What to Look for in Online Tax Prep and Filing Software
Below is a MRR and PLR article in category Finance -> subcategory Taxes.
What to Look for in Online Tax Prep and Filing Software
Preparing your taxes can be much easier if you use online software to handle the heavy lifting this April.
You're in good company?"IRS data shows that over 68 million tax returns were filed electronically last year, with more than 17 million individuals filing their own returns online.
“There are numerous benefits to using online tax prep and e-filing, but it's essential to do some research to get the best value,” says Debra Gray, tax software manager at CCH.
Consider these key questions when choosing a tax prep software:
Is the Software Easy and Secure?
Online software saves time as there's no need to download it to your computer. Ensure the program is user-friendly, helps you organize your information, and provides necessary support. It should also use recognized security standards to encrypt your data.
Can You Work at Your Own Pace?
Many online tax prep sites let you secure your work with a password and log in as needed. The software should automatically check for errors and provide links to fix them, helping you avoid costly mistakes.
What Happens to Your Return After Filing?
Ensure the program saves a record of your previous year's return so you can easily roll over information for the next year.
Is the Cost Clearly Stated?
Some tax software providers have confusing add-on pricing structures. Look for a program that clearly shows the full cost, including federal and state returns. According to Gray, a good tax program should cost under $40, covering both federal and state returns and e-filing.
What Are the Payment and Refund Options?
Many sites allow you to deduct the cost of the software from your expected tax refund, with options for direct deposit for quicker access to your money.
What Help and Support Are Available?
While the program should be easy to use, ensure it offers support via email or live chat for added assistance.
“Those who’ve struggled with paper filing or unsatisfactory software in the past should explore this year’s online tax software offerings,” Gray advises. “With the right tools, preparing taxes can be less time-consuming, and you might even pick up tips to save more on your taxes now and in the future.”
You can find the original non-AI version of this article here: What to Look for in Online Tax Prep and Filing Software.
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