These 2 Banking Apps Say They'll Help You File Your Taxes for Free
KEY POINTS
- You can save over $100 by filing 2024 taxes for free on Chime or Cash App.
- Both apps are authorized by the IRS and let you check your refund status online.
- Downsides include limited customer service and potential glitches.
Tired of paying to file your taxes? Me, too. I file my own tax returns. Thanks to tax-filing platforms like TurboTax, I can typically knock it out in a day. But it's expensive. I paid hundreds of dollars to file fairly uncomplicated taxes in 2024. There's got to be a better way.
Enter Chime and Cash App, two banking apps that say they'll help you file your taxes for free in tax year 2024. The idea is, you'll be so delighted by the free experience, you'll stick around for other features -- like using Chime or Cash App savings accounts.
This kind of perk is rare, and it's fairly new. Here's what we know about filing taxes through Chime and Cash App, including what it's like, who can use it, and whether it's really free.
What it's like to file
Cash App lets you file simple and complicated taxes for free. You can estimate your refund in-app before filing. If you decide to file, you can do so through the app or on desktop, your choice. The mobile interface is uncomplicated and easy to use.
Chime lets users file through the app. (You must download the app to file.) In 2025, Chime plans to unroll the tax filing to all Chime users. It partners with Column Tax to offer the service.
Cash App Taxes and Chime Taxes reviews are mixed -- some users are pleased at how quickly returns are accepted. Others complain about it taking weeks to receive their refunds.
Who can use free tax filing
Anyone can file taxes by opening a free Cash App account. There are no special restrictions or fees. You don't need to open a savings account or set up direct deposits.
Chime is a little more restrictive. You must open a free Chime checking account to file taxes through the platform during tax year 2024. For this reason, it's probably easier to file through Cash App exclusively for the free tax benefit.
Is Chime and Cash App taxes really free?
It's actually free. Unlike TurboTax, which attempts to upsell you, neither Chime nor Cash App charge fees. There are no "baked in" fees or a fee to open an account with either app. The biggest cost may be the time you spend filling out your tax forms via the apps.
That said, you do need to open accounts and import forms to file. You can check the status of your refund on the "Where's my refund?" page of the IRS website, just like you can with any other legitimate tax-filing service.
Downsides to filing taxes with banking apps
Banking apps tend to offer limited customer service. Tax-filing software options like TurboTax offer more guidance, if you need it (you may have to pay extra for it).
Cash App has been letting users file taxes since 2021, but Chime is new to the game. Chances are high the process of filing through Chime will be less streamlined than going through a platform that's been doing this for longer, especially if your taxes are complex.
How safe is using a banking app to file taxes?
Your money is relatively safe. Cash App and Chime's filing partners are authorized IRS e-file providers, which means they must comply with U.S. regulatory requirements.
Both Cash App and Chime guarantee you'll get your maximum refund. Chime's partner will match better offers from other tax providers. Cash App will do the same, but only up to $100 ($25 minimum). Most free tax software platforms offer some version of this.
Plus, if the apps make errors calculating your returns, you're covered. Cash App covers you up to $1,000. Chime's partner promises to fully cover any penalties for inaccuracy.
Chime vs. Cash App: Which is better for filing taxes?
Most people may prefer Cash App for filing taxes. It's more established, and the company has had plenty of time to streamline the process and iron out kinks.
Also, Cash App offers full audit defense. If the IRS audits your return, a tax protection specialist will handle communications for free. Cash App partners with Tax Protection Plus, a tax audit defense service, to offer this.
That said, I may use Chime to file in tax year 2024. It's convenient -- I already have a Chime Checking Account -- and audits are rare. Regardless, both apps sound like promising ways to replace paid alternatives.
Our Research Expert
Cole Tretheway is a full-time personal finance writer whose articles have been featured on Motley Fool Money and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.
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