Simply using tax preparation software won?t protect you from IRS penalties. A taxpayer who relied on the TurboTax program made several mistakes on her return. Because her tax deficiency exceeded $5,000, the IRS hit her with an accuracy penalty of more than $8,700. The taxpayer argued that she isn?t liable for the penalty because she used the software. Not so fast, said the Tax Court: The errors were her own fault. (Bartlett, TC Memo 2012-254)
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