1) The IRS loves Turbo Tax. The program is very conservative when it comes to deductions and can’t make judgement calls that could save you money.
2) You can’t ask Turbo Tax a specific question about your situation.
3) Making one honest mistake can quickly destroy years of frugality. It often takes 2-3 years for these mistakes to surface. By this time, the interest and penalties can be staggering.
4) The average person pays $35 for the Turbo Tax program, and spends 6 and a half hours doing the preparation. If you could earn $15 per hour, then your time alone costs you $97.50. This is time you could spend working or spending with your family.
5) Even treasury secretary Tim Geithner can’t prepare his taxes correctly with Turbo Tax. If he can’t keep up with the 61,000 page tax code, then it is safe to say that the average taxpayer may be unaware of a few of the most recent tax provisions.