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The TurboTax Accuracy Guarantee is a promise from TurboTax that your tax return will be 100% accurate. TurboTax Accuracy Guarantee ensures that if you receive an IRS or state penalty or interest due to a TurboTax calculation error, TurboTax will pay the resulting penalty and interest.
What Does the Accuracy Guarantee Cover?
What Does the Accuracy Guarantee Cover?
Tax Calculation Errors: If a miscalculation in the software causes you to underpay or owe more taxes than anticipated, and the IRS charges penalties or interest as a result, TurboTax will cover those charges.
Penalty and Interest Reimbursement: If you receive a penalty from the IRS due to a calculation error, TurboTax will pay both the penalty and any associated interest.
Audit Support: While the Accuracy Guarantee itself doesn't cover audits, TurboTax offers additional audit support services that can be purchased separately. These services can provide assistance in the event of an IRS audit.
How TurboTax Accuracy Guarantee Works?
How TurboTax Accuracy Guarantee Works?
TurboTax Calculation Error: If TurboTax makes a calculation error.
IRS or State Penalty: If you receive a penalty or interest due to the error.
TurboTax Payment: TurboTax pays the penalty and interest.
How to Make a Claim Under the Accuracy Guarantee?
How to Make a Claim Under the Accuracy Guarantee?
Ensure you have received an official notice from the IRS showing the penalties or interest due to a calculation error on your TurboTax-prepared return.
Collect all relevant documents, including the assessment notice and any other supporting documents.
Log in to your TurboTax account.
Use the form provided by TurboTax to submit your claim. You’ll need to answer questions about the error and upload the necessary documents.
TurboTax will review your claim to determine if it falls under the Accuracy Guarantee.
If TurboTax is responsible for the error, they will cover the penalties and interest, and may refund the cost of your TurboTax purchase.
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