TurboTax CPA Select connects you online to a qualified CPA without having to leave the comfort of your home. Intuit TurboTax has long been the leader in do-it-yourself online tax preparation, now, we’re offering a ‘do-it-for-me’ solution for individuals and small business owners who want a credentialed and highly qualified CPA to prepare their return.

Have a CPA prepare your return in just three easy steps:
1.       Go online to Intuit TurboTax CPA Select to find and choose a qualified CPA. Choose from a national network of CPAs, based on background information and experience, as well as user-submitted reviews and feedback. All of the CPAs are qualified and pre-screened.
2.       Agree on clear, upfront pricing. Receive an estimate of how much the preparation of your taxes will cost and choose to accept or reject the offer, and/or receive a full breakdown of charges.
3.       Securely upload tax documents anytime, from anywhere. Easily upload your prior year return along with any documents for the current year’s taxes – 1099s, W2s, etc – and the CPA will begin working on your tax return.

With TurboTax CPA Select, you can be located anywhere in the country and collaborate with the CPA doing your taxes using a secure online connection, with options to also connect via phone, video, text or email. TurboTax CPA Select offers convenience with guaranteed satisfaction and your maximum refund possible from a state-certified CPA, with fixed pricing that does not change.

TurboTax offers a wide range of tax preparation services to meet your needs. No matter what you choose, our experts are by your side, every step of the way so you can be confident you’re getting every penny you deserve.

Even if you had a chance to catch our commercials highlighting our professionals, here’s a chance find out more about one of our stars, Joy Shaw, CPA.

Joy Shaw, CPA

What is your area of expertise and how long have you been an expert in that area?

“I am a tax professional with over 30 years experience in tax and accounting.  I received my Bachelors in Accounting from the University of Illinois and passed the CPA exam in 1980.  I worked in public accounting at Coopers and Lybrand for 12 years (10 years in tax) specializing in high net worth individuals, banking, and consolidated tax filings.”

“I have been at intuit for over 18 years, where I have done tax technical training, worked as a Tax Analyst Programmer, Tax Development Manager for Small Business products, Federal Individual and State Individual products, and Electronic Filing Import.  I presently work as a Tax and Customer Experience leader for the Tax Review Board.”

What do you like about being a Tax Expert for TurboTax?

“I love being a tax expert for TurboTax, because we get to help 20 million taxpayers get their taxes done.  We also are able to stay abreast of tax laws and hear about tax changes before many tax preparers in the industry.  I also love being able to contribute to making the tax law changes easier for the general public to understand.”

What do you like to do in your spare time?

“I like running, aerobics, dancing, reading good mysteries, Sudoku, puzzles, and spending time with my husband and 3 children.”

What is the top tax question that you hear and what is your answer?

“The most common question I get asked is how to save money so you don’t have to pay as much in taxes.  My answer is to contribute to your retirement funds, either 401K or IRAs, take advantage of all your eligible tax credits like education, child care, and earned income credit.”

Our TurboTax professionals have a wealth of experience.  Check back soon to find out about more of our Super Stars!

It’s not that uncommon to forget something on your taxes considering how complicated they can be. Perhaps you didn’t record all of your deductions and credits or you entered the wrong filing status. A 1099-INT from one of your banks gets lost in the mail and delivered a few months late? If you make a major mistake, it becomes necessary to file an amended return. Here are some situations that call for filing an amended return:

• Change in filing status
• Inaccurate reporting of number of dependents
• Mistake in reporting your total income
• Error in figuring deductions and/or credits
• You e-filed, have one of the above situations, and you received confirmation from the IRS or state taxing agency that your return was accepted

There is an exception to the above rules.  Let’s say you e-filed your tax return, but it’s rejected and you discover you made a mistake that usually calls for an amendment.  If the return is rejected, you can fix the error without an amendment, because the IRS did not accept your return.  If you missed the e-file deadline, print and paper file your corrected tax return.  Also, be sure to pay attention to your state tax return.  In some cases, it may be accepted although the federal tax return was rejected.  If that is the case, you will need to amend your state tax return.

There is usually no need to file an amended return if you have made a calculation error. Normally, the IRS will fix these minor mistakes (this is most common with paper returns). Additionally, if you forgot to include documentation, such as a W-2 with a paper filed return, the IRS will request the documentation.

How to File an Amended Return
If you need to file an amended return, you should use Form 1040X. You can file an amended return for multiple years, but you need a separate Form 1040X for each year, and each return should be filed separately. As you fill out the form, understand that Column A should include original figures, and Column C should show the new figures. The difference between the two should be listed in Column B. If you are listing changes on various schedules, such as Schedule A or Schedule C, you will need to include them with your Form 1040X.  There is no need to worry about the complicated calculations, TurboTax does the behind the scenes calculations for you when amending your return.

When you are claiming an additional refund, you should wait until your original refund arrives before you file your Form 1040X. You can cash your check, but you still should wait until your current tax return is resolved. That way, you know where you stand. In order to qualify for an additional refund, you will need to file within three years from the date of your original return, or within two years of paying your tax (whichever is later).

If your mistake resulted in under-paying your taxes, you should file your amended return as soon as you possibly can. The longer you wait to file your 1040X, the more you will pay in interest fees and penalties, if you owe. Unfortunately, there is no way to file your 1040X electronically but this may be offered sometime in the near future.

