Get started

ItsDeductible™

See how much your charitable donations are worth

Get started

Your security. Built into everything we do.

Here's how

File faster and easier with the free TurboTax app

TurboTax Online: Important Details about Filing Simple Form 1040 Returns

If you have a simple Form 1040 return only (no forms or schedules except as needed to claim the Earned Income Tax Credit, Child Tax Credit or student loan interest), you can file for free yourself with TurboTax Free Edition, or you can file with TurboTax Live Assisted Basic at the listed price. Roughly 37% of taxpayers are eligible.

Examples of situations included in a simple Form 1040 return (assuming no added tax complexity):

  • W-2 income
  • Interest, dividends or original issue discounts (1099-INT/1099-DIV/1099-OID) that don’t require filing a Schedule B
  • IRS standard deduction
  • Earned Income Tax Credit (EITC)
  • Child Tax Credit (CTC)
  • Student loan interest deduction
  • Taxable qualified retirement plan distributions

Examples of situations not included in a simple Form 1040 return:

  • Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and local tax deductions
  • Unemployment income reported on a 1099-G
  • Business or 1099-NEC income (often reported by those who are self-employed, gig workers or freelancers)
  • Stock sales (including crypto investments)
  • Income from rental property or property sales
  • Credits, deductions and income reported on other forms or schedules 

TURBOTAX ONLINE GUARANTEES

TurboTax Individual Returns:

  • 100% Accurate Calculations Guarantee – Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest. Excludes payment plans. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax. Excludes TurboTax Business returns. Additional terms and limitations apply. See Terms of Service for details.

  • Maximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back – Individual Returns: If you get a larger refund or smaller tax due from another tax preparation method by filing an amended return, we'll refund the applicable TurboTax federal and/or state purchase price paid. (TurboTax Free Edition customers are entitled to payment of $30.) This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax. Excludes TurboTax Business returns. Additional terms and limitations apply. See Terms of Service for details.

  • Audit Support Guarantee – Individual Returns: If you receive an audit letter from the IRS or State Department of Revenue based on your 2023 TurboTax individual tax return, we will provide one-on-one question-and-answer support with a tax professional, if requested through our Audit Support Center, for audited individual returns filed with TurboTax for the current 2023 tax year and for individual, non-business returns for the past two tax years (2022, 2021). Audit support is informational only. We will not represent you before the IRS or state tax authority or provide legal advice. If we are not able to connect you to one of our tax professionals, we will refund the applicable TurboTax federal and/or state purchase price paid. (TurboTax Free Edition customers are entitled to payment of $30.) This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax. Excludes TurboTax Business returns. Additional terms and limitations apply. See Terms of Service for details.

  • Satisfaction Guaranteed: You may use TurboTax Online without charge up to the point you decide to print or electronically file your tax return. Printing or electronically filing your return reflects your satisfaction with TurboTax Online, at which time you will be required to pay or register for the product.

  • Our TurboTax Live Full Service Guarantee means your tax expert will find every dollar you deserve. Your expert will only sign and file your return if they believe it's 100% correct and you are getting your best outcome possible. If you get a larger refund or smaller tax due from another tax preparer, we'll refund the applicable TurboTax Live Full Service federal and/or state purchase price paid. If you pay an IRS or state penalty (or interest) because of an error that a TurboTax tax expert or CPA made while acting as a signed preparer for your return, we'll pay you the penalty and interest. Limitations apply. See Terms of Service for details.

  • 100% Accurate Expert-Approved Guarantee: If you pay an IRS or state penalty (or interest) because of an error that a TurboTax tax expert or CPA made while providing topic-specific tax advice, a section review, or acting as a signed preparer for your return, we'll pay you the penalty and interest. Limitations apply. See Terms of Service for details.

TurboTax Business Returns:

  • 100% Accurate Calculations Guarantee – Business Returns. If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest. Excludes payment plans. You are responsible for paying any additional tax liability you may owe. Additional terms and limitations apply. See Terms of Service for details.

