It is…but I have used it two years in a row, I go thru the motions and it tells me that I qualify for the the Michigan Homestead Property tax credit, but I in fact do NOT, then it delays my refund for weeks! I personally won’t be using it again!
Ok, I’m going to sketch some options.
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You can order a CD or download the program from Turbo Tax or a vendor which you some confidence in. It’s probably best to hand enter the data, pending solid information about how exactly their internet security system works and what sort of assurances TT offers. I call for investigation. Downloading files directly from your financial institution is also ok, though it is usually not an option. One list of advantages of desktop choice.
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You can download the program from a vendor that you have never heard of or one with a shoddy reputation. Don’t do this. There exist sophisticated scammers operating out of foreign lands.
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You can choose Turbo Tax Online: you won’t be handing over banking passwords because that exciting service option is limited to paying customers. You will be providing your Social Security number, just like you do with your bank. You will also be sharing your income specifics with Intuit. If you are uncomfortable with this, see option #1.
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You can hire an accountant, but that can be expensive. Consider 1 or 3.
I’ve used Turbo Tax for years, but I’ve always checked their work in iffy situations. It’s a very useful tool, but I wouldn’t treat it as an expert. It’s more like a glorified spreadsheet, with a wizard attached.
More moaning and groaning:
In 2006 H&R Block mailed out unsolicited free copies of their program to lucky recipients complete with their social security numbers printed on the envelopes at no additional charge.
Back in 2007, one Turbo Tax online customer discovered she could access the returns of other customers who shared her same last name and first initial. Turbo tax no longer offers this service.
Hmm. Like I said, I used TTO last year, and paid for it. I assume I’d have to shell out again to do it on my computer.
However, I entered all my info by hand; no giving out of passwords or bank account numbers. So I think my SSN would be the “only” info I put out there.
I’d also have to buy a laser printer (I don’t think I’ll be supporting the now-dry inkjet I have anymore), I assume… But I might want to do that anyway… But that’s another thread.
So IS there any news of TTO security breaches from more recently than six years ago? That might be a factor in my decision.
Well my google searches don’t show any other recent breaches and the Wiki article doesn’t report anything either. Seriously though, I think the desktop version is reasonably safe provided you enter everything in by hand. Or at any rate, I don’t believe that there are better options.
But I’d still have to buy the desktop version separately from the online version I already purchased, right? The links I find are a little vague on that (perhaps I’m searching wrong).
Yes, I believe that you will need to buy the desktop version separately if you no longer wish to use the online version. But I don’t think there is any reason not to use the online version if that’s what you’ve already purchased.
- Order a CD or download the program from Turbo Tax or a vendor which you have confidence in. If you have a lot of data to download from a financial institution, you can change your password to something temporary, download the data, then change it back. C’mon it’s not that much of a nuisance. But realize the following:
a) IME, data entry is quicker than you think, which is not to say that it is quick.
b) If you download the data you are subjecting yourself to their formatting, their structure.
c) Don’t forget to check your work regardless.
d) I may have overlooked something. This technique is my own: I have found no recommendations for it on the web and it has not been subjected to external review. Other than upthread and now. And none of us are security experts AFAIK. Commentary welcome!
Aw heck, I’ll add this broader perspective/hijack:
e) According to Krebs, the leading attack vector is to place malware on your machine that contains a keylogger which grabs passwords from the password field. None of the above is really relevant to this main threat. Now consumers have some limited protections. But small businesses have lost hundreds of thousands of dollars to the bad guys in this manner. The best solution for them is to access their bank on a dedicated and hardened machine using Linux that they don’t use for casual web surfing or email. But if that’s not practical (and for many it isn’t), they should do their banking on a Live-CD.
More: live cd – Krebs on Security
f) I have no idea how eg the Zeus virus interacts with Turbo Tax’s password facility on the desktop.