So add me to the pile. Same situation - started when I paid AMT (correctly) in 2011, the following year, in 2012 the WRONG amount was carried forward. Now I'm being audited. Windfall for the IRS.
Also, I want to point out to you all to CHECK the number that the IRS comes back to you as owing for the tax years in question. In the case where you take the AMT credit you cannot take the standard deduction. SO when you get the audit letter from the IRS make sure you change BACK to he standard deduction to calculate the true tax you owed for that year. (If your itemized taxes were greater than the standard deduction that year then this doesn't apply to you).
For instance, in my case the itemized deduction was about 18k for the year I'm being audited, so when the IRS calculated what we owed they STILL used that itemized deduction instead of giving me the larger standard deduction of 24k. When i re-do the taxes from that year using the standard deduction i find that i would owe the IRS about $3000 LESS than what they are telling me.
I think it's kind of crappy of the IRS to not switch it back to the standard deduction in their calculations of what was truly owed. I would hope that they at least understand the deductions well enough to know that is how it works.
I have not spoken to TT or IRS regarding this yet. All that fun lies before me, any advice would be welcom.
I assumed that TT would not pay the taxes but I'm shocked to find out that they won't cover the fees/interest etc. It's so obviously their error. Whether the error was in verbiage where they 'guided' a user to enter a number or they programmatically copied over the wrong number, the blame is on them. And from what i can tell reading here it started in 2009 and went as far forward as 2015!
What other tax tools have folks switched too? I'm having a hard time finding one I like.
Thanks!
Donna
