I'm gonna go against the grain here... I used TaxAct last year for my 1099 income and actually preferred it over FreeTaxUSA (which I used the year before). TaxAct has a better interface for tracking year-over-year changes in your business income, which I found helpful. Their expense categorization was more intuitive for me, and their explanations of tax concepts were clearer. Yes, they do push upgrades more, but if you just keep clicking "continue with free" you can still complete everything. And their state filing was only about $5 more than FreeTaxUSA when I filed.

I've used both platforms for 1099 filing and here's my take: FreeTaxUSA is definitely more straightforward with fewer upsells, but TaxAct has better guidance for complex deductions. One thing I'd add that hasn't been mentioned - both platforms let you start your return and save it before committing to pay anything. So you could literally try both, see which interface you prefer, and then complete with whichever feels better. For what it's worth, I ended up sticking with FreeTaxUSA because their customer support was more responsive when I had questions about a specific 1099-MISC form. They answered my email within a few hours, while TaxAct took 2 days to respond. Also, pro tip: regardless of which platform you choose, make sure you're keeping good records of ALL business expenses throughout the year. I use a simple spreadsheet and it saves me hours during tax season.

I'm a bit confused about all this. If I was born in 1962, does that mean I don't have to take money out of my 401k until I'm 75? What happens to the RMD tables between now and 2033? Will they just keep the old ones until then?

I've been following this thread closely as someone in a similar situation, and I wanted to add some practical context about planning with these future changes. Even though the age 75 requirement won't kick in until 2033, it's worth considering how this affects your overall retirement withdrawal strategy now. One thing I learned from my financial planner is that the delayed RMD age might actually create some tax planning challenges. If you're waiting until 75 to start required withdrawals, you could end up with larger account balances that force bigger RMDs when they do start. This could potentially push you into higher tax brackets in your later 70s and 80s. The key is thinking about voluntary distributions in your early 70s to manage your tax bracket, especially if you have other income sources like Social Security or pensions that will increase your taxable income over time. The flexibility to choose when to start taking money out (versus being forced to) is actually a valuable planning tool. Has anyone else considered how these changes might affect their overall tax strategy, not just the technical compliance with RMD rules?

Has anyone used both H&R Block and FreeTaxUSA? I'm considering switching permanently next year and wondering how they compare. Is FreeTaxUSA actually good or just cheaper?

I made this exact switch last month and can confirm it works perfectly! H&R Block's inability to e-file Form 8915-E was such a frustrating surprise after completing everything. FreeTaxUSA handled the 8915-E form without any issues and I was able to e-file successfully. The interface is definitely more basic than H&R Block - it's more like filling out the actual tax forms rather than the interview-style questions - but honestly I found it easier to navigate once I got used to it. One tip: make sure you have your AGI from last year's return handy when you switch, as FreeTaxUSA will ask for it to verify your identity. Also double-check that you're entering the correct distribution amount and date on the 8915-E form since the wording is slightly different between the two platforms. The whole re-entry process took me about an hour, which was way better than dealing with printing and mailing a paper return. My refund was processed normally and I got it via direct deposit in about 10 days after e-filing.

Don't overlook the state estate tax angle. Federal exemptions are high, but states like Massachusetts, Oregon, and Minnesota have much lower exemptions (around $1-3 million). A properly structured trust can help with state estate taxes even if you're below the federal threshold.

This is exactly the kind of comprehensive discussion I was hoping for when I posted this question! Reading through all these responses, I'm realizing that trust planning is way more nuanced than the financial advisor made it sound. A few key takeaways that are helping me understand the basics: 1. The distinction between revocable vs irrevocable trusts is crucial - only irrevocable trusts actually remove assets from the taxable estate 2. There's often a trade-off between estate tax savings and losing the step-up in basis for capital gains 3. At $4.2M, my parents might be more concerned about state estate taxes depending on where they live 4. The generation-skipping transfer tax is something we hadn't even considered but should definitely explore given they have grandchildren I think our next step is to get a proper analysis of their situation before meeting with an estate planning attorney. Some of the tools mentioned here (like taxr.ai) might help us go in more prepared. I also want to research attorneys who specialize specifically in multi-generational planning rather than just general estate work. Thanks everyone for taking the time to share your experiences and knowledge. This community is incredibly helpful for navigating these complex tax situations!

anyone else notice the irs website being extra slow today or is it just me

Code 571 is definitely a positive development! It means the IRS is releasing a previous hold on your account. Usually you'll see this paired with an earlier 570 code that froze things up. Keep checking your transcript - you should see an 846 code (direct deposit date) show up in the next update cycle or two. The wait is almost over!