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Topic: On Line Tax programs  (Read 1564 times)

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On Line Tax programs
« on: December 21, 2021, 09:47:10 AM »
Morning!   My dual national son is now finishing College in the USA and all but uk cash investments are now fully usa compliant.   -  so based on the HUGE costs i have previously paid to unwind PFICs etc i think this is the year for him to move to doing his own taxes on line, as he is 99% sure to stay working over there.   i have had a look at a few programs..  I thought OLT looked fine.  Anything you guys are aware of that I should note?   (i have been an expat for 30 years, so never did proper us taxes and ones now are a bit complicated at the moment)


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Re: On Line Tax programs
« Reply #1 on: December 21, 2021, 11:46:56 AM »
I can't comment on other tax software as I have used TurboTax for almost 30 years but I expect OLT will be fine after having a quick look at it.
Dual USC/UKC living in the UK since May 2016


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Re: On Line Tax programs
« Reply #2 on: December 21, 2021, 03:15:32 PM »
I've heard good things about OLT, but haven't used it myself. I've used TurboTax for some years - I'm not terribly happy with how it works now that I live in the UK (I can make it do what is needed but it's not straightforward), but if your son is fully in the US, it's completely fine. I'm looking at TaxAct this year, which also seems easy to use.

If he qualifies, it's worth looking at the free file options, instead of paying the tax lobbyists: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free


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Re: On Line Tax programs
« Reply #3 on: December 21, 2021, 04:18:35 PM »
Depending on your son's income level, you should look at all the free-file options - I've been converted to Tax Act - mainly because I could use it from here in the UK and register and pay for it without a US billing address.

Good experiences with Tax Act - except it couldn't handle e-filing for me because of GILTI.


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Re: On Line Tax programs
« Reply #4 on: December 22, 2021, 04:00:03 PM »
Been using TaxAct for many years and really like the UI. Have locked in an $18 Federal file fee; providing I complete by the end of February.

This offer may be available for new users' too.


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Re: On Line Tax programs
« Reply #5 on: December 23, 2021, 12:22:02 PM »
Just a follow on:

I use my U.S. debit card (and a U.S. address) for TaxAct payments. Does anyone use a U.K. bank account debit card card, with TaxActs address for billing?
Thanks


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Re: On Line Tax programs
« Reply #6 on: December 23, 2021, 01:36:55 PM »
Yes I use my UK Amex card as follows to pay for TaxAct each year.:

You can pay with a UK credit card without a US mailing address by using what is called a 'white address'  - use only the first line of your UK credit card billing address and for the rest of the address use the TaxAct, city, state & zip code - and voila, the payment goes through!


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Re: On Line Tax programs
« Reply #7 on: December 23, 2021, 02:56:06 PM »
It's good to hear that you can use a U.K payment card. I keep to my U.S. payment card, so as to maintain activity. The bank has updated their T&C's meaning that you have to have a 'customer initiated' transaction within 12 months so as to keep the account from becoming 'dormant'  Using Wise to transfer in/out no longer counts as a 'customer initiated' transaction. Neither does any other automated transaction such as SS, pension payments etc. So apart from check writing or a couple debit card transactions - this is all that can be done.


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Re: On Line Tax programs
« Reply #8 on: December 23, 2021, 03:03:22 PM »
It's good to hear that you can use a U.K payment card. I keep to my U.S. payment card, so as to maintain activity. The bank has updated their T&C's meaning that you have to have a 'customer initiated' transaction within 12 months so as to keep the account from becoming 'dormant'  Using Wise to transfer in/out no longer counts as a 'customer initiated' transaction. Neither does any other automated transaction such as SS, pension payments etc. So apart from check writing or a couple debit card transactions - this is all that can be done.

Wow, that is very strict.
Dual USC/UKC living in the UK since May 2016


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