February 11, 2009

Avoid Taxact, At Least For Now

Not long ago i mentioned Taxact as a free option to filing your taxes. I've never had a problem with them and neither has anyone that has used them that i know and that's ALOT of people.

Anyway, anyone who filed with them between the 16th and 20th filed with an incorrect formula in place for self employment taxes. There may be other issues as well that are affected but so far that's the major one. Basically the formula caused people to get more refund than they should have gotten and the IRS is debiting the overage from the bank accts of the affected persons.

Now according to Taxact, THEY caught the error, reported it to the IRS and are working to fix the situation, however, person's affected aren't responsible for the mistake made by Taxact's formulation if you ask me. I agree that the IRS shouldn't pay something that isn't owed, BUT people are going to use what they were refunded and for some people it's going to be a HUGE issue. I think Taxact should stand beside it's product completely and if that means giving back what the IRS took then so be it. Taxact did the math, not the consumer.

Now so far Taxact is NOT saying they will definitely NOT help the users affected, but until this is resolved, I'd avoid them. They have a chance to really show they stand behind their product or fail miserably, we'll see what happens. So far i don't know if it's going to be something that affects me, I sure hope not!

In the meantime, there are other great tax software titles and tax services online that are reasonable and easy to use. It's really a shame though that this issue came up because Taxact has been the best i've seen so far. Hopefully they'll do the right thing and help their customers through this. As soon as I hear what they've done for the people I know who were affected I'll let ya know how it's been handled.

So far i'm disappointed in them because they didn't notify their customers at all that this was even an issue and there's nothing on their site either. People are finding out by noticing hundreds of dollars being gone from their bank accounts. Considering they are saying over the phone via they're customer service reps that THEY found the mistake first, that's not exactly good customer service. They could have at least warned customers that they COULD be affected. Like I said, we'll see what happens and how they handle this. It will be very interesting to see if they stand by their product or simply decide it's not their problem.


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