TurboTax

Document Sample
TurboTax Powered By Docstoc
					FOR IMMEDIATE RELEASE
March 11, 2013

Contact: Lisa Erickson
Phone: 651-556-6397
lisa.erickson@state.mn.us



    Minnesota Department of Revenue provides update and
      details on issues with Intuit products in Minnesota
ST. PAUL, Minn. – Last week the Minnesota Department of Revenue announced several
issues with Intuit tax preparation products (TurboTax, Lacerte, Intuit online, ProSeries). This
document provides a status of those issues as of 12:00 p.m. on March 11, 2013 and Intuit’s plan
to fix them.

The Department of Revenue is not affiliated with Intuit and we find these errors unacceptable.
We expect Intuit to correct these problems immediately.

Intuit Issue Update - March 11 at 12 p.m.
Product Issue      Brief Description                         Customer Impact
State Election     If $5 was directed to a political party   If you filed electronically you do not
Campaign Fund      or to the state’s general campaign        need to do anything. Intuit will
Selection (Form    fund, Intuit did not accurately           provide the department with a list
M1 and M1PR)       communicate your choice to the            and we will use that list to make
                   department.                               corrections.

                   Returns completed after February 28       If you filed on paper, Intuit sent a
                   do not have this issue.                   letter with directions on how to
                                                             identify if you have an issue and
                                                             what to do. If you find an error or
                                                             need assistance determining if your
                                                             return is impacted, you can contact
                                                             Intuit directly at 1-866-888-4609.
Negative Federal   Turbo Tax and ProSeries issue -           Intuit will provide the department
Adjusted Gross     When the Federal Adjusted Gross           with a list and we will use that list to
Income (Form       Income was a negative number, the         make corrections.
M1)                value submitted to the department
Product Issue      Brief Description                        Customer Impact
                   was a positive number.                   There may be some who received a
                                                            letter or bill from the department. If
                   Returns completed after February 4       that happened, you should follow the
                   do not have this issue.                  instructions on the letter you
                                                            received. They may be delays to
                                                            refunds.
Educational        Lacerte issue - If the subtraction was   Intuit has provided the department
subtraction        claimed on Line 19, only the dollar      with a list and we are using that list
Income additions   amount for the first dependent was       to make corrections.
and subtractions   communicated to the department.
(Form M1M)         The schedule doesn’t substantiate        Some taxpayers may have received
                   the figures on the M1, which may         a letter or bill from the department
                   result in a change of the return.        asking to substantiate information. If
                                                            you received a letter you need to
                   Returns completed after March 4 will     respond as directed in the letter to
                   not have this issue.                     substantiate your information.
                                                            There may be delays to refunds.
Child and          Lacerte issue-                           Taxpayers do not need to do
Dependent Care     The last name of the care provider       anything. The department will
Credit (M1CD)      was blended with the first name.         review these returns and follow-up
                                                            with taxpayers if necessary.
                   Returns completed after March 11
                   will not have this issue.
Individual Form    Lacerte issue-                           Taxpayers do not need to do
for Marriage       Line 10 of the form the amount           anything. While the amount listed
Credit (M1MA)      transmitted to the department was        was incorrect, the actual tax liability
                   $8,525 instead of $8,750.                was correctly calculated. If the
                                                            taxpayer looks at a paper copy of
                   Returns completed after March 11         their return and reviews the
                   will not have this issue.                calculations they will see what
                                                            appears to be a math issue.

                                                            The department will review the
                                                            returns to verify the accurate
                                                            calculations were submitted.
Marriage Credit    TurboTax & ProSeries issue –             Intuit sent an e-mail to taxpayers
(M1MA)             Calculation errors for individual        advising them: If you have not
                   income tax returns for married filing    completed your Minnesota return,
                   joint when both have earned income       and you are using the Turbo Tax
                   and the lowest paid of the two           desktop CD software product, you
                   taxpayers makes a minimum of             should update your product by
                   $88,000.                                 checking for updates.

                   Returns completed after March 11         If you already completed and filed
                   will not have this issue.                your return, you will need to file an
                                                            amended return. You can contact
                                                            Intuit directly at 1-866-888-4609 for
                                                            assistance with filing the amended
Product Issue       Brief Description                        Customer Impact
                                                             return.
Property Tax        Lacerte issue- Some homeowners           If taxpayer filed electronically they do
Form refund         and mobile home owners with              not need to do anything. Intuit will
calculation error   household income over $16,000 and        provide the department with a list
(Form M1PR)         property tax over $3,500 are             and we will use that list to make
                    calculating a refund larger than the     corrections.
                    taxpayer is entitled to.
                                                             There may be some who received a
                    Returns completed after March 11         letter or bill from the department. If
                    will not have this issue.                that happened, you should follow the
                                                             instructions on the letter you
                                                             received. They may be delays to
                                                             refunds.

