Thinking of using TurboTax, ProSeries, Lacerte, Intuit Online, as your tax software? Think again!
Are you one of those believers in the quality of Intuit products? Have you seen the commercials for TurboTax offering you assurance of professionals available to assist you in doing your taxes?
The Minnesota Department of Revenue has recently issued a warning notice to tax return preparers not to use Intuit's TurboTax, ProSeries, Lacerte, and Intuit Online, to file tax returns. It cited multiple issues and unacceptable errors, including calculation errors, from the use of Intuit's tax software.
As a Certified Public Accountant familiar with ProSeries, Lacerte, and QuickBooks, I am not surprised. I have found a number of issues with ProSeries, which I brought to the attention of Intuit on more than one occasion. And I have written a couple of blogs in an attempt to notify others about issues and practices that I found "unacceptable" with Intuit and its software.
For instance, very recently, Intuit had been withdrawing money directly out of my bank account, using an anonymous identifier, Bankcard MTOT Disc. Needless to say, I had never agreed to these monthly charges nor ever used the services for which it was withdrawing funds directly out of my bank account. If you efile using TurboTax, and elect direct deposit or payment, Intuit will have your bank account number.
Also I know something about the professionals that Intuit boasts that it hires to assist individuals in preparing tax returns using TurboTax. These so-called "professionals" are paid as little as $18/hour. Do you know any Certified Public Accountants or Tax Attorneys, worth their salt, who are willing to work for $18/hour? I don't.
So buyer beware. The tax agencies may be scrutinizing the tax returns of individuals using TurboTax.
Now seriously, do you wish to risk a tax audit needlessly?
To read the Minnesota Department of Revenue notice warning against using TurboTax, please read,
The Barefoot Accountant—is a Certified Public Accountant, Certified QuickBooks ProAdvisor, operating an accounting, tax, and QuickBooks consulting firm in Berlin, Connecticut, Accountants CPA Hartford, Connecticut, LLC. Bill has instructed graduate and undergraduate courses in Accounting, Auditing, and other subjects at the University of Hartford, Central Connecticut State University, Hartford State Technical College, and Purdue University. He also taught GMAT and CPA Exam Review Classes at the Stanley H. Kaplan Educational Center and at Person-Wolinsky, and is certified to teach trade-related subjects at Connecticut Vocational Technical Schools. His articles on tax and accounting have been published in several professional journals as well as on several accounting websites. William was born and raised in New Britain, Connecticut, and served on the City's Board of Finance and Taxation as well as its City Plan Commission. Bill is a crazed animal lover, feeding birds, squirrels, chipmunks, skunks, possums, stray cats, and any two-legged or four-legged critter traversing through his yard. His backyard in Berlin, Connecticut has been certified as a habitat suitable for wildlife by the National Wildlife Federation.
Bill also writes an Accounting, QuickBooks, and Tax blog: Accounting, QuickBooks, and Taxes by the Barefoot Accountant. For entertaining articles, please see his listing at The Amazing Brighenti.