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Intuit’s TurboTax software experienced a major failure last night as slackers who waited until the last minute to complete and file their returns overwhelmed the service and took down the whole eFile process. The TurboTax message boards are lit up with irate customers demanding the heads of various Intuit executives (and the poor lacky that has to communicate with the customers, who takes the name TurboTaxPatsy).

I think the moral of the story is to not procrastinate and then hope for the best. If you leave no room for error you are hoping for perfection and that rarely happens; especially when it is a process that is completely out of your control.

Intuit is working with the IRS to try and get them to waive penalties for customers who tried to file last night but were not able to. Personally, I hope the IRS doesn’t waive the penalty but Congress would jump down their throats if they did that; so I am expecting that the penalties will be waived for any customer that can prove they attempted to file their returns on time.