Lee Schierer
USNA '71
Go Navy!
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No, that's really OK. They are paying you prime rate on it all year, right??? I try to get back as little as possible but, it does take some "rejiggering" now and again as the "let's keep changing it so they can never get a decent footing" department is working overtime lately.
"A hen is only an egg's way of making another egg".
– Samuel Butler
Being self employed and outright owning our house, our taxes are simple once I get the business ones done. I do them myself, as I have to get everything in order for someone else to do them. Heck, when you got the figures right in front of you, why not write them on the forms. As for "nationally" known tax software, friend, who is also self employed used one of the better knowns (which has been mentioned in this thread.) Program didn't figure any social security for three years. IRS caught it though, and with interest and penalties it was VERY EXPENSIVE, to the tune of several thousand dollars. Software program offered him his purchase price back- BIG DEAL!
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"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery." Winston Churchill
I have used Turbo Tax for years, and it seems to work for me. But then I get a letter that some of the retirement plan members of which I am a part got incorrect 1099-R tax forms. I had already filed my taxes and now they tell me I will probably have to file an amended return when I get the correct form. Never have had to do that before. Always something new to learn.
John
I had used Turbo Tax for many years. I would always get an email from them informing me when the current year's version was available. It usually came bundled with both federal and state versions. Now I don't remember the exact cost numbers, but the general jest of it was that the previous year's version was $39 for both versions. I get the email, saying "Great news! The price of Turbo Tax has dropped to $29. That's a savings of $10 over last year!" Upon reading the fine print, it turns out that the federal version was $29, and the state version was $15 for a total of $44. So, they were pushing a price increase of $5 as a price drop. This marketing strategy did not sit well with me, and I have refused to purchase Turbo Tax ever since. I switched to Tax Act, and used that for several years, until my taxes got to be pretty complicated and started using a tax accountant.
Larry J Browning
There are 10 kinds of people in this world; Those who understand binary and those who don't.
I have serious trouble believing that tax software didn't figure your friend's SS for 3 years. Millions of people with SS use them; somebody (probably many thousands) would have noticed the first year and it would have made the national news. Surely the error wouldn't have persisted for the 2nd year.
Two years ago my federal taxes on H&RBlock were much lower than I expected. I certainly got to the bottom of it before filing. Turns out Congress failed to renew the tax on qualified dividends and the software was correct. (Thank you Congressional gridlock!)
I am not certain what happened in the circumstance discussed. What I have noted in the past while using tax software for folks with much simpler taxes was that the software remembers from year-to-year what you input and didn't input in every box. Consequently, if a person didn't input an item in a specific box on the initial year, it becomes very easy to gloss over in subsequent years. It's even that way with the taxes I get ready for the accountant. I had to call to ask for answers concerning a house refinance today. She didn't include that in the packet because it was never done in the past. That is just one possibility. It's more than likely, an accidental omission on the initial year.
Wade, you are such a comedian!! Whatever in the world would lead you to believe that "reform" means "simplify"? Heck, "health care reform", whatever one may think of the merits of such an undertaking, certainly didn't simplify things. "reform" can mean "simplify", but such is rarely the case whenever City Hall, the State House, or Congress get's involved.
Finally, with regards to the thread title. EVERYBODY detests tax preparation. Including accountants. Accountants simply detest it less because they at least get to make some money off it.
It came to pass...
"Curiosity is the ultimate power tool." - Roy Underhill
The road IS the destination.