                                                             If you already completed and filed a
                                                             paper return, you will need to file an
                                                             amended return. You can contact
                                                             Intuit directly at 1-866-888-4609 for
                                                             assistance with filing the amended
                                                             return.
Property tax form   Lacerte issue-                           Intuit will provide the department
direct deposit      Property tax refunds filed without       with a list and we will use that list to
election issue      certain schedules with an election for   make corrections.
(From M1PR)         direct deposit, do not have the direct
                    deposit selection communicated to        Any returns that cannot be
                    the department                           corrected, Intuit will send an e-mail
                                                             to the preparer advising them the
                    Returns completed after March 8 will     refund will be issued by paper and
                    not have this issue.                     the taxpayer will not qualify for early
                                                             release of their refund.
S-Corporation       TurboTax and ProSeries issue-            Intuit has sent an e-mail advising
Amend- Form         Lines 5 & 7 should not have been         taxpayers: For returns not filed,
(M8X) 2012          enterable fields. If something was       Intuit will have a software update
                    entered in those fields, they may be     available on March 11 that will
                    incorrect. Line 16 has a calculation     correct the issue.
                    error resulting in incorrect tax.
                                                             If you have already completed and
                    Returns completed after March 11         filed a return, you will need to file an
                    will not have this issue.                amended return. You can contact
                                                             Intuit directly at 1-866-888-4609 for
                                                             assistance with filing the amended
                                                             return.
S-Corporation       Turbo Tax Business and ProSeries         Intuit has sent an e-mail advising
Form (M8A)          issue - For business doing business      taxpayers: For returns not filed,
                    in multiple states, reporting            Intuit will have a software update
                    composite income tax and                 available on March 11.
                    apportioning income, the income tax
                    amount is wrong due to                   If you have already completed and
Product Issue      Brief Description                          Customer Impact
                   apportionment factor weighting for S-      filed a return, you will need to file an
                   Corporations.                              amended return. You can contact
                                                              Intuit directly at 1-866-888-4609 for
                   Returns completed after March 11           assistance with filing the amended
                   will not have this issue.                  return.
Fiduciary Form     ProSeries issue- There are                 Intuit has sent an e-mail advising
(KF)               calculation errors. On composite           taxpayers: For returns not filed,
                   Income Tax Smart Worksheet, the            Intuit will have a software update
                   total amount is wrong resulting in the     available on March 11.
                   fiduciary tax liability to be overstated
                   and an overpayment by the fiduciary.       If you have already completed and
                                                              filed a return, you will need to file an
                   Returns completed after March 11           amended return. You can contact
                   will not have this issue.                  Intuit directly at 1-866-888-4609 for
                                                              assistance with filing the amended
                                                              return.
S-Corporation      Turbo Tax Business issue - For             Intuit has sent an e-mail and letter
Section 179        those electing to pay composite tax,       advising taxpayers: For returns not
expense            Section 179 expense is not being           filed, Intuit will have a software
                   deducted from the total distributable      update available on March 11.
                   income
                                                              If you have already completed and
                   Returns completed after March 6 will       filed a return, you will need to file an
                   not have this issue.                       amended return. You can contact
                                                              Intuit directly at 1-866-888-4609 for
                                                              assistance with filing the amended
                                                              return.
Partnership 179    Turbo Tax Business issue - Section         Intuit has sent an e-mail and letter
depreciation       179 depreciation for 2006 was              advising taxpayers: For returns not
                   transferred from federal return to the     filed, Intuit will have a software
                   state return into the 2007 amount          update available on March 11.
                   column. This makes the
                   depreciation incorrect.                    If you have already completed and
                                                              filed a return, you will need to file an
                   Returns completed after March 6 will       amended return. You can contact
                   not have this issue.                       Intuit directly at 1-866-888-4609 for
                                                              assistance with filing the amended
                                                              return.

The department will continue to monitor the situation closely. Concerned taxpayers may contact
Intuit at 1-866-888-4609.

To read the department’s news release from March 8, click here.

Follow the latest news and updates from the Minnesota Department of Revenue on Twitter and
Facebook.

                                               ###

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:701
posted:3/12/2013
language:Unknown
pages:4