Best Payroll and Timekeeping Services in Tampa, FL

After a while, we realized that the tax bill was being reported from "oil and gas income" of $263k which was impossible as the client didn't work in oil or gas nor did they have investments in oil or gas. Upon reviewing the taxpayer's tax docs he used to self-prepare, we realized he had mistakenly entered his QBI (wages + UBIA) line under oil and gas income in Turbo Tax which produced a $23k AMT Tax to produce. Because the taxpayers didn't know better, they weren't alarmed, didn't pry further, and instead started paying the bill. We immediately amended and were able to get the taxpayer's $23k balance removed and all monthly payment plan payments returned. Phew! If they hadn't reached out, they would've paid $23k in taxes for absolutely no reason and wouldn't have ever known the wiser. Instead, they're getting $6k back from installment payments which they're able to reinvest in their for-profit or spend on their family during the upcoming holidays! If you self-prepared your taxes and aren't 100% sure why your tax bill is so high, please reach out to our Tampa Tax Planning specialists!