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Posted by Jim McClaflin, EA, NTPI Fellow, CTRC

Advantages of Having Your Taxes Filed Online

Advantages of Having Your Taxes Filed Online

One of the things most people do not look forward to is the tax period and it is not surprising as filing taxes is complex with a series of forms, and mistakes could be costly. As a result, it is also not surprising that many people will prefer to file online compared to dealing with a series of correspondence involving receipts and other paperwork. This, however, can also be done by a tax professional on your behalf, ensuring an accuracy that might become daunting to you, though online filing can be quick, faster, and less cumbersome. Here are some of the benefits:

Filing online is convenient. 

With your tax professional, filing online has no location restrictions as one can file online anywhere as long as there is an internet connection.

The online reduces the tendency of mistakes as well. Also, it has the advantage of the possibility of saving whatever you have done and continuing later.

Tax Records are available electronically.

No one prays for an audit, but it is a good idea to keep your tax record for as long as seven years. It is a risky business to throw out vital tax records because those records could get compromised. Yet, if one will keep these files, it will require diligence and stacking up paper files, which is prone to loss and destruction from fire, floods, etc. 

With e-filing, you can keep a series of tax records for as many years as you desire. It takes no physical space with a low probability of compromise compared to having them in drawers. With this, you can retrieve the data anytime you need it.

Processing is Faster 

Filing online is faster as there is no need to read instructions for every form you want to file and determine what you have to put in each box. Filing online is pretty easy as the questions are intuitive, and you will know where to input other information.

With an electronic signature as well, there is no need to write your name countless times, all in the name of filing. All you have to do is draw your signature on your trackpad, and it can be copied anywhere you need to. 

In addition to the duration you spend before your PC trying to file your return, the online filing also ensures that the info gets across to the back-end as soon as possible. Meaning that Uncle Sam gets your tax return immediately you click send. This removes the waiting period present in postal service, waiting to get to the mailroom, etc.

Another advantage is that you get your refund faster if you qualify for one. This is because your refund information will be available on time, and the direct deposit makes it easy to get the funds wired to the account you supplied faster. This is better and faster compared to waiting for a physical check to be delivered to you.

High Degree of Accuracy

In filing taxes, accuracy is vital. One might be slammed with ridiculous fines and penalties for supplying wrong or incorrect information to Uncle Sam. This dramatically reduces when you file your tax online, provided you submit authentic information. 

You get more tax refund Money.

One of the benefits of filing online is that some programs and software are designed to save you money. Some programs specifically look for tax breaks, credits, and deductions that you qualify for and make suggestions before completing the tax return. 

There are cases when many people get to discover extra deductions they could engage by using some filing software. This saves them money and increases what they get as an overall tax refund. 



Jim McClaflin, EA, NTPI Fellow, CTRC
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