Posted: 4/9/2006 8:15:00 AM EDT
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Wow! Went from OWING $1,770 to getting $868 BACK! DEDUCTIONS, baby! DEDUCTIONS! DAMN I love that program!  I now return you to your regularly-scheduled Sunday morning!  P.S. - I still need a life! 
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It was friggen' painful!! This was before I had a computer and too poor to pay someone to do it for me. |
Oh!  I thought you had filled in the individual forms IN TURBOTAX! Yeah, I've only filled it out by hand once, but that was 1040EZ way back when I was making peanuts. |
That is actually good, to get your with-holding matching your actual tax bill. I see people at work all excited getting $2000 back, and wonder why they like loaning Uncle Sam 2K intrest free? |
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We've used TurboTax for years and generally I like it. However, I assume it will report any overrides to the IRS as part of the package it provides to the IRS at filing time. I pretty much figure that no overrides are needed as long as you accept TurboTax's interpretation of tax rules. Suffice it to say that I doubt if many competent tax attorneys feel threatened by TurboTax...although they may be by the IRS. IIRC, Money magazine has (or had) a yearly competition/comparison where they gave the same "moderate complexity" tax scenario to a goodly (>20) number of "tax pros" to see how results matched. NONE ever matched. Who can tell for sure who was wrong and who was right given the incredible divergence of results? Just remember that you are playing by TurboTax's rules when you use it. This may be good or bad depending on your individual tax scenario. The larger issue in my mind is that is literally impossible to know whether or not your return is 100% Ok assuming a return of moderate or higher complexity. This is because of the incredibly complex tax code that is literally impossible to follow. Our present tax code (and the IRS for that matter) that make many wage earners "tax slaves" is an abomination. There are better alternatives. One such is explained here: www.fairtax.org. Nobody likes taxes, but there are better and fairer ways to approach taxation. |