  • TurboTax Audit Support Guarantee – Business Returns. If you receive an audit letter from the IRS or State Department of Revenue on your 2023 TurboTax business return, we will provide one-on-one question-and-answer support with a tax professional, if requested through our Audit Support Center, for audited business returns filed with TurboTax for the current 2023 tax year. Audit support is informational only. We will not represent you before the IRS or state tax authority or provide legal advice. If we are not able to connect you to one of our tax professionals for this question-and-answer support, we will refund the applicable TurboTax Live Business or TurboTax Live Full Service Business federal and/or state purchase price paid. Additional terms and limitations apply. See Terms of Service for details.

TURBOTAX ONLINE/MOBILE PRICING

  • Start for Free/Pay When You File: TurboTax online and mobile pricing is based on your tax situation and varies by product. For most paid TurboTax online and mobile offerings, you may start using the tax preparation features without paying upfront, and pay only when you are ready to file or purchase add-on products or services. Actual prices for paid versions are determined based on the version you use and the time of print or e-file and are subject to change without notice. Special discount offers may not be valid for mobile in-app purchases. Strikethrough prices reflect anticipated final prices for tax year 2023.

  • TurboTax Free Edition:TurboTax Free Edition ($0 Federal + $0 State + $0 To File) is available for those filing Simple Form 1040 returns only (no forms or schedules except for the Earned Income Tax Credit, Child Tax Credit and student loan interest), as detailed in the TurboTax Free Edition disclosures. Roughly 37% of taxpayers qualify. Offer may change or end at any time without notice.

  • TurboTax Live Assisted Basic Offer: Offer only available with TurboTax Live Assisted Basic and for those filing Form 1040 and limited credits only. Roughly 37% of taxpayers qualify. Must file between November 29, 2023 and March 31, 2024 to be eligible for the offer. Includes state(s) and one (1) federal tax filing. Intuit reserves the right to modify or terminate this TurboTax Live Assisted Basic Offer at any time for any reason in its sole and absolute discretion. If you add services, your service fees will be adjusted accordingly. If you file after 11:59pm EST, March 31, 2024, you will be charged the then-current list price for TurboTax Live Assisted Basic and state tax filing is an additional fee. See current prices here.

  • Full Service $100 Back Offer: Credit applies only to federal filing fees for TurboTax Full Service and not returns filed using other TurboTax products or returns filed by Intuit TurboTax Verified Pros. Excludes TurboTax Live Full Service Business and TurboTax Canada products. Credit does not apply to state tax filing fees or other additional services. If federal filing fees are less than $100, the remaining credit will be provided via electronic gift card. Intuit reserves the right to modify or terminate this offer at any time for any reason in its sole discretion. Must file by April 15, 2024 11:59 PM ET.

  • TurboTax Full Service - Forms-Based Pricing: “Starting at” pricing represents the base price for one federal return (includes one W-2 and one Form 1040). Final price may vary based on your actual tax situation and forms used or included with your return. Price estimates are provided prior to a tax expert starting work on your taxes. Estimates are based on initial information you provide about your tax situation, including forms you upload to assist your expert in preparing your tax return and forms or schedules we think you’ll need to file based on what you tell us about your tax situation. Final price is determined at the time of print or electronic filing and may vary based on your actual tax situation, forms used to prepare your return, and forms or schedules included in your individual return. Prices are subject to change without notice and may impact your final price. If you decide to leave Full Service and work with an independent Intuit TurboTax Verified Pro, your Pro will provide information about their individual pricing and a separate estimate when you connect with them.

  • Pays for itself (TurboTax Premium, formerly Self-Employed): Estimates based on deductible business expenses calculated at the self-employment tax income rate (15.3%) for tax year 2022. Actual results will vary based on your tax situation.

TURBOTAX ONLINE/MOBILE

  • Anytime, anywhere: Internet access required; standard data rates apply to download and use mobile app.

  • Fastest refund possible: Fastest tax refund with e-file and direct deposit; tax refund time frames will vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.

  • Get your tax refund up to 5 days early: Individual taxes only. When it’s time to file, have your tax refund direct deposited with Credit Karma Money™, and you could receive your funds up to 5 days early. If you choose to pay your tax preparation fee with TurboTax using your federal tax refund or if you choose to take the Refund Advance loan, you will not be eligible to receive your refund up to 5 days early. 5-day early program may change or discontinue at any time. Up to 5 days early access to your federal tax refund is compared to standard tax refund electronic deposit and is dependent on and subject to IRS submitting refund information to the bank before release date. IRS may not submit refund information early.