One important thing to remember when amending your tax return is to always keep a copy of your original filed tax return and create an amended tax return from an additional copy.

You can correct mistakes on your tax return with the help of an amended return; just make sure you follow proper procedures.  For more information on amending your return see Amend a 2010 Tax Return.

Each of these employees has the opportunity to connect directly with customers so they can better understand what questions you have and to learn more about how we can make TurboTax even better. In fact, more than 85 percent of all TurboTax employees spend time with customers – that’s true across the team, from the GM of the TurboTax business down.

Last week, during one of the busiest filing periods, TurboTax employees from every part of the organization came together to help customers. They took time out of their day job to answer questions via phone, chat, email, even through Twitter.

There’s nothing more important to us than helping our customers. It’s part of what makes Intuit a great place to work. Our focus on delighting you.

Here’s some information to get you started and help you make the right choices for your situation.

What’s a W-4?

Whenever you start a new job, one of the forms you get from the Human Resources Department is your W-4, also known as Employee’s Withholding Allowance Certificate. This form is filled out by you based on your current circumstances and it helps employers know how much to withhold every paycheck for your taxes.

The goal is make sure you’re not paying too much or too little of your hard earned money to the government.

Do You Need to Change Your W-4?

As a rule of thumb, you should review and/or update your W-4 whenever your tax obligations. Possible changes include:

• marriage
• a change in the amount of itemized deductions
• a change in the number of dependents

It is easy to update your form and it should take a total of 10 minutes or so. You can do it by hand or you can use the withholding calculator the IRS provides on their site. You can also check out Topic 753 to see what other circumstances can affect your W-4.

Different Tax Brackets

Right now that are several tax brackets that the United States uses based on income and filing status. They are currently:

Source: IRS CFR 601.602

If you’re curious about your personal tax obligation, check out the IRS’ tax table to give you an idea. If you have any questions, speak with your Human Resource representative for specific instruction.

Thoughts on Raises and W-4s

How many of you received raises in the last year? How do you plan on using or spending it? When was the last time you’ve reviewed and or adjusted your W-4s?

Infographic by Column Five Media.

Embed the above interactive post on your site using the code below:

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1. Determine your filing status. Your marital status at the end of the year determines how you file your tax return. If you were divorced by midnight on December 31 of the tax year, you will file separately from your former spouse. If you are the custodial parent for your children, you may qualify for the favorable head of household status. If not, then you will file as a single taxpayer, even if you were married for part of the tax year.

2. Consider the tax implications of support. Child support is not deductible to the person who pays it, but alimony is. Likewise, the recipient of alimony must claim it on her tax return, but child support isn’t reported as income. If you rolled your support together into “family support” in your agreement, that makes it fully taxable to the recipient and deductible to the payer, just like alimony.

3. Don’t run afoul of the special rules regarding support. If alimony payments are concentrated in the first year or two after divorce, the IRS may consider the money to be non-deductible property settlement. And if alimony is scheduled to end within six months of a child’s 18th or 21st birthday, the IRS may consider the alimony, in reality, to be disguised child support.

4. Review your divorce decree to see who will claim the children as exemptions. If divorce agreement did not specify who claims the children as exemptions, then the exemption for your kids goes to the custodial parent. If you have joint custody, the exemption goes to the parent who has the child the greatest number of days during the tax year.

5. Get signed Form 8332 if required. If you are entitled to claim the tax exemption for children who spend less than six months of the year living with you, then you will need your ex-spouse to sign IRS Form 8332 (Release of Claim to Exemption for Child of Divorced or Separated Parents). A copy of this form must be filed with your income tax return for you to claim the tax exemptions for children not living with you.

6. File first if exemptions are an issue. If you are entitled to claim the children on your return, but your ex threatens to claim them instead, file early in the year. That way, since you’ve already claimed the children, the IRS will make your ex prove he or she was entitled to the exemption.

7. Claim the child care credit if you are eligible. If you are the custodial parent and you incur work-related child care for children under the age of 13, you may be able to claim a credit for a portion of the cost. Unlike the exemption, which can be assigned using IRS Form 8332, the child care credit is available only to the custodial parent.

8. Review legal fees paid during your divorce. Although most legal fees are not tax-deductible, fees you paid for advice concerning the tax consequences of your divorce can be taken as an itemized deduction on Schedule A of your tax return, as can fees incurred to obtain alimony. Other fees, such as the cost of preparing a new title for your rental property, can be added to the tax basis of your assets.

9. If you are employed, change your withholding on Form W-4. You can claim one additional exemption for every $3,600 or so of deductions, including alimony payments. If you are receiving alimony, consider asking to have extra tax withheld from your paycheck to cover your new tax liability.

10. Make estimated tax payments if withholding isn’t enough. If your withholding won’t be enough to cover your taxes for the coming year, set up quarterly estimated tax payments so that you won’t owe taxes and penalties at the end of the coming year.

Divorce may not be as inevitable as taxes, but it certainly brings complications to tax filing. Follow these ten tips, and the process should go smoothly in the future. Once your divorce questions are answered, TurboTax can handle your tax return.