2007-11-28 01:58:15 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
yes
There are no "upgrades" or updates available year to year.
That is how they make money!
2007-11-28 02:09:01 · answer #1 · answered by Wayne Z 7 · 3⤊ 0⤋
Yes. There are many changes to the tax code each year, so software has to be updated. You need the correct version for the tax year you are working on. If you have a simple return and aren't carrying much information forward from year to year, shop around. There are lower cost and free alternatives on the web and provided by volunteers. Check out irs.gov and your state tax website once the season begins.
2007-11-28 02:09:04 · answer #2 · answered by Knightly 2 · 4⤊ 0⤋
Yes it does. The numbers change every year, so if you use the wrong year your return won't be right. For example, exemption and standard deduction go up every year.
2007-11-28 03:26:59 · answer #3 · answered by Judy 7 · 3⤊ 0⤋
You have to buy a new copy every year. All tax prep software is for a single year only, not just TT.
2007-11-28 03:42:52 · answer #4 · answered by Bostonian In MO 7 · 2⤊ 1⤋