Filing Your Taxes Online

Electric filing is one of the easiest ways to file your tax return. It is a hassle-free and easy way of filing IRS forms for 2022 taxes. Regardless of your experience with filing your income tax returns, tax software can be fairly easy to navigate if you do not have a lot of “extras” when filing your taxes. Tax software helps you complete the income tax process quickly and is also much more affordable than hiring a CPA. Filing is usually a much easier process online when you already have all the documents needed including your pay stubs.

For many, tax season can be one of the most stressful times of the year. Trying to understand how to fill out the IRS tax forms can be extremely confusing, frustrating, and very difficult due to all the complex codes and deductions. Using online forms, such as those that can be accessed via FormPros, can make the process easier to understand. Filing is usually a much easier process online.

Before you do anything, you need to decide if filing your taxes online is more beneficial than hiring a CPA. The more complex your tax situation is, the more likely it would be that hiring a CPA would be your best decision. You may have questions like, “Can I claim my foster child on my taxes?”, “What is a W-3 Form?“, or “What form do I fill out if I am self-employed?”. If you have questions that you can’t find direct answers to online, you may consider contacting a CPA. If you plan to file your taxes online, you will begin by choosing between an e-file program or tax software. 

E-Filing

E-Filing programs are becoming one of the most common ways that individuals are filing their taxes. When hiring a good startup cpa, more than likely they will be using electronic filing since it is quicker for them, too. If you choose to file online, your refund will come back to you much quicker. 

Tax Software

Using tax software allows you to save your information which makes it nice for future tax seasons. Once all of your information is in the software, you will be able to just make edits from one year to the next.

What to Remember

When you file taxes electronically (online), be sure to read your W-s form correctly. Before you even begin, it is important to read the entire W-2 form, especially the back so that you can know what the information in each of the boxes means. Once you have completed the online forms, make sure you print your taxes to keep for your personal records. If you go the route of using tax software, it is also important to print out your documents and the confirmation that the tax software provides showing that the IRS has received your tax forms. Electronics can have glitches, so printing is always very important.

Maybe you are unsure of completing your own taxes. Tax laws can be overwhelming and they change often. Filing online prevents you from having to keep up with all of that information. Everything will be up to date when filing online. As far as using tax software, many of them will offer additional support and advice if you find yourself needing it. 

Read all the information the software provides, even if you have done your own taxes in the past, and feel confident that you know what you are doing. Better to be safe than mess something up on your taxes and have to go back and make changes later. Sometimes, there are additional deductions that you have never taken advantage of before. By reading all of the information, you might find new deductions allowed for your situation. 

There are many benefits to filing your taxes online or via tax software. Look over your personal tax situation and decide if it is best to file electronically, use tax software, or hire a CPA. Either way, be sure to submit your taxes by the deadline. Normally, the tax deadline is April 15th but because it falls on Good Friday this year, the deadline has been extended to April 18th. As of right now, there is no indication that tax deadlines will be delayed any later than they were for 2021.

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