It sounds like you likely chose to pay your TurboTax fees out of your Federal refund. A bank debit can occur in a couple of situations. Either your Federal refund has been delayed at the IRS for a prolonged period of time, or the IRS has reduced the refund amount to where it no longer covered the TurboTax fees.

Does TurboTax take money from your bank account?

In TurboTax, you can pay your IRS taxes directly from your checking or savings account with direct debit. The IRS will withdraw the entire owed amount from your bank account. Direct debit for partial payments isn’t available.

Why is TurboTax bad?

TurboTax is an evil, parasitic product that exists entirely because taxes are confusing and hard to file. The best way to escape this trap is for millions of taxpayers to start doing their own taxes in hopes of weakening Intuit and H&R Block and depriving them of money they could use to lobby against auto-filing.

How does TurboTax work to file taxes online?

File taxes electronically (e-file) and receive email confirmation from the IRS once your online tax return has been accepted. Then, easily track your tax return on your phone with our TurboTax mobile app to see when your refund will hit

How much does it cost to use Turbo Tax?

Good ole Turbo Tax is super cheap. It costs us only $75 because we buy the home business deluxe version which covers single member LLCs. The base version I believe is free for the federal filing.

Do you need an accountant to use Turbo Tax?

In theory, Turbo Tax should be aware of all of the latest deductions and ask you the right questions so you can take advantage of all of the tax breaks much like an actual accountant would.

Why did I get errors on my Turbo Tax Return?

But as soon as we received our tax return, we immediately noticed some errors thanks to TurboTax. For one thing, there was a typo and the cost basis for one of our stock transactions was completely off. Granted, it wasn’t a straightforward transaction, but it should have been entered correctly.