And potential penalties for filing a false tax returnWhat will happen if you do - the IRS gave you a free loan that you have to repay?
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And potential penalties for filing a false tax returnWhat will happen if you do - the IRS gave you a free loan that you have to repay?
What will happen if you do - the IRS gave you a free loan that you have to repay?
Ah; now we're encouraging tax fraud!most likely yes
if you don't mind the hassle by them, then put it down
most likely yes
if you don't mind the hassle by them, then put it down
This issue is projected to be fix by 02/21/2020.
Ah; now we're encouraging tax fraud!
Incorrect it's your responsibility to review your tax return for accuracy before filing. It's highly likely the IRS will flag your return for an audit since this is a high fraud area (which is easy to verify based on VIN#'s). You probably have a reasonable legal case to go after TurboTax for the interest and penalties you'll owe.No one is encouraging tax fraud my question was for educational purposes in case others are in my case; I expected TurboTax to file correctly with their great marketing that their stuff is 100% accurate guaranteed blah blah blah - bottom line I filed 7500 with no intent to fraud and that's on the Turbo. Now I am waiting for the amount I owe back and when that might come to me, maybe in the next decade when the IRS is equipped with an analytics platform.
No one is encouraging tax fraud my question was for educational purposes in case others are in my case; I expected TurboTax to file correctly with their great marketing that their stuff is 100% accurate guaranteed blah blah blah - bottom line I filed 7500 with no intent to fraud and that's on the Turbo.
Personally, I won't be surprised if it never makes it that far. I assume you will eventually get a notification that your returns were rejected. I got my notification a full week after submitting them (even though I had manually corrected to my correct $1,875 credit).
- The post of mine you quoted was in response to someone else who WAS saying that committing tax fraud was okay
- By nature of this post which I am now quoting, you are acknowledging that you have knowingly committed tax fraud - you knew your tax returns were incorrect when you filed them.
- As @Spice mentioned, you probably would have a case to go after Intuit (the publishers of TurboTax) for any penalties and interest. But that is after you have gone though a long protracted battle with the IRS and then you have to go through an even longer protracted battle with Intuit.
I suspect that TT halted it knowing that the calculations were incorrect. IMO, it's still little wonky, but I was able to resubmit.Strange that your returns were rejected. even though manually corrected to the correct $1,875 credit?
So... enter 7500 and it'll calculate the correct amount?TT fixed the form, now it calculates the correct amount.
Yeah, that's what I had to do. When I had $1,875 as the amount, it then said I had a $469 credit (1/4 of $1,875)So... enter 7500 and it'll calculate the correct amount?
Trying to understand why I am only getting $469 vs $1875??Yeah, that's what I had to do. When I had $1,875 as the amount, it then said I had a $469 credit (1/4 of $1,875)