  • For Credit Karma Money (checking account): Banking services provided by MVB Bank, Inc., Member FDIC. Maximum balance and transfer limits apply per account.
  • Fees: Third-party fees may apply. Please see Credit Karma Money Account Terms & Disclosures for more information.

  • Pay for TurboTax out of your federal refund or state refund (if applicable): Individual taxes only. Subject to eligibility requirements. Additional terms apply. A $40 Refund Processing Service fee may apply to this payment method. Prices are subject to change without notice.

  • TurboTax Help and Support: Access to a TurboTax product specialist is included with TurboTax Deluxe, Premium, TurboTax Live Assisted and TurboTax Live Full Service; not included with Free Edition (but is available as an upgrade). TurboTax specialists are available to provide general customer help and support using the TurboTax product. Services, areas of expertise, experience levels, wait times, hours of operation and availability vary, and are subject to restriction and change without notice. Limitations apply See Terms of Service for details.
  • Tax Advice, Expert Review and TurboTax Live: Access to tax advice and Expert Review (the ability to have a Tax Expert review and/or sign your tax return) is included with TurboTax Live Assisted or as an upgrade from another version, and available through December 31, 2024. Intuit will assign you a tax expert based on availability. Tax expert and CPA availability may be limited. Some tax topics or situations may not be included as part of this service, which shall be determined in the tax expert’s sole discretion. For the TurboTax Live Assisted product, if your return requires a significant level of tax advice or actual preparation, the tax expert may be required to sign as the preparer at which point they will assume primary responsibility for the preparation of your return. For the TurboTax Live Full Service product: Handoff tax preparation by uploading your tax documents, getting matched with an expert, and meeting with an expert in real time. The tax expert will sign your return as a preparer. The ability to retain the same expert preparer in subsequent years will be based on an expert’s choice to continue employment with Intuit. Administrative services may be provided by assistants to the tax expert. On-screen help is available on a desktop, laptop or the TurboTax mobile app. Unlimited access to TurboTax Live tax experts refers to an unlimited quantity of contacts available to each customer, but does not refer to hours of operation or service coverage. Service, area of expertise, experience levels, wait times, hours of operation and availability vary, and are subject to restriction and change without notice.

  • TurboTax Live Full Service – Qualification for Offer: Depending on your tax situation, you may be asked to answer additional questions to determine your qualification for the Full Service offer. Certain complicated tax situations will require an additional fee, and some will not qualify for the Full Service offering. These situations may include but are not limited to multiple sources of business income, large amounts of cryptocurrency transactions, taxable foreign assets and/or significant foreign investment income. Offer details subject to change at any time without notice. Intuit, in its sole discretion and at any time, may determine that certain tax topics, forms and/or situations are not included as part of TurboTax Live Full Service. Intuit reserves the right to refuse to prepare a tax return for any reason in its sole discretion. Additional limitations apply. See Terms of Service for details.

  • TurboTax Live Full Service - File your taxes as soon as today: TurboTax Full Service Experts are available to prepare 2023 tax returns starting January 8, 2024. Based on completion time for the majority of customers and may vary based on expert availability. The tax preparation assistant will validate the customer’s tax situation during the welcome call and review uploaded documents to assess readiness. All tax forms and documents must be ready and uploaded by the customer for the tax preparation assistant to refer the customer to an available expert for live tax preparation.

  • TurboTax Live Full Service -- Verified Pro -- “Local” and “In-Person”: Not all feature combinations are available for all locations. "Local" experts are defined as being located within the same state as the consumer’s zip code for virtual meetings. "Local" Pros for the purpose of in-person meetings are defined as being located within 50 miles of the consumer's zip code. In-person meetings with local Pros are available on a limited basis in some locations, but not available in all States or locations. Not all pros provide in-person services.

  • Smart Insights: Individual taxes only. Included with TurboTax Deluxe, Premium, TurboTax Live, TurboTax Live Full Service, or with PLUS benefits, and is available through 11/1/2024. Terms and conditions may vary and are subject to change without notice.

