Tax Day is Coming: Did you Overpay?

I’ve been using online tax services to do my own taxes for years.   Even as our taxes have become more complicated I’ve always felt that I can do it myself with these amazing programs that walk me through it step by step.

Then I saw this report on the television today:

In a governmental accountability study- paid tax preparers made MORE mistakes on returns than people who did them on their own. 

In most states, tax preparers are unregulated.  Only Oregon, Maryland, California and New York actually regulate paid tax preparers.   (Paid Tax Preparers are not always CPA, Accountants, etc..there are different classes but most in the kisoks and seasonal locations are not licensed accountants, etc).  

In this GAO study estimated that 60% of taxes prepared by paid services included mistakes.  50% of Self-prepared returns had errors.

55% of American taxpayers paid someone to do their taxes last year.  You can read the entire report here.

If you still haven’t filed your taxes try one of the online services (I personally have used TurboTax for many years but have used TaxAct too.)

Already filed through a paid tax preparer?  These services are free until you file- why not plug in your numbers and see what happens?  You might find a mistake that cost you money.