Friday, 7 September 2012

Don't File Taxes Online Unless You Want an Easier Process and a Faster Refund!

Don't File Taxes Online Unless You Want an Easier Process and a Faster Refund!


By Troy Ahyo

The internet has revolutionized so many aspects of our life. We shop, date, look for places to live, sell our stuff, take classes and even buy our prescription drugs online. We do this because it is faster, easier and more convenient for us.

The internet has also made filing our taxes easier and the process much less painful. People have been electronic filing, or e-filing for years and the IRS notes that over 700 million successful tax filings have already occurred. The technology is time tested, the security levels have been proven (no security breaches noted to date) and the rewards for those who e-file are well documented.

I am sure there are still some of you out there that, for one reason or another, still have not decided to e-file. Well, let me assure you, it's time for you to put down that pencil and calculator and realize what millions of satisfied Americans already know; e-filing is the way to go. In fact, a nationwide survey found that 88% of all people who have filed taxes online were happy that they e-filed.

Here are the primary reasons to e-file:

  • -Faster Tax Refunds - On average if you e-file, you will receive your refund in half the time compared to filing through the mail. In addition, if you opt in for direct deposit into your bank account, you will get it even faster. With e-filing you get your refund usually in 1-2 weeks. When you file via the post office you can get your refund usually in 3 to 6 weeks.

  • Improved Accuracy - The IRS notes a 20% error rate in paper filed returns. E-filing software greatly reduces your chances for errors. Most e-filing software automatically checks for accuracy. As you are filling out the forms, your math is constantly checked and if you forget to fill out a specific section, the software will not allow you to continue until all information is inputted correctly.

  • Tax Submittal is Verified - E-filing is free and when it is completed, you are given an electronic receipt code that verifies your submission. As we all know, filing via the post office requires you send certified mail (if you are smart) and you must endure the inconvenience of traveling to the post office, standing in line and dealing with the USPS staff.

  • Feedback - Within 48 hours you will get an electronic message if your return is acceptable or there are errors that need to be addressed. If there are errors you are allowed to fix them and re-submit without penalty. This option can take weeks if you file offline.

  • Less hassle - You can prepare and submit your taxes from your home. You do not need to leave your house to go to your tax preparer or go to the post office to stand in line.

  • Less Costly - The cost of e-filing yourself is substantially less than paying a tax preparation company. Online you pay anywhere from $9.95 to around $100 for more complicated filings. If you use a tax preparation company like H&R Block or a private accountant, it usually runs in the hundreds of dollars.

Please note, filing online still requires you to organize all your documents and paperwork. You will still, you need to have all your pertinent documents on hand so that you are able to answer all of the filing questions. But don't worry, most of the online tax preparation sites allow you to work on your tax filing for as long as you need. You are able to save changes as you go. Then, when you are ready to continue, you can go back to the site, log on using the user name and password you have chosen, finish your paperwork and e-file.

One of the more popular online tax filing websites out there is TaxBrain.com. Similar to their major competitors Turbotax and H&R Block, TaxBrain.com has a filing process that is user-friendly, accuracy is guaranteed, customer service and technical support is free, and they can file both state and federal taxes for you. I had a great experience using TaxBrain.com [http://www.bestonlinetaxprep.info] and highly recommend it.

Happy tax time and may all your filings end in refunds!

Troy AhYo is an entreprenuer and marketer based out of Woodland Hills, CA. He also buys and renovates properties and has a company that imports from China. He writes articles on topics he is passionate about. www.shouldyoubuythat.com [http://shouldyoubuythat.com]


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