Filing a tax return is the tedious job that many of us don’t really want to do it ourselves , so we hire accountants or take help from one . The computer and the internet have made the annual preparation of income taxes so much easier, including the advent of tax preparation services. I can remember working up to the last minute, reading every possible allowable deduction on the appropriate form, figuring what was owed and checking for mathematical correctness before signing the form and rushing to the post office. The best system ever for preparing taxes was the old telephone computer system where you were walked through the filing process step by step. It was quick, efficient and filed your income tax that day. This system no longer exists .
If you are of a particular income level you may qualify for free income tax preparation . First, the IRS and the government haven’t a direct involvement with the computerized determination of your tax or of its’ filing. They have outsourced this most private of all relationships outside of one’s doctor, minister or spouse. The government has you take a test or survey as to whether you meet their criteria for free tax preparation service. This involves giving them your age, residence, estimated gross income, marital status and so on into your very personal life. When and if you qualify for the free service they let you select an outsourced service that you know absolutely nothing about. One of the only things that keep complete terror at abeyance is that the IRS has scrupulously evaluated their credentials and has certified them as an acting agent before the IRS. I guess this means if the outsourced service screws you up that the IRS squashes them and you at the same time! Small comfort, however you can contact your Taxpayer Advocate if any issues or problems arise.
. All of these services whether free or paid submit the income tax returns in batch daily to the IRS. This means that you will have to wait approximately 4-7 days for verification of your return’s accuracy and filing. If you desire to have your refund deposited to your bank you must give both the routing and account number to your respective bank. I didn’t feel like giving that information and elected to have the state and federal governments mail my refunds. This was a delay of only two weeks which was great. The old system could take at least several months under the best circumstances.
If you want to have your taxes prepared by one of the regularly advertised agencies be prepared by bring all your pertinent tax records. It might be advantageous to make an appointment and inquire into their requirements. They in turn will prepare your taxes, file them and for an additional fee had you your return on the spot. They will be using the same system that cared for me however slightly faster.