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Liberty Tax miskeyed our AGI on our 8962 worksheet which created a $12976.00 tax obligation!!!! According to the 8962 instructions, you are to put the AGI from line 38 of the 1040A on 2A of the 8962 form.

As you can see from the attached copies, line 38 from our 1040A is 62598.00, and the amount they put on line 2a of the 8962 form is $64454.00. This amount is nowhere to be found on our 1040A. I can only surmise that it is a simple typo on the part of the person who entered. Due to this simple mistake, our tax obligation was $12798.00!!!!!

We have NEVER had to pay anything CLOSE to this amount. This is a 31% Tax Rate on our income!!!! The thing that floors me is that your staff was totally nonchalant about the whole thing.

I am attaching copies of these two forms. I will never ever ever ever ever recommend ANYONE to you people!!!!

Product or Service Mentioned: Liberty Tax Tax Preparation.

Reason of review: Poor quality of work.

Monetary Loss: $12978.

Preferred solution: I want everyone to know not to use Liberty Tax Preparation..

I didn't like: Dont check their work properly.

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Anonymous
#1569638

Hi, line 2a actually says "Modified agi" so it looks like you had $1856 of nontaxable income that was required to be added back into your agi to complete the 8962. Look on your 1040a at the lines below the wages line and see if you can see anything adding up to $1,856.

Did you have social security income? Was it around $12000? That would cause about 1800 to be untaxable, and therefore be added into your AGI to come up with your Modified AGI line 2a on your 8962. Your attachments are not viewable to me on this website.

Wish I could see how it all was put together. IRS form 8962 instructions say: Modified AGI. For purposes of the PTC, modified AGI is the AGI on your tax return plus certain income that is not subject to tax (foreign earned income, tax-exempt interest, and the portion of social security benefits that is not taxable). Use Worksheet 1-1 and Worksheet 1-2, later, to determine your modified AGI.

The Affordable Care act is a pain. It never should have been part of our taxes. How did you figure 31 percent tax rate? I see approx.

20 percent tax rate. 12798 / 64454 = .1985 or 20 percent, same as my own tax rate for 2017.

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