Tuesday, July 7, 2009


Guess what I found when I checked the Tax page at alltop.com this morning? "Tax Carnival #55: Tax Fireworks" is up at DON'T MESS WITH TAXES!
In addition to my "What Happens In An IRA . . ." post the Carnival also includes the following items of interest -
*The Sun wonders "Did TurboTax Miscalculate My Recovery Rebate Credit?" at THE SUN'S FINANCIAL DIARY. It seems, based on the post's comments, that TurboTax has made errors in calculating the Recovery Rebate Credit on several returns, resulting in bills for additional tax and interest. It is unsure whether it is a question of "Garbage-In, Garbage-Out" or if the software itself FUed. With multiple errors I expect a TT FU. Who said tax returns generated by software are more accurate than manually prepared ones? FYI - the IRS has a good Recovery Rebate Calculator on its website.
* Darwin provides a detailed post on the Medical FSA in "Flexible Spending Account: Rules, Eligibility and Savings Explanation" at DARWIN'S FINANCE.
*Bruce, the TAXGUY, joins the fray in the CPA vs Unenrolled Preparer debate with his well-titled post "Righteousness in Designation?". As Kay suggests - be sure to read the comments.


John said...

Great post -- I linked to you in this story about Turbotax and the Recovery Rebate. One minor issue: the IRS site doesn't seem to allow links directly to the page you saw. I think this is as close as we can get, unfortunately!

Robert D Flach said...


Thanks for the reference - and for the post with links to other blog posts on topic.


Payday pal said...

Great article!Thank you for the references.