Just hypothetically, let’s say you haven’t filed your taxes yet. They’re due April 18th -- you’ve got less than a month to go. And if you plan to download TaxAct or TurboTax, maybe think again: the U.S. Government Accountability Office estimates that fifty percent of self-prepared tax returns contain at least one error.
But what about the other option -- say you follow those waving green flags, or the person on the corner in a Statue of Liberty costume, and pay a professional to do your taxes. Well, the GAO found that sixty percent of returns done by a paid preparer had an error.
So when it comes to filing taxes, does anyone know what they’re doing?
Ben Steverman, personal finance writer for Bloomberg, guides us through the do's and don'ts of getting your taxes done, within your budget and without getting hustled.