  • My Docs features: Included with TurboTax Deluxe, Premium TurboTax Live, TurboTax Live Full Service, or with PLUS benefits and is available through 12/31/2025. Terms and conditions may vary and are subject to change without notice.

  • Tax Return Access: Included with all TurboTax Free Edition, Deluxe, Premium, TurboTax Live, TurboTax Live Full Service customers and access to up to the prior seven years of tax returns we have on file for you is available through 12/31/2025. Terms and conditions may vary and are subject to change without notice.

  • Easy Online Amend: Individual taxes only. Included with TurboTax Deluxe, Premium, TurboTax Live, TurboTax Live Full Service, or with PLUS benefits. Make changes to your 2023 tax return online for up to 3 years after it has been filed and accepted by the IRS through 10/31/2026. Terms and conditions may vary and are subject to change without notice. For TurboTax Live Full Service, your tax expert will amend your 2023 tax return for you through 11/15/2024. After 11/15/2024, TurboTax Live Full Service customers will be able to amend their 2023 tax return themselves using the Easy Online Amend process described above.

  • #1 best-selling tax software: Based on aggregated sales data for all tax year 2022 TurboTax products.

  • #1 online tax filing solution for self-employed: Based upon IRS Sole Proprietor data as of 2023, tax year 2022. Self-Employed defined as a return with a Schedule C tax form. Online competitor data is extrapolated from press releases and SEC filings. “Online” is defined as an individual income tax DIY return (non-preparer signed) that was prepared online & either e-filed or printed, not including returns prepared through desktop software or FFA prepared returns, 2022.

  • CompleteCheck: Covered under the TurboTax accurate calculations and maximum refund guarantees. Limitations apply. See Terms of Service for details.
  • TurboTax Premium Pricing Comparison: Cost savings based on a comparison of TurboTax product prices to average prices set forth in the 2020-2021 NSA Fees-Acct-Tax Practices Survey Report.

  • 1099-K Snap and Autofill: Available in mobile app and mobile web only.

  • 1099-NEC Snap and Autofill: Available in TurboTax Premium (formerly Self-Employed) and TurboTax Live Assisted Premium (formerly Self-Employed). Available in mobile app only. Feature available within Schedule C tax form for TurboTax filers with 1099-NEC income.

  • Year-Round Tax Estimator: Available in TurboTax Premium (formerly Self-Employed) and TurboTax Live Assisted Premium (formerly Self-Employed). This product feature is only available after you finish and file in a self-employed TurboTax product.

  • **Refer a Friend: Rewards good for up to 20 friends, or $500 - see official terms and conditions for more details.

  • Refer your Expert (Intuit’s own experts): Rewards good for up to 20 referrals, or $500 - see official terms and conditions for more details.

  • Refer your Expert (TurboTax Verified Independent Pro): Rewards good for up to 20 referrals, or $500 - see official terms and conditions for more details.

  • Average Refund Amount: Sum of $3140 is the average refund American taxpayers received based upon IRS data date ending 2/17/23 and may not reflect actual refund amount received.

  • Average Deduction Amount: Based on the average amount of deductions/expenses found by TurboTax Self Employed customers who filed expenses on Schedule C in Tax Year 2022 and may not reflect actual deductions found.

  • More self-employed deductions based on the median amount of expenses found by TurboTax Premium (formerly Self Employed) customers who synced accounts, imported and categorized transactions compared to manual entry. Individual results may vary.

  • TurboTax Online Business Products: For TurboTax Live Assisted Business and TurboTax Full Service Business, we currently don’t support the following tax situations: C-Corps (Form 1120-C), Trust/Estates (Form 1041), Multiple state filings, Tax Exempt Entities/Non-Profits, Entities electing to be treated as a C-Corp, Schedule C Sole proprietorship, Payroll, Sales tax, Quarterly filings, and Foreign Income. TurboTax Live Assisted Business is currently available only in AK, AZ, CA, CO, CT, DE, FL, GA, IL, KS, MA, MD, ME, MI, MN, MO, NC, NJ, NV, NY, OH, PA, RI, SD, TN, TX, UT, VA, WA, WV and WY.

