"In this world nothing can be said to be certain, except
death and taxes." --Benjamin Franklin
The April 15th tax deadline is looming. You sit with pencil and
calculator ready, complicated forms and files spread out across your
desk, checking and double-checking figures, matching up lines and
boxes and amounts--sometimes the only thing that really seems
certain is losing an entire weekend. It’s little wonder that April
is said to be the cruelest month.
It doesn’t have to be this way. Uncle Sam should tax your income,
not your sanity. Luckily, help is right in front of you. Your
computer won’t get you out of paying your taxes, but
it can make the whole process much simpler and
easier.
Uncle Sam gets a facelift with electronic
filing Anyone with a computer, an Internet connection,
and some form of tax preparation software can file a tax return
online with the Internal Revenue Service (IRS). According to the
IRS, online filing promises faster processing, prompter refunds,
lower cost, and greater accuracy than traditional paper filing.
Although the IRS does not charge a fee of its own, you must submit
your information through an online filing company or tax software
program, and there is usually small fee built in for
transmission.
There are numerous resources and tax preparation programs on the
Web that will help you calculate your taxes and file your return
electronically with the IRS. Tax software programs will ask you the
same questions a tax preparation specialist would ask, then make the
necessary calculations. The program will verify your data, maximize
your deductions, and alert you to any questionable entries.
Save with Microsoft Tax Saver One of
the leading tax preparation tools is Microsoft TaxSaver. TaxSaver
contains a wealth of resources including a full set of IRS forms,
tax law information, expert advice and tips for saving money,
sophisticated tax-planning tools, and simple step-by-step
guidance—all to make tax preparation and filing as painless and
accurate as possible.
TaxSaver includes an Answer Wizard that gives easy-to-understand
responses to your tax questions, a Tax Glossary that provides quick
definitions of tax terms and concepts, and you can research tax
subjects further in the IRS instructions and publications included
in TaxSaver. When you have completed and reviewed your tax return,
TaxSaver enables you to file your tax return electronically with the
IRS directly from your computer.
It’s tax time at Money Central If
you’d prefer to prepare your taxes without purchasing software, Microsoft Money
Central is a great free resource. You’ll find all of the federal
tax forms you’ll need, useful tax tips, up-to-date tax news and
information from leading financial providers, and current listings
of tax law changes. Use the quick
reference to answer your tax questions and find tools and
articles on deductions, estate planning, self-employment or property
taxes--just about any tax scenario imaginable.
Other helpful features include the tax
estimator, a tool that will give you an estimate of what your
taxes will be and help you determine the best way to file. Insight
is a complete tax workshop full of tax planning tips, ways to find
deductions and reduce your taxes, related tools and articles, and
helpful Web sites. When you’re ready to file, you’ll find a link to
prepare and file your taxes online through H&R Block.
With the time and money--not to mention
headaches--you’ll save by filing your taxes online, you’ll have
plenty of extra time to decide how to spend your return, or to save
up to pay what you owe. In the end, the process will be much less
taxing, and you’ll have many happy returns.
Mark Reed hopes his tax dollars are being put to good use.
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Need help locating a tax program?
Download the free trial of TaxSaver Federal. It gives you everything you need to prepare your taxes completely and
accurately. When you're ready to file online, you can convert your trial
version to a fully functional product for only US$4.95.
In addition, the IRS Web site has lots of
information, including a list of private sector partners who
participate in the IRS e-file program and offer free and low-cost
electronic filing options.
You’ll find a list of
companies that make tax software to enable you prepare your
taxes, as well as a list of companies that offer an online filing packages,
complete with prices and Web addresses.
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