I have always used TurboTax for my taxes, but this year it has caused me an up-to 120 day delay in receiving my federal tax refund. Here was the issue. I did my taxes (in TurboTax) in early February, and as a result of getting a nice, needed refund, I decided to file my taxes in mid-February. At that time, TurboTax found no errors in my return. Twenty two (22) days later, I receive a letter from the IRS stating that my return needed to be reviewed and this review could take up to 120 days to complete. I then went back into TurboTax, to verify all reporting (which was 100% accurate), but now the final TurboTax review is advising that line 16a of Form 1099-R needed to be populated before filing; this check / form requirement was obviously caught then added to TurboTax after I filed!
So I guess the lesson learned here is to use another more reliable tax software, or use TurboTax but don’t file your return early.
