Can TurboTax be trusted?
What are the disadvantages of using TurboTax
Cons: TurboTax is expensive and has a habit of upselling its customers on products and services they may or may not need. Also, its free version — which is for simple returns only (not all taxpayers qualify) — is lacking compared to competitor products.
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Does TurboTax give you an accurate refund
TURBOTAX ONLINE GUARANTEES
100% Accurate Calculations Guarantee – Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest.
Does TurboTax ever make mistakes
"Running through the process can lead to errors and potentially even an audit." Just like any other computer program, it's still ultimately your responsibility to do it right. "While TurboTax is designed to catch errors, it's still important to double-check all the information you enter to ensure it's accurate.
Should I pay someone to do my taxes or use TurboTax
Should You Use TurboTax or a Professional Tax Preparer The simple answer is: Yes, you should consult a professional tax preparer even if you intend on using TurboTax to file your taxes.
Is it worth it to use TurboTax
The bottom line. With its intuitive design and variety of human support options, TurboTax is in many ways the standard for the do-it-yourself tax-prep industry. Its products come at a price, however, and confident filers might find that similar offerings from competitors may provide a better value.
What happens if TurboTax did my taxes wrong
If you used TurboTax Online, simply log in to your account and select “Amend a return that was filed and accepted.” If you used our CD/download product, sign back into your return and select “Amend a filed return.” You must file a separate Form 1040-X for each tax return you are amending.
Is TurboTax ripping people off
ProPublica's Reporting Impact
The Federal Trade Commission started investigating Intuit too, looking into the company's allegedly deceptive marketing practices. Ultimately, Intuit was found to have tricked millions of Americans into paying to file their taxes when they should have been able to do so for free.
Is TurboTax 100% accurate
A combination of coverage: 100% Accurate Calculations, Maximum Refund, and Audit Support Guarantees. All guaranteed for the full 7-year life of your tax return. Individual returns only. See terms of service for details.
What is the TurboTax scandal
The $141 million settlement, which also includes residents in Washington, D.C., stems from a 2023 ProPublica report that found Intuit relied on deceptive tactics to steer low-income tax filers away from federally supported free services for which they qualified and into a product that charged a fee to file tax returns.
When should you not use TurboTax
When to Hire a Tax Professional vs. Using TurboTaxYou're not taking the standard deduction. As a business owner, you've likely recorded many of your purchases as deductible expenses.Your taxes are complicated.Your books are sloppy.You've been investing.You don't have time.
Who should I trust to do my taxes
Compare the Best Tax Preparation Service Providers
| Company | Cost | In-Person Services |
|---|---|---|
| H&R Block Best Overall | $85 | Yes |
| Jackson Hewitt Best for Ease of Use | Variable | Yes |
| TurboTax Live Best Online Experience | $209-$399 | Yes |
| EY TaxChat Best for Self-Employed | $199 | No |
How much does TurboTax take out of your refund
#1 Best Selling Tax Software: Based on aggregated sales data for all tax year 2023 TurboTax products. Deduct From Your Federal Refund: A $40 Refund Processing Service fee applies to this payment method.
Will the IRS catch my mistake
Phew! If the IRS does see a significant error, they may conduct an audit, which can happen either by mail or in person, with three possible outcomes: The IRS decides all is well and the return stays the same. The IRS proposes one or more changes and you agree to it and/or pay more taxes, interest, or a penalty.
Will the IRS let me know if I made a mistake
Different amount: If the refund isn't the amount you expected, you should receive a notice explaining why. If you don't receive a notice or you believe the IRS changed your refund incorrectly, contact the IRS or order a transcript to find out about any IRS changes.
What is the controversy with TurboTax
The Federal Trade Commission started investigating Intuit too, looking into the company's allegedly deceptive marketing practices. Ultimately, Intuit was found to have tricked millions of Americans into paying to file their taxes when they should have been able to do so for free.
What if I think TurboTax is wrong
If you used TurboTax Online, simply log in to your account and select “Amend a return that was filed and accepted.” If you used our CD/download product, sign back into your return and select “Amend a filed return.” You must file a separate Form 1040-X for each tax return you are amending.
How many times has Turbo TurboTax been hacked
Previous alerts of TurboTax account takeovers
TurboTax customers were previously targeted in at least three other series of account takeover attacks in 2014/2015 and again in 2023.
Does the IRS own TurboTax
Intuit, the company that owns TurboTax, is spending more money than ever on federal lobbying amid heightened scrutiny of its influence operations and revolving door lobbyists.
Is it okay to file taxes with TurboTax
The bottom line. With its intuitive design and variety of human support options, TurboTax is in many ways the standard for the do-it-yourself tax-prep industry. Its products come at a price, however, and confident filers might find that similar offerings from competitors may provide a better value.
Is it better to use a tax preparer or TurboTax
Unless you have a basic tax situation or have sufficient time to dedicate to the nuances of tax codes, laws, and regulations, Enrolled Agents, Certified Public Accountants, and Tax Attorneys can save you time and money compared to relying on TurboTax alone.