But TurboTax is another story. Millions of Americans rely on the software to guide them through the morass of state and federal tax regulations. Has the software been updated to reflect recent changes in the law? TurboTax maker Intuit has not yet responded to emails but if it does, this column will be updated.
UPDATE: In response to this column’s inquiry, Lisa Greene-Lewis of TurboTax maker Intuit emailed the following statement:
When the calculation was run using the “What if” tool a few months ago for tax year 2018 ( taxes to be filed in 2019), the tool was not updated with future tax law. The IRS is still in the process of issuing additional guidance.
Following the tax reform bill being signed into law, TurboTax first concentrated on updating our tax year 2017 products with the few new provisions in the law that impact 2017 taxes so that our customers could accurately file their 2017 taxes. We also updated our TaxCaster app tool, which allows customers to get an estimate of their tax liability for 2017 and also a side-by-side comparison of how the new tax reform law impacts them. We continue to update our stand alone tools for future year tax scenario calculations and can assure you that our tax products used to file taxes are up to date for the 2017 tax year (taxes that are being filed now). Once we receive additional guidance from IRS on the 2018 tax provisions for taxes filed in 2019, our 2018 tax products will be updated as with previous tax law changes.
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