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Tax software

Discussion in 'Off Topic Threads' started by cubancigar2000, Jan 27, 2009.

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  1. cubancigar2000

    cubancigar2000 Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    10,521
    Location:
    Idaho
    I have been using TurboTax for years and it does a great job. It has been 100% correct and I have not been audited since I started using it in 1993. This year it is even more expensive to buy and then you have to pay to file state taxes with an electronic return. I was talking to a buddy at the gun club who used TaxAct online and it was free to use and file. Has anyone used "TaxAct" or any other free online service?
     
  2. pdq

    pdq Member

    Joined:
    Aug 24, 2006
    Messages:
    934
    I've used TurboTax for the last 12 - 15 years, and while good, it isn't foolproof.

    And they say that if an error causes interest and/or penalties, they will pay. Horse Hockey.

    A few years back, my wife did some part time work in addition to her day job. For ease of example, let's say she made $4,000 and had $800 withheld for Fed taxes. When I entered it, I made a mistake. I entered the earnings as $400, and withholdings of $800. How it thought $800 could be withheld on $400 of wages is beyond me, but that's what happened. Next thing, I receive a bill from the IRS saying I owe interest and penalty, as I'd underreported income.

    So, I called their customer support to file a claim. I was on the phone for 40 - 45 minutes with a woman who argued with me that it was correct to have the system allow withholdings of $800 based on wages of $400. Nothing I could say seemed to get through to her as to the fundamental flaw. I finally asked "Let me ask you something -- have you ever used this product to do your taxes?" The answer was no. I asked why not -- where do you live? Answer "I'm in the Phillipines".

    I gave up, and after being a raving fan of the product, now make a point of telling people not to blindly trust it.

    Pete
     
  3. b6r8tt2

    b6r8tt2 TS Member

    Joined:
    Jan 29, 1998
    Messages:
    3
    Tax Act software which I have used for many years(about 7 or 8) is great for the price. But unfortunately it will do the same thing that turbo tax did. Due to the fact that withholdings is not based on the income only on what you want withheld. This error is due to the operator of the software and not making sure all you inputs are correct. Garbage in Garbage out. LOL
     
  4. waterhouselake

    waterhouselake TS Member

    Joined:
    Apr 2, 2006
    Messages:
    291
    I'm sure the tax software programs to a decent job. What was not mentioned above and is needed is another set of eyes to verify YOUR imput data. If you made an imput error on numbers, the liklihood is that you will not pick it up. Another common error is flipping the form over from side one to side two and transferring the correct number. Use only one side of a two sided form. Make sure everything is in front of you and easy to follow....
     
  5. BT-100dc

    BT-100dc Active Member

    Joined:
    Nov 7, 2008
    Messages:
    1,487
    Apparently you're smarter (with due respect) than Timothy Gietner, Treasury Secretary, as he had the audacity to blame Turbo Tax for his failure to pay his Social Security & Medicare taxes; he's suppose to be a genius. It's almost as hard to believe that Rep. Barney Frank didn't know the state of Freddie & Fannie plus Sen. Dodd didn't know he was getting a "sweetheart" deal from Morningstar. Darrell
     
  6. waterhouselake

    waterhouselake TS Member

    Joined:
    Apr 2, 2006
    Messages:
    291
    Oh, they did BT100dc!! We're supposed to believe what their shoveling......
     
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