Pros & Cons of E-filing Income Tax Returns

Pros & Cons of E-filing Income Tax Returns thumbnail
E-filing income tax returns makes the process of paying taxes easier.

Decades ago, you had to sit at the table and fill out numerous pages of information and use your calculator to file income taxes for the year. Now with the Internet, you can e-file taxes which makes the process easier.

  1. Advantages

    • According to Monster.com, a major advantage of filing taxes online is that it saves money. The cost of hiring a CPA can range from $50 to $200 while tax preparation software can cost between $30 and $80. Another benefit is that because you can save your online tax returns, e-filing helps you keep records of your taxes.

    Disadvantages

    • One disadvantage of e-filing tax returns is that with some tax software programs, you may be charged an additional fee for this service along with some other hidden fees. This is why you should carefully read the box of the program you want to purchase so you can be aware of all charges.

    Considerations

    • If you need extra assistance filing your taxes online, H&R Block has a few articles on their website which give detailed information on various subjects such as taxes and disaster relief, small businesses and taxes, tax credits for children and record keeping.

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  • Photo Credit TAX TIME image by brelsbil from Fotolia.com

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