That's a risk you are willing to take and it may work out for you, but most people in your situation can't accurately fill out their return. I've used this example before, it's a state issue, my uncle with a finance degree has been filing his own return for years. He had no clue what the Fairplan credit was, had not been deducting school expenses for his kids and several other items. He had easily cost himself 2k over several years.

Federal income tax expense is likely one of the top 2-3 cash outflows expenses each individual is incurring each year, why not pay a little to make sure it's correct? Just
my take.

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Posted by iknowmorethanyou

Paydirt

Member since Jul 2007

6552 posts

Posted on 5/5/15 at 2:14 pm to Jabstep

Because of literally everything she posted.

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Posted by hungryone

river parishes

Member since Sep 2010

11987 posts

Posted on 5/5/15 at 2:28 pm to Jabstep

quote:
I've used this example before, it's a state issue, my uncle with a finance degree has been filing his own return for years. He had no clue what the Fairplan credit was, had not been deducting school expenses for his kids and several other items. He had easily cost himself 2k over several years.

If he's not taking the time to keep current on tax law changes, then no, he shouldn't do his own returns. But it's an easy enough task for many professionals who are required to keep up with tax law changes anyway, or who do so as a matter of being informed citizens.

We did use TurboTax a few years ago, but it was also a ripoff (not free because of the various schedules we file). We still file a paper return, mainly because we always have to pay, so I don't care how slowly the IRS processes the damn check, LOL.

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