Tax Questions (specifically TurboTax)

[Kevy Baby]

What will happen if you do - the IRS gave you a free loan that you have to repay?

And potential penalties for filing a false tax return

 

[BikerPeaBody]

What will happen if you do - the IRS gave you a free loan that you have to repay?

most likely yes
if you don't mind the hassle by them, then put it down

 

[Kevy Baby]

most likely yes
if you don't mind the hassle by them, then put it down

Ah; now we're encouraging tax fraud!

 

[Blucenturion]

I filed with TurboTax on the 12th. The very day of the 8936 was made available. It gave me a $7500 credit, I expected it would correct it to the amount actually due, and so it did. When I checked the completed form a couple of boxes below, 50% was notated. My return was accepted and thus far I have not received any messages to the contrary.

Wait, a gray Ford just pulled out front. (kidding)

 

[vickh]

most likely yes
if you don't mind the hassle by them, then put it down

+ penalty depending on how they assign blame. Software vs fraud.

 

[pcgqr1]

Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit is not calculating correctly
The Qualified Plug-in Electric Drive Motor Vehicle Credit or Form 8936 is not calculating correctly. The tentative credit is showing as too high.

This issue is projected to be fix by 02/21/2020.

 

[vickh]

This issue is projected to be fix by 02/21/2020.

on just TT or is it a IRS issue?

 

[Nikola3327]

IMO, Turbo Tax is garbage.

Had no issue with my EV credit this year using Freetaxusa.com. Added bene that the Federal filing is free. You select your car make/model and delivery date and it calculates and populates everything for you.

 

[Thumpernator]

Just curious, but if you used TT and got rejected, can you just refile using a different service like FreeTaxUSA.com ?

I've never had a Return rejected before.

 

[kinito]

Ah; now we're encouraging tax fraud!

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.

 

[Spice]

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.

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.

 

[V__2]

All tax prep software and online versions allow you to see the completed forms before submitting to IRS. Find the option in your software and review for your own sake.

Using Hrblock I also put the reduced amount when asked and noticed it was incorrect on the filled forms so went back and put $7500. Use trial and error and examine the forms that get produced before submitting.

 

[Kevy Baby]

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.

1. The post of mine you quoted was in response to someone else who WAS saying that committing tax fraud was okay
2. 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.
3. 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.

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).

 

[TheNeck]

TT fixed the form, now it calculates the correct amount.

 

[vickh]

1. The post of mine you quoted was in response to someone else who WAS saying that committing tax fraud was okay
2. 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.
3. 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.

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).

Strange that your returns were rejected. even though manually corrected to the correct $1,875 credit?

 

[Kevy Baby]

Strange that your returns were rejected. even though manually corrected to the correct $1,875 credit?

I suspect that TT halted it knowing that the calculations were incorrect. IMO, it's still little wonky, but I was able to resubmit.

Thanks to @TheNeck for stating that it was working!

 

[Jclboston]

TT fixed the form, now it calculates the correct amount.

So... enter 7500 and it'll calculate the correct amount?

 

[Kevy Baby]

So... enter 7500 and it'll calculate 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)

 

[Dan44]

Lets hope that fixes it.

 

[Raoll]

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)

Trying to understand why I am only getting $469 vs $1875??