H&R Block OnlineTax Preparation Product Giveaway- 5 Winners

Have you filed your taxes yet? Well I just filed mine online using H&R Block's Deluxe online tax preparation service. It was very simple to do. The first thing that I had to to do was set up a user name and password. H&R Block walks you through the whole process step by step. I had to check on the form if I had any life changing events in the year, and then I had to check my filing status. I had to go on and type my name and names of my family and our social security numbers. The program goes on to ask questions to help fill in information on your income, taxes, and deductions. It asks simple questions, and if you have any questions there is a 24 hour 7 day a week online chat that you can use to help you. All in all it was a quick process to get my federal taxes submitted. I chose to e-file, but you do have the option to mail it in as well.

Know Before You File: Tips to Save Taxpayers Time, Money

H&R Block is taking the guesswork out of tax season by offering taxpayers tips to help navigate a 2010 tax return:

1. Education benefits extended -- The American Opportunity Credit was extended, allowing taxpayers to claim $2,500 for the first four years of college education for each student. The tuition and fees deduction also was extended and could provide a reduction in taxable income of up to $4,000.

2. Sandwich generation gets tax relief -- Taxpayers supporting their parents and their own children may be able to claim the $3,650 qualifying relative exemption. Generally, the taxpayer must provide more than 50 percent of the financial support for eligible expenses such as food, lodging, clothing, education, medical and dental care, recreation and transportation.

3. Unemployed are required to file -- All unemployment benefits will be taxed this year, unlike last year when the first $2,400 was tax-free.

4. 2008 homebuyer credit repayment starts, but not for 2009 and 2010 -- The 2008 First-time Homebuyer Credit was similar to an interest-free loan and taxpayers must begin repaying it with their 2010 tax returns. In general, taxpayers must repay $500 a year for 15 years. If the taxpayer no longer lives in the house, then the credit must be repaid in full with the next tax return. Taxpayers who claimed the credit in 2009 and 2010 will not have to repay it unless the house is sold or no longer their principal residence within three years of purchase.

5. Energy credit reduced -- For 2011, the lifetime maximum for the energy property credit is reduced from $1,500 to $500. Taxpayers who never claimed the credit can claim the entire $500. But, those who claimed $500 or more for the 2009-2010 and/or the 2006-2007 energy credits are not eligible in 2011. Eligible improvements include external windows and doors, insulation, roofing, HVAC and non-solar water heaters meeting specific energy guidelines.

6. Adoption Credit fully refundable in 2010 and 2011 -- The Adoption Credit can be claimed for qualified expenses up to $13,170 for 2010 and $13,360 for 2011. Plus, new for 2010 and 2011, the IRS will refund any amount of the credit that exceeds the adoptive parents' tax liability.

7. 2011 federal filing deadline is April 18 -- Due to the observation of Emancipation Day in the District of Columbia on April 15, the filing deadline for federal tax returns is April 18 this year. But, some state filing deadlines will remain April 15.

H&R Block would like to give 5 of my readers a code to save $55 on their online tax preparation. This covered the deluxe edition for me.

Want to win?

Here's how?

Leave a comment telling me if you have ever filed online before.
Extra entries for:
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Please leave separate comments, and direct all other comments or questions to my email.

Please leave an email address so I can contact you if you are the winner. Contest will end on Sunday April 2nd at 8pm.