Trust Your Tax Return to the Professionals
A question millions of US citizens annually ask themselves prior to April 15th.
Should you DIY or trust your tax return to the professionals?
Every year many thousands of modest, honest and hardworking US citizens discover they owe the IRS still more money upon completion of their tax returns. It’s a lousy feeling. Now imagine, instead of owing hundreds or thousands of dollars, you owe hundreds of millions of dollars in unpaid taxes? How would that feel?
That’s exactly what happened to one Colorado woman. Upon completion of her return she stared in disbelief and horror at the amount of taxes owed, $216,399,508. The taxpayer in question is a part-time worker who makes about $10 an hour at a thrift store. The woman decided to prepare her own taxes and used Turbo Tax, a popular tax software application.
Because of a glitch in the IRS software, Turbo Tax made an error related to the woman’s federal taxable income.
The company did confirm the error on its part and it’s working to resolve the issue. According to reports, there were several taxpayers in Colorado who experienced similar issues.
Preparing your own taxes can save you some money. But in these cases, not time nor peace of mind. Having an experienced tax professional and accounting firm do you tax preparation for you is always a good idea, particularly if your tax or financial situation is complicated. If you have a complicated tax issue, we suggest contacting your current expert tax prepare.
We hope you found this article about “Trust Your Tax Return to the Professionals” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe to our YouTube Channel for more updates.
Considerately yours,
GROCO, GROCO Tax, GROCO Technology, GROCO Advisory Services, GROCO Consulting Services, GROCO Relationship Services, GROCO Consulting/Advisory Services, GROCO Family Office Wealth, and GROCO Family Office Services.
Alan L. Olsen, CPA, Wikipedia Bio
Proud sponsor of the AD Show.
Top Christmas Presents for 2017
Top Christmas Presents for 2017 Are you still looking for that perfect gift for Christmas this year? Have someone on your list that’s impossible to shop for? There is no end to the number of gifts you could purchase, so what are you supposed to do? With endless choices, you might feel a little overwhelmed. But…
These Are the Fastest Growing Cities in the U.S.
These are the fastest growing cities in the U.S. and they are not always the biggest cities in the country. Los Angeles, New York, Philadelphia, Chicago and San Francisco are not only large, but also very famous. However, when it comes to growth there are many other cities both large and small that are growing…
Top 10 Golf Courses in the World
Top 10 Golf Courses in the World 1. St Andrews (Old Course) Taking home the prize for the best golf course in the world is St. Andrews in Scotland. This storied course holds the record for hosting the most Open Championships, with 29. The course has practically been around since the game itself, being built…
Top Performing Stocks Over the Last 35+Years
Top Performing Stocks Over the Last 35+Years How to Find the Right Dividend Growth Stock The stock market is vast and the possibilities are endless. For example, just consider the many ups and downs over the last 35+ years. There have been huge success stories both individually and for the stock market as whole. On…