Does TurboTax do taxes right? (2024)

Does TurboTax do taxes right?

Your dedicated expert will make sure your taxes are 100% accurate and you get your max refund, guaranteed. You can connect with your expert in real time and get your taxes done without all the waiting and wondering.

Does TurboTax give accurate tax returns?

Have an expert do your taxes or do them yourself. Either way, TurboTax calculations are 100% accurate, guaranteed.

Does TurboTax do taxes correctly?

100% Accurate Expert-Approved Guarantee: If you pay an IRS or state penalty (or interest) because of an error that a TurboTax tax expert or CPA made while providing topic-specific tax advice, a section review, or acting as a signed preparer for your return, we'll pay you the penalty and interest.

Does TurboTax calculate taxes correctly?

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.

Can TurboTax answer tax questions?

We work hard to ensure that our tax experts are highly qualified to answer a broad range of questions, but if your question isn't answered to your satisfaction, you can ask to be transferred to a new expert.

Is there a downside to TurboTax?

Another drawback previously mentioned is the price. TurboTax is the most expensive online tax filing software , especially for freelancers and rental property owners. But it can also become pricey for individuals who need to file multiple state tax returns. (TurboTax charges $64 to file state taxes, per return.)

Does TurboTax give maximum refund?

TURBOTAX ONLINE GUARANTEES

Maximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back – Individual Returns: If you get a larger refund or smaller tax due from another tax preparation method by filing an amended return, we'll refund the applicable TurboTax federal and/or state purchase price paid.

Is it better to do taxes in person or TurboTax?

Even though TurboTax and other programs are easy to use, they have their own limitations. Spending the extra cash to hire a professional can actually save you money in the long run if your financial situation becomes complex. Below are some tips for when you should leave the software to an experienced professional.

Can TurboTax get my taxes wrong?

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 catch mistakes?

Remember, when you use TurboTax to prepare your taxes, we handle all of the calculations and enter them into the proper forms for you. We also double-check your returns for errors before you file.

Why not to use TurboTax?

Cons: More expensive than other tax-filing software. Just simple tax returns (including taxpayers with only W-2 income) qualify for TurboTax Free Edition. Processing state tax returns generally costs extra.

What is the most common mistake made on taxes?

How much does TurboTax charge to do your own taxes?

Is TurboTax being investigated?

Intuit pulled its “free, free, free” ads in 2022, after the FTC and all 50 state attorneys general began investigating Intuit's advertising, but the company continued to tout free tax prep. Of course, for most customers, TurboTax wasn't free.

Why is the IRS investigating TurboTax?

The Federal Trade Commission has issued an Opinion and Final Order that Intuit Inc., the maker of the popular TurboTax tax filing software, engaged in deceptive advertising in violation of the FTC Act and deceived consumers when it ran ads for “free” tax products and services for which many consumers were ineligible.

Who gets TurboTax refund?

Here are the criteria you must meet to be eligible for a payment: The timing was right. You must have used TurboTax to file your federal tax return in any of the 2016 through 2018 tax years. You got charged, though you qualified for the no-cost version of TurboTax available through IRS Free File.

Does TurboTax lower your refund?

When you pay your TurboTax fees with your federal refund, the TurboTax fee plus a separate Refund Processing Service (RPS) fee are deducted from your total refund amount. So your IRS-issued tax refund might be less than the amount shown in TurboTax.

Is using a CPA better than TurboTax?

Lack of In-depth Tax Planning: While TurboTax can assist in preparing tax returns for the current year, it may not provide comprehensive tax planning advice for the future. A CPA can offer strategic insights to optimize tax planning and maximize tax savings in the long run.

What is cheaper H&R Block or TurboTax?

TurboTax generally gets the highest marks for ease of use, but it also costs more. For example, the widely used TurboTax Deluxe online version is priced at $69 for federal and $64 per state while the similar H&R Block Deluxe costs $55 for federal and $49 per state.

What is the average tax return for a single person making $60000?

If you make $60,000 a year living in the region of California, USA, you will be taxed $13,653. That means that your net pay will be $46,347 per year, or $3,862 per month.

How to get $7,000 tax refund?

How much will my tax return be if I made 15000?

If you make $15,000 a year living in the region of California, USA, you will be taxed $1,518. That means that your net pay will be $13,483 per year, or $1,124 per month.

Who is the best person to file taxes with?

Volunteer preparers and preparers with just PTINs won't be in the database. A PTIN is a basic requirement that's relatively easy to get, though, so it doesn't hurt to go a step further and seek out a credentialed preparer who's also a certified public accountant (CPA), licensed attorney or enrolled agent (EA).

Who is best to file taxes with?

How hard is it to do your own taxes?

Although the United States tax code is a complex one, it's not difficult to do your taxes on your own. That is, as long as you use a quality software solution to guide you through the process. Consider signing up for TurboTax, H&R Block or another leading software solution now to get started.