  • Audit Defense: Audit Defense is a third-party add-on service provided, for a fee, by TaxResources, Inc., dba Tax Audit. See Membership Agreements at https://turbotax.intuit.com/corp/softwarelicense/ for service terms and conditions. 

TURBOTAX DESKTOP GUARANTEES

TurboTax Desktop Individual Returns:

  • 100% Accurate Calculations Guarantee – Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest. Excludes payment plans. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Maximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back – Individual Returns: If you get a larger refund or smaller tax due from another tax preparation method by filing an amended return, we'll refund the applicable TurboTax federal and/or state software license purchase price you paid. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Audit Support Guarantee – Individual Returns: If you receive an audit letter from the IRS or State Department of Revenue based on your 2024 TurboTax individual tax return, we will provide one-on-one question-and-answer support with a tax professional, if requested through our Audit Support Center, for audited individual returns filed with TurboTax Desktop for the current 2024 tax year and, for individual, non-business returns, for the past two tax years (2022, 2023). Audit support is informational only. We will not represent you before the IRS or state tax authority or provide legal advice. If we are not able to connect you to one of our tax professionals, we will refund the applicable TurboTax federal and/or state license purchase price you paid. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop software, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt. Desktop add-on products and services purchased are non-refundable.

TurboTax Desktop Business Returns:

  • 100% Accurate Calculations Guarantee – Business Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest. Excludes payment plans. You are responsible for paying any additional tax liability you may owe. Additional terms and limitations apply. See License Agreement for details.

  • Maximum Tax Savings Guarantee - Business Returns: If you get a smaller tax due (or larger business tax refund) from another tax preparation method using the same data, TurboTax will refund the applicable TurboTax Business Desktop license purchase price you paid. Additional terms and limitations apply. See License Agreement for details.

  • Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop software, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt. Desktop add-on products and services purchased are non-refundable.

TURBOTAX DESKTOP DISCLAIMERS

  • Installation Requirements: Product download, installation and activation requires an Intuit Account and internet connection. Product limited to one account per license code. You must accept the TurboTax License Agreement to use this product. Not for use by paid preparers.

  • TurboTax Desktop Products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees apply for e-filing state returns. E-file fees may not apply in certain states, check here for details. Savings and price comparison based on anticipated price increase. Software updates and optional online features require internet connection. Desktop add-on products and services purchased are non-refundable.

  • Fastest Refund Possible: Get your tax refund from the IRS as fast as possible by e-filing and choosing to receive your refund by direct deposit. Tax refund time frames will vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.

  • Average Refund Amount: $3,207 is the average refund amount American taxpayers received in the 2024 filing season based upon IRS data as of February 16, 2024 and may not reflect actual refund amount received.

  • TurboTax Technical Support: Customer service and technical support hours and options vary by time of year.

  • Deduct From Your Federal Refund: Individual taxes only. Subject to eligibility requirements. Additional terms apply. A $40 Refund Processing Service fee applies to this payment. method. Prices are subject to change without notice.

  • Data Import: Imports financial data from participating companies; Requires Intuit Account. Quicken and QuickBooks import not available with TurboTax installed on a Mac. Imports from Quicken (2022 and higher) and QuickBooks Desktop (2023 and higher); both Windows only. Quicken import not available for TurboTax Desktop Business. Quicken products provided by Quicken Inc., Quicken import subject to change.

  • Live Tax Advice: Access to tax experts to obtain answers to tax questions and to assist with tax year 2024 return(s) prepared with TurboTax Desktop software. Additional fees apply. Must be purchased and used by October 31, 2025. Excludes TurboTax Desktop Business. See License Agreement for details.

  • Audit Defense: Audit Defense is a third-party add-on service provided, for a fee, by TaxResources, Inc., dba Tax Audit. See Membership Agreements at https://turbotax.intuit.com/corp/softwarelicense/for service terms and conditions.

All features, services, support, prices, offers, terms and conditions are subject to change without notice.

©1997-2024 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

Security Certification of the TurboTax Online application has been performed by C-Level Security.

By accessing and using this page you agree to the Terms of Use.