| Starting January first, you start to notice the advertising | | | | situation: a win for you (you get your money faster) |
| everywhere: TV, radio, Internet, newspapers, billboards, | | | | and a win for the IRS (less paperwork, less employee |
| flyers, you name it. Tax time is upon us and the | | | | expenses). |
| advertising blitz will continue at least until tax day, and | | | | 2. Convenience. No longer do you have to bring |
| then keep going a couple weeks later for the late filers. | | | | documentation to a tax preparer, or physically have to |
| The picture is not radically different from what it was a | | | | go mail in your return. No matter the time when it's |
| few years ago, except that the preference seems to | | | | convenient for you, whether you are at home or at the |
| go towards online tax preparation. | | | | office, you can file your return as long as there's an |
| In reality, online tax preparation is not really new. Many | | | | Internet connection available to you. |
| tax professionals have been using this exact method | | | | 3. Error spotting and correction. E-filing reduces the risk |
| for two decades now. The difference is that it was | | | | of error in two ways. First of all, as you're entering |
| used by professionals, and now thanks to the Internet | | | | your information, there are built-in error check features |
| it's available to everyone. Online tax preparation and | | | | that verify the accuracy of your input, and there's no |
| filing has evolved to meet the needs of individuals and | | | | guesswork as to what applies to what. Secondly, |
| businesses alike. | | | | when you mail your return, someone at the IRS has to |
| This method is so popular because it offers | | | | enter it into their database. There's a risk of error |
| advantages that regular filing can't match. Let's review | | | | there, that's eliminated when you e-file because the |
| them. | | | | information is already in electronic form. |
| 1. You save time and money. The money saving part | | | | 4. Maximum deductions. Tax filing software is updated |
| is obvious. Tax filing software costs a fraction of what | | | | continuously to reflect changes in tax law. The |
| a professional would charge you. Even better, there | | | | programs incorporate deduction search tools that |
| are free options available. As for saving time, you | | | | essentially eliminate the need for you to worry about |
| simply type your information instead of filling it out | | | | and keep track of which credits and/or deductions are |
| manually. Plus, in case you make a mistake, it's so | | | | applicable to you. Via the questions the software asks |
| much simpler to correct it on a screen than it is to re-fill | | | | you and the other information you enter, the program |
| a form! | | | | tells you exactly what applies to your situation, which |
| Another time-saving feature of electronic filing is the | | | | ensures that you get the highest refund that you |
| fact that you will receive your refund faster. You can | | | | qualify for. |
| even go totally paperless and have your refund | | | | Filing taxes online makes tax preparation much quicker |
| deposited in your bank account. This is a win-win | | | | and easier. |