Our cpa prints our returns for our files and sends it into irs electronically. Whatever we pay is worth it for us for peace of mind and no audits.
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I am thinking that there is a business model where people who use TT to prepare their tax return send me a copy and I get 1/2 of any additional savings I find. 
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Any people with Colorado knowledge out there for this tax year? I did a google search and there is nothing about the tax year 2021. In Turbo Tax I elected Direct Debit but nothing has been withdrawn from my account (one week). The Fed and CO both accepted the e-returns. The Fed did direct debit. āTurbo tax will not offer the direct debit if your state does not accept itāā¦ I will be calling tomorrow the CO Tax Dept if I can get through. Hate to pay double.
Even if you get the notice that your taxes were accepted that doesnāt mean they are processed immediately. Colorado may not take the debit until they process the return.
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Back when I wrote checks for estimates and final payments, feds were always faster to cash checks than the State of Ohio. Same is true with electronic payments. Several years ago, one of my partners mixed up his checks for quarterly estimated payments. Sent Ohio estimate to the IRS and federal estimate to the state. Ohio forwarded federal check to the IRS. IRS stamped āUnited States Treasuryā over State of Ohio on the payee line and cashed it.
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Iām surprised they were allowed to do that - nothing illegal about it? I canāt imagine we minions can find a check made out to someone else, cross it out, and write our name on it, can we? (Not that I want to - just wonderingā¦)
Our taxes were sent electronically by husband this weekend. Ouch!
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Years ago when I still wrote checks and paid bills that way. I put the $2000 credit card check in the cable bill ($200)envelope. And vice versa
The bank sent my check back to me, it was written to the cable company. The cable company cashed the $2000 check. I called and asked them, it was made out to Visa, and the bill was $200? The cable company claimed that they thought I might be paying ahead! Had to get them to issue me a refund.
Now I am very happy to pay on line. 
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You canāt just cross off the payee and write in your name and cash a check. But they are the IRS/federal government. They can do stuff mere mortals cannot. LOL
It was always interesting to me that when I wrote a check to the US Treasury, they would stamp US Treasury over what I wrote on the payee line.
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Bottom line, according to my phone call- yes Colorado does accept Turbo Tax Direct Debit.
So, after a 3+ hr wait on hold, got through with the state. Apparently they are not sure why it was not taken outā¦they are are going to call me back. Quite nice on the phone, both the first person and the second one. They told me that they think it is in the queue to be processed for payment and will call me back in two days to let me know. I suspect that since I filed late in the season (10 days ago) that they are behindā¦
Update: they did the withdrawal today
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I never worry about them not getting my tax money, especially for California, they go after you even if you move out of state.
Happiness is today I found a button to check to generate forms 8606 much easier. So my tax is now done, going back for second checking and reviewing in the next few days, phew!
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I have used TurboTax for many years (20+). I caution people to check TurboTax calulations. Last year and this year TurboTax failed to produce an accurate return. I had to use work arounds to get the right answers. Yes, Turbotax appears to know about the issues. Last year they fix it around April 12. This year, I doubt it will be corrected.
TT support is largely based on a community forum unless you pay extra. Actually works well and sometimes a TT employee will respond. In my case, they did and agreed that there was an issue and pointed out the work around I used was one way to fix it.
TT does work well but if your return is slightly unique compared to the masses then I suggest you verify your return,
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This is one year Iām so glad to have accountants. I gave my son $ to buy a house, and that produced capital gains. In addition, Iāve been dealing with identity theft. I thought it was over, but someone requested copy of my 2020 returns. Iāll be using a PIN from now on.
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I caught mistakes by TurboTax twice, I returned the software to Costco, the past few years I have it free from Fidelity so I canāt do that even.
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Why did this produce capital gains. Asking because we also gave our son $ to buy a place.
Asking the same question as thumper. Unless you sold an appreciated asset like some shares of stock or a piece of RE, Iām not sure why a gift would trigger capital gains.
Presumably selling something generated CG, not the act of giving money. Giving money could trigger a gift tax, but the lifetime exclusion should only result in a few more forms. Unless itās a really, really, really big house.
My taxes are all in, though the federal payment wonāt be deducted until next week. Maturity of savings bonds that my mother in law bough for my wife 30 ago, plus the extensive gains and dividends from mutual funds make it a significant sum this year. But at least no underpayment penalty. I also did my daughterās forms - meaningful refunds for both federal and state.
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I have always viewed TurboTax as a tool not a be all, end all. So I always review its results.
My son decided to prepare his own taxes this year. For his girlfriend as well. He asked me to review them which I did. He did a good job though its not really rocket science at his stage of life.
Added my dadās to my list this year. Have his to finish and mine and my daughterās which will be the project for this weekend. All 3 have been started though. Refunds all around. Except for me. Paid into our safe harbor so knew I would owe. 1st quarter estimate due as well so it really doesnāt matter.
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Yes, I had to sell shares in mutual funds (vanguard), and that produced capital gains. Those get taxed at 15% rate, I think . That made my tax bill for 2021 higher than ever.
Ackā¦ anybody know about Forms 8453, 8949? Best forums / whatever for TurboTax questions?
Iāve been happy to let hubby do most of the tax work prep this year, and now he confused about requirements for mailed paperwork regarding capital gains on stock sales. The Financial Advisor (who did a free peek) didnāt think it was needed ā¦ but TurboTax isnāt letting him submit without doing so. (Sorry I canāt explain better - just worried seeing him stressed at this late date ā¦ he thought he was near-Done last month, just waiting to make sure no new TT updates etc).