Posted on 01/10/2024 7:27:43 PM PST by Red Badger
Extension of time to file DOES NOT extend the time you have to pay tax in full.
April 15 (or the first Federal workday after that) is the due date for being paid in full to duck penalties.
TurboTax (Intuit) is based in Mountain View, California. IOW in Silicon Valley.
I think they know how to navigate and lobby (but are grateful for the concern you have expressed).
Last year (May/June) the IRS sent me a bill for under with holding of $165 and I paid it. In October I got a check from them for $165.
I guess the IRS f*cked up and can't be trusted to do anything right.
Per the IRS, types of income for Direct File doesn't include 1099-DIV, so apparently anyone with capital gains or ordinary dividends isn't eligible either. Nor does it include 1099-R pension income. Sounds like for now, the vast majority of people eligible to use the IRS program would also qualify for TurboTax's free service, which is probably orders of magnitude better.
well played :-)
There is a reason for that. Low bidder who doesn't get the contract because it goes to a DEI firm owned by a well-connected insider. So long as the software meets the specs in the contract the contractor gets paid. THe software doesn't actually have to work. In fact, can you get a DEI employee to write down what it even means to work.
TurboTax on the other hand has to work, otherwise it doesn't get used and they don't get paid. They are pretty good at fixing problems quickly. Stupidly they don't even charge you until you are ready to file, so they don't even try to charge you if it doesn't work that well.
Does anyone else remember when Trump first ran for president that he promised to make the filing form much easier and smaller? “The form will be the size of a postcard.”
Filing has only gotten more complicated. You have to fill out additional forms to determine amount to put on “capital gains” line on form 1040.
I tried the free electronic filing. They still require filer to do all the calculations and then enter the results on the E-form. I gained nothing by e-filing.
That’s what this is essentially...................
TurboTax works great. Not one federal web service works well, if at all
For at least the last decade plus
concur 100%. have used turbo for many years. while it misses a few things in general it works fine.
“You just made up that “IRS Tax Matching.” I know because a real program would give minorities 2X to 3X their payments back, not just 1X.”
something like EITC...
Received IRS letter in November demanding payment for taxes filed on a trust that were paid. Went online to investment account and it shows the Treasury electronically deducted from the account. Printed out this and sent to IRS (I tried to call them, but on hold twice for 6 hours until they disconnected the call). Received letter last Friday that said they need 60 days to respond to my written inquiry. So basically I have no acknowledgement they have received payment.
Yes I noticed that. Another company going full sodomite
I was charged for failing to pay on time AND for filing late. The extension is supposed to give taxpayers extra time to file without penalties.
I haven’t used TuboTax in years. I use FreeTaxUSA every year and it works great.
My local property tax authority allows me to pay on-line direct from my bank account. For a fee of 25 cents. Cheaper than a postage stamp and zero chance the USPS will lose it or it will fall behind some bureaucrat’s desk.
Same with annual auto tag license renewals.
I can’t figure out why the IRS can’t roll out something similar for those of us who pay quarterly. Instead we have to write a check and mail it hoping it doesn’t get lost or mishandled.
Don’t confuse penalties for late filing with penalties for not paying on time. Different penalties, neither of which is particularly bad. And it’s my experience that late payment starts January 1, not April 15.
That doesn’t sound like competition for TT. It’s basically just the 1040EZ crowd, and it’s just federal not state. TT already has a free option for exactly that crowd.
I’d bet Intuit made sure the IRS system can’t accommodate self-employment income.
Intuit knows that it can make an easy fifty bucks off anyone who got a 1099 for $601 and who needs a computer program to figure out that they owe $91.95 in self-employment taxes.
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