That would be an interesting exercise. I should take a spin over after I get mine back from my accountant.

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

Since switching over to software to process/print the tax returns, I have gotten quite a bit back, a couple thousand usually. But thats because I've also gotten paid next to nothing

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TC
Current stable:
- 2004 Mazda RALLYWANKEL
- 2007 Saturn sky redline
- 2004 Explorer...under surgery.

Past: 135i, GTI, 300E, 300SD, 300SD, Stealth

The whole idea of paying somebody to "find" what's yours to begin with after the government artfully "hides" it really gets me steamed. There's no way I could do our taxes manually without the help of an accountant or Turbo tax. Its way too complex. The software solution requires investing in a newer Windows computer that you might not otherwise need. Double ripoff.

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1985 380SE Blue/Blue - 230,000 miles
2012 Subaru Forester 5-speed
2005 Toyota Sienna
2004 Chrysler Sebring convertible
1999 Toyota Tacoma

My goal is always to owe as much as possible without having any interest or penalties due. hold onto your money as long as possible.

Has anyone ever compared their personal federal income tax results with TurboTax or TaxCut with a preparation pro, like an accountant?

We had a tricky year last year; selling a house, moving to another state, renting, mid year conversion from salary to independent contractor, relocation costs, setting up a home office and more. We were surprised to see that TurboTax was able to handle all the issues, although it did require buying the software tables for the second state, since the program only provides for one free state.

Fixed it for ya.

I got a call today from a guy to help him with setting up a rental property he and his wife bought with his sister as tenants in common. He uses turbo tax and has done all but the seashore rental stuff. So, I told him to send me the TT draft, copies of his own docs, last years return and the rental info and I would prepare his return for filing. So I will get a fresh look at TT.

Occasionally I get calls from people who use TT and have hit snags or have unusual one time issues they need help with. So I look it over or do the return for the year in question.

Generally, I find TT to be up to the task. I have never used it as a software tool, so I can't comment on ease of use or its design for efficiency.

I suggest the IRS' free file portal to folks. Pick your software company, including TurboTax! For the simplest returns, a good option to buying a new program every year. No data storage though.

http://apps.irs.gov/app/freeFile/jsp/index.jsp?ck

Questions for you MTI. Does TT home installed software interface online with IRS publications or other research providers like BNA? Or is there built in "research" ability? Is the preparation done online or is the only online function efiling the returns?

fwiw, we use CCH prosystems for everything... ALL tax returns, research, and time & billing.
http://tax.cchgroup.com/Tax/default.htm

Yes, TT does interface with the IRS online publications; it provides the specific link for further information. Of course, the IRS publications can be fairly incomprehensible at times.

The heck you say!

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

Anyone old enough to rember the Honeymooners with Jackie Gleason may recall the episode where he gets a letter from the IRS and looks up what the penalties are for not paying tax. He starts reciting an actual code Section. Years ago I stumbled upon it in doing some research and the recall was instantaneous.
Ralph Kramden gets through the first part and then goes into hysterics.
Classic comedy. (maybe I should list this in the old geezers 1955 thread.
Still the law:
Sec. 7203:
"Any person required under this title to pay any estimated tax or tax, or required by this title or by regulations made under authority thereof to make a return, keep any records, or supply any information, who willfully fails to pay such estimated tax or tax, make such return, keep such records, or supply such information, at the time or times required by law or regulations, shall, in addition to other penalties provided by law, be guilty of a misdemeanor and, upon conviction thereof, shall be fined not more than $25,000 ($100,000 in the case of a corporation), or imprisoned not more than 1 year, or both, together with the costs of prosecution. In the case of any person with respect to whom there is a failure to pay any estimated tax, this section shall not apply to such person with respect to such failure if there is no addition to tax under section 6654 or 6655 with respect to such failure. In the case of a willful violation of any provision of section 6050I, the first sentence of this section shall be applied by substituting “felony” for “misdemeanor” and “5 years” for “1 year”..............................."