TurboTax’s Bob Meighan: There’s No Sense in Panicking About the April 15th Deadline

Posted on by Caleb Newquist

With a little more than just 24 hours to go until the end of the traditional filing season for 2010, some taxpayers might be freaking out. To help prevent this we got the chance to speak with Bob Meighan, TurboTax VP and CPA yesterday morning about what to do with just a few short hours away from the deadline, what taxpayers have been struggling with this filing season and if he had any special advice for a certain customer:

And that extension form you need? It’s Form 4868. Even if your preparer got nabbed in Operation Brass Tax, just make it easy on yourself and file the extension (we did). You’ll feel better.

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“It isn’t [my idea] to have the rich pay more taxes. It’s to have the ultra-rich pay more,” he said on Bloomberg Television Friday. “It isn’t to have the rich pay more taxes. It’s to have the ultra-rich who are paying very low tax rates pay more taxes. There’s all kinds of ultra-rich who pay normal taxes, but there is a small segment–but you can find them very easily–who pay very low taxes, including me. People who make money with money only pay very low taxes at very high levels of income. … What I’m talking about would probably apply to 50,000 people out of 310 million in the country. [BBR/The Hill]

Quote of the Day: Dear Abby Should Not Be Giving Advice About Taxes | 04.14.10

Dear Ms. Van Buren:

Your response to “Phobic” about her boyfriend’s tax returns contained a significant error. You characterized enrolled agents as “the only tax specialists licensed to practice before the IRS,” which is not true. The fact is, certified public accountants and attorneys are federally authorized to represent clients before the IRS.


The CPA has long been synonymous with reliable, objective tax preparation and ranks as the preferred tax professional among millions of U.S. taxpayers.

On behalf of the many CPAs who prepare tax returns every year, we would be appreciative if you would print a correction in your column.

~ Tom Ochsenschlager, Vice President – Taxation American Institute of Certified Public Accountants, in response to this.