subject: Get All Your Help And Support Through Tax Filing Software [print this page] Why Why
Many individuals consider the task of completing a US tax return to be quite complex and time intensive due to the quantity of laws and forms required. That is why more than half of the US taxpayers choose to seek professional help when it's time to complete and file a tax return. It is believed by the government that it will take most people more than 10 hours to manually do a tax return.
That is why there is tax preparation software for both the individual taxpayer as well as professional taxpayers. The software will make the preparation of a tax filing a lot quicker. It also decreases the chances that there will be a mistake in the return. That is why software is becoming extremely important in the tax industry.
What
Many people use tax preparation software to help file taxes on their own or their client. The software asks the user to input the numbers for various tax forms. After that, the software does all the work to carry out the right calculations and to place the right numbers on the actual tax forms.
Even though it is possible for software to print paper tax returns, most of the people will choose to have the software file the tax return electronically to ensure that the IRS has received the tax return properly as well as on time. It also saves on postage. Finally, filing electronically with direct deposit in the tax software will be the quickest way for a taxpayer to acquire a refund.
Consumer Software
The way in which consumer tax preparation software works quite differently compared to professional tax programs created for experts. The professional software is designed to make it quicker for the tax preparer to input the data. On the other hand, consumer tax software will guide taxpayers with a wizard that explains in plain English what needs to be entered.
Oftentimes, the consumer software will also explain what is the rationale behind certain tax laws and certain tax deductions. This will help the consumer come up with the right number for the tax return. There is also a heavy focus on help screens and detailed explanation when the taxpayer requires it in order to complete the return.
Tax Preparer
The way that professional tax preparation software works is very different from the consumer version. Both permit the user to type in information, and both allow for electronic filing. However, the professional version was created so the tax preparer can input the data efficiently and quickly. There is much less of an emphasis explaining what's going on. There won't be yes / no prompts in the software. It is all about quick input of the actual numbers.
Professional tax software makers know that it is crucial for preparers to input the maximum number of returns each hour, especially through the busy tax season. More returns means more revenue for that tax preparer and it helps the user get their refund anticipation loan even faster.
