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H&R Block's TaxCut may not hold your hand as much as its chief rival, but it's fast: some users have been able to prepare complex returns in as little as a half-hour.

It's been said that if you have relatively simple tax return, you may not notice any difference between TaxCut and its chief rival TurboTax. To say that, though, ignores the fundamental difference between the two products.

While TurboTax is designed to hold your hand through even the most complicated tax issues, TaxCut is designed to stay out of your way, offering help when you need it, but not wasting your time when you don't.

Like its rival, TaxCut starts in an interview mode, asking you questions about your income and finances and automatically placing your responses on the appropriate IRS form.

But TaxCut doesn't pay as much attention to your answers. Transpose some numbers and TaxCut may never notice.

Entering data

If you use financial-planning software, data entry is easy enough. While TaxCut is closely aligned with Microsoft Money, it can import data from Quicken.

If you used an income tax preparation program last year, it can also use that return as a starting point, even if you prepared last year's return with rival TurboTax. TaxCut can also download income data from W-2's and 1099s, though while there's a good chance your online broker or mutual fund company's data is available, the list of employers is surprisingly short.

How much help do you need?

While the more advanced versions of TaxCut (Deluxe and above) offer extensive built-in help, you may have to go looking for it. At times, the tax advice feels more like the "help" feature of any other software program and it does not forgive spelling errors.

You also may be on your own when it comes to filling in some forms. When it comes to depreciating equipment, for example, you're expected to know which depreciation schedule applies to your equipment. If you don't know, you have to go hunt for the answer. It's actually kind of astonishing that TaxCut doesn't allow its users to select their type of equipment from a drop-down list.

If you do know the answers to questions like that, however, you will save considerable time using TaxCut. While TurboTax users are still being interviewed, you'll be filing your return. TaxCut users report being able to file complex tax returns in as little as a half-hour, far less than half the time it takes to prepare a similar return with TurboTax.

The editions

As you'd expect, the Standard version of TaxCut is for very basic tax returns. It includes a tax interview feature and some general advice on the handling of various life events.

The next version up is called Deluxe, and it adds tax advice from Kiplinger's, IRS publications and some advice for saving for retirement.

The Premium edition is the one you'll want if you need to deduct mortgage interest or you have rental property. This edition also offers much more in-depth retirement planning advice.

If you're self-employed, the Home and Business version is designed for you. It adds tools to handle various types of business income as well as advice for maximizing your business deductions.

State editions

State editions are available, and you get one free state edition with the purchase of the Deluxe, Premium or Home and Business editions.

Electronic filing

You can print or electronically file your returns with TaxCut. If you buy the Deluxe version or higher, you get a rebate coupon that will refund one electronic filing fee.