How time flies! Remember when you filed for a tax extension last April and gained a six month reprieve in filing your taxes? Well guess what? Monday, October 17 is right around the corner. Whether you are due a tax refund or owe money, you probably want to spend as little time as possible filing your tax return, so my advice is to prepare and file your tax return online with e-file. Filing on line saves you time and isn’t expensive, and it has these special advantages:
Accuracy. If you prepare your tax return by hand, you are bound to make a math error, transpose numbers or write a figure illegibly, no matter how careful you are. When you prepare your tax return online, TurboTax does the calculations for you based on your entries, so all you have to do is check that you entered the information accurately from your W-2 and 1099 forms. You can even snap a photo of your W-2 and TurboTax will automatically put your information directly into your tax return – straight from the photo! Also, TurboTax securely imports tax information directly from more than 1.4 million employers and financial institutions, eliminating data entry and increasing accuracy for effortless tax preparation.
Saves Time and Money. Forget waiting in line behind other late filers at a tax store. When you prepare your taxes online you can quickly and easily file your taxes from the comfort of home, saving you time and money. Plus, you get to stay in your pajamas.
Assurance. Once your tax return is sent electronically to the IRS, you will receive an acknowledgement from the IRS that your tax return was received. You’ll usually receive that notice within 48 hours of filing.
Complete. Filing your tax return electronically is fast and easy. But it is also important to take the steps needed to make the process of preparing your input for your tax return easier. Before you start, gather together all the paperwork you’ll need. If you itemize your tax deductions, have your receipts for tax-deductible expenses all together. The more organized you are when you sit down to prepare and file your tax return, the faster you can complete your taxes and get on with your life. You don’t need to worry about knowing what expenses are tax deductible. TurboTax will ask you simple questions relevant to you and give you the tax deductions and credits you’re eligible for based on your entries.