I just bought 2006 Turbo Tax Deluxe program and noticed this. Intuit is giving an option for the federal tax refund [not state] upto $10000 to be used to buy gift cards. They will charge a program fee of $29 for this.
This seems like a good way to get discounted gift cards. And if you don't have a federal refund coming, prepay it this year and you can claim it back next via the gift cards.
To enter a coupon code in your post please enter the following info:
Coupon Code:
Coupon Offer:
Merchant:
Expires (optional):
Restrictions (optional):
saving...
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
"After your federal tax return is electronically filed and the IRS issues your refund, Santa Barbara Bank & Trust will process your refund, disburse any applicable federal and state electronic filing fees and the Program Fee, direct payments to retailers for the cards, and disburse any applicable sales taxes."
Costs are $29.95 + e-filing fees + potential sales tax.
kalpak said:I just bought 2006 Turbo Tax Deluxe program and noticed this. Intuit is giving an option for the federal tax refund [not state] upto $10000 to be used to buy gift cards. They will charge a program fee of $29 for this.
This seems like a good way to get discounted gift cards. And if you don't have a federal refund coming, prepay it this year and you can claim it back next via the gift cards.
Bonus % from 10-100% could be interesting but say if it's like Discover CashBack, a lot are about 20%-25% bonus. To break even with the $30 fee (and possibly e-filing $15 fee for those who would have mailed it normally instead of paying $15), it'll take applying maximum $300(10%)-$30(100%) of refund for those.
Retailer example list seems ok but I'd rather know a bit more before jumping in (basically know where I'll buy what to maximize savings). Could definitely be worth it with a big refund if retailer list is comprehensive and bonus $ are not too low.
I saw this, too. But, I couldn't find anywhere what the percentages are. It sounds like FTD is 100% (but, they're more than double the price of local florists, so that's worthless). It sounds like most will be 10%, and like mentioned earler, unless you order more than $300 in GCs you won't recoup your $30 (plus the e-filing fees). It would have been nice if it was just a $30 fee, and you didn't have to pay the e-filing fee on top of it.
They do mention, the price is subject to change - i.e. if people balk at the price, they may lower it.
Yes I too want to know the exact percentage it is discounted for different retailers. But I wouldn't be too fixated on e-filing fee - I anyway have to pay that for filing my taxes
As folks may recall, last year TurboTax had a deal where you could pay your outstanding taxes with your Discover Card and not have to pay any fee. While that really great deal has not been repeated this year, it does suggest that TurboTax and Discover Card have a working relationship. Given that the list of retailers for this promotion looks almost exactly like the Discover Card list of retailers, I think it's a safe bet that the rebate percentages will be very similar to the Discover Card rebate percentages.
100% bonus partner (ex. allocate $50 from refund and receive $100 in gift cards): FTD.com
20% bonus partner (ex. allocate $100 from refund and receive $120 in gift cards): Expedia.com
17% bonus partners (ex. allocate $85 from refund and receive $100 in gift cards): Blockbuster, Timberland, Linens 'n Things, The Sharper Image, Spa Finder
11% bonus partners (ex. allocate $90 from refund and receive $100 in gift cards): Lowe's Home Improvement, JCPenney, Starbucks Coffee, Bed Bath & Beyond, AMC Theatres, Olive Garden, Red Lobster, Borders, Waldenbooks, Foot Locker, Champs Sports, Applebee's
11% bonus partner: American Express branded shopping card that can only be used with the following merchants: babyGap, Banana Republic, Brooks Brothers, Eddie Bauer®, Express, Gap, GapKids, Lands’ End®, Mimi Maternity®, Motherhood® Maternity, Old Navy, A Pea in the Pod®, spiegel® Catalog, Timberland, Dell Home & Home Office, Tweeter, Bombay Company, Crate and Barrel, Hold Everything, Furniture Rewards, Pier 1 Imports, Pottery Barn®, Pottery Barn Bed & Bath, PBteen™, Restoration Hardware, Telescope Casual Furniture, west elm, William Sonoma®, William Sonoma Home ™, Bath & Body Works®, Crabtree & Evelyn®, Fossil®, LensCrafters®, Sephora, Sunglass Hut, Tourneau Watches, Watch Station, Watch World, Bass Pro Shops®, Discovery Channel Stores, FranklinCovey, Harry and David®, Montblanc, Omaha Steaks, Pro Am Golf Center, Steiner Sports Memorabilia, ticketsnow.com
Ok so its January. How do I get 10k * 120% of expedia gift cards sent to me if I have only a $3000 refund coming back. Round costs off to $45 for entire program (instead of free efiling on IRS website). This is a sweet $1955 of vacation bonus.
UCSDmateo said:Ok so its January. How do I get 10k * 120% of expedia gift cards sent to me if I have only a $3000 refund coming back. Round costs off to $45 for entire program (instead of free efiling on IRS website). This is a sweet $1955 of vacation bonus.
Ideas?
Real simple: Print out a 2005 Form 1040-ES payment voucher and send it in with $7000. Don't worry about the worksheets in the instructions. Just tear off one voucher, fill in the amount you are sending along with your name, address, and SS number and send it to the address in the instructions. Send any amount you like. Claim credit for the payment on line 65 of your Form 1040. (Be careful to use the 2005 version of the form. If you use the 2006 version, you'll have to wait until next year to get a refund.)
Alternatively, fill out Form 4868 and kill two birds with one stone! Just show the estimated tax for 2005 as being $10,000 more than it actually is and send in the check for $7000. Again, claim credit for the $7000 on line 69 of your Form 1040.
Of course, there is a danger if your refund gets held up because of a problem with your tax return or if your refund is confiscated to pay for past-due student loans, child support, etc.
I was looking at the Turbo Tax Refund Bonus Estimator link and it shows the shipping and handling fee as $14.95. Has the price gone down from the $29 referred to in this posting (of course you still have to pay e-file fee)?
If you pay using your credit card, you aviod the fee from the bank and it only costs $14.95 to file. Ofcourse, you could alwasy file by mail, then it would only cost about $2 bucks.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
