How to File Taxes the Best Way
How to File Taxes Faster with these Tips
There are many reasons to look for tax filing help, especially if you’re not sure how to file taxes. Many individuals feel that the tax laws are very complicated, and they’re simply not comfortable in filing their own tax returns.
For these individuals, tax filing help can come from a couple of sources. One option is going to a tax preparer and having him/her prepare the tax return. This may appear to be the easiest way out of their dilemma; however, the taxpayer is ultimately responsible for the return.
If the tax preparer isn’t competent, or makes an error or omission, the IRS will look to the taxpayer to get the matter resolved. Additionally, if there are penalties assessed, the taxpayer will be charged. Let me hasten to add, a reputable tax preparer should offer to pay those penalties if he/she was at fault.
The point that we’re trying to make is every taxpayer should have some knowledge of how to file taxes and be familiar with the information contained in their tax return.
Another option is to take advantage of one of the online tax filing sites. Even though you may not be familiar with the tax laws, the online tax sites today are highly intuitive.
Our site at 1040.com, will ask you a series of simple interview questions. Your answers will allow the software program to essentially complete your tax return for you. It will select your filing status and also the type of return that you are required to file.
If your gross income falls within certain limits and qualifies for free tax filing for your federal return, it will automatically do that. It also makes sure that you get every deduction and tax credit that you are eligible for.
[bctt tweet=”No need to complete a CPA’s organizer. Our interview questions take care of that.” username=”FileTaxOnline”] They would also have the taxpayer’s various tax forms for entering the information into their program.
Basically, the online tax system works the same way. Plus, it guarantees accuracy, easy to use, lowest cost, and maximum refund based on the information submitted. When you compare the cost to have a tax professional to prepare the return versus our online tax service, ours wins hands down.
If you want to learn more about how to file taxes, there are many good publications at the IRS, as well as the library. If you make a mistake in filing your taxes, such as not reporting an item of income, or perhaps you received a tax form after your return was filed, an amended return needs to be filed.
As soon as you discover the mistake, prepare the amended federal return and also the state. If you catch it early enough, and amend the return, you may be able to avoid any penalty.
Some individuals prefer to purchase tax software for their own computer to file their taxes. If you’re more comfortable in doing this, and it works for you, then do it. Unfortunately, most of the tax preparation packages that I’ve seen, cost more than our online tax filing site.
No matter if you’re going to a professional tax preparer or will be doing your taxes online at our tax filing site, get everything organized first.
Get a copy of your return from the previous year and compare each item of income and expense. The tax return is the best guideline as you can check every item to make sure nothing is missed.
If you itemize your deductions, you can review each of those as well. The better organized that you are will make for an easier tax filing.
Just remember one very important point…no matter who prepares your tax return, you are ultimately responsible for the return. Make it an easier filing season & visit our online tax site. It will show you how to file taxes and get the biggest refund you are eligible for.