| Tax Time; a non-political thread :) | |
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| Tweet Topic Started: Feb 5 2009, 10:16 PM (258 Views) | |
| archer | Feb 5 2009, 10:16 PM Post #1 |
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It's that time again...when we pay the piper for what we have earned all year. How many of you use a professional (CPA or CTP, certified tax professional) to do your taxes? Or TurboTax (the poor man's tax professional) If you do, and when all is said and done...how much do you trust what they have done? Since getting out of the tax business I have used TurboTax....and am pretty happy with it, it's not as good as the professional software available, but it does the job. Yet I know, from my experience last year, that no tax software is perfect. We had an odd capital gain on the sale of some rental properties, and turboTax couldn't handle it....so I went to the IRS.....who also didn't have a clue....so I went higher....to the IRS Legal Department....who also didn't have a clue...but promised they would find out. Bless them, they did call me back with an answer......my situation didn't have a code for it...handle it however i thought best. Well that didn't give me a warm fuzzy feeling, but I over-rode the TurboTax software and did it my way....and haven't been audited....yet. The bottom line is, the buck stops with the taxpayor and i am curious as to how many citizens really understand what they have signed when someone else has done their taxes and how many have taken the time to educate themselves on the monstrous tax code? |
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| Hello again | Feb 5 2009, 11:08 PM Post #2 |
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I do my personal via TaxCut...business taxes by a CPA.... Tax Code is a joke....and it's volumes of reading material I would rather they do away with a flat tax... |
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| archer | Feb 5 2009, 11:10 PM Post #3 |
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This is the first year I haven't ordered my copy of the tax code....why bother....if no one else, even the IRS, can understand it, why should I. Besides....I don't need another door stop. |
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| DaisyLover | Feb 6 2009, 08:59 AM Post #4 |
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I use TurboTax also. We don't have any "weird" things so it's very cut and dried. We could go to a Tax Service but I like to play around with TurboTax - it's just fun for me. It was incredibly quick this year! Did the complete thing - Federal and State in less than an hour!!!! E-filed both and both have been accepted. Makes me wonder what is going to go wrong!
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| Hello again | Feb 6 2009, 10:10 AM Post #5 |
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Daisy, Don't worry...you could always claim "It was an honest mistake" just like the Treasury Secretary. I am SURE they will waive the 25% penalties for you too. |
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| DaisyLover | Feb 6 2009, 12:29 PM Post #6 |
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We have the most normal tax returns, it's pathetic. But we've been audited about 5-6 times and have paid as much as $600 for a simple error in Math (in the old days of filling out the forms) for a $34.00 mistake. When hubby worked for the Colorado Dept. of Revenue, we were audited yearly and they found mistakes from 7 years prior - we didn't add in our State refund from the year before..............that HURT. No deals or reductions for Revenue employees. That damn job cost us alot of money. Thank goodness we found TurboTax - everyone leaves us alone - so far
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8:27 AM Jul 11