The internet has provided countless conveniences, one of which is the ability to prepare and file our taxes online. There are numerous applications, websites, and programs that will walk you through the steps of preparing your taxes, claiming to result in accurate returns in a highly efficient manner. While many people benefit from using tax prep software, doing so has resulted in serious tax errors and penalties for other taxpayers.
Benefits of Online Tax Preparation
Using tax preparation software can save you many resources, some of which include the following:
- Time – Many taxpayers can enter information and have their taxes filed in an hour or less.
- Stress – These programs lead you step by step through the preparation and filing process and ask you numerous questions so that you do not miss an important tax issue.
- Money – These programs can cost nothing or up to about $50, depending on the complexity of your returns.
If using tax prep software in the comfort of your own home sounds too good to be true, you should know that in some situations, it can be. While individuals with relatively straightforward taxes often experience no problems using apps or software, online tax preparation may result in costly errors under certain circumstances. If the following are true, you may want to use a tax professional instead of software:
- You or your spouse have taxable assets beyond income.
- You are self-employed or have business interests.
- You itemize your taxes.
- You have had major life changes.
- There are any other out-of-the-ordinary complexities with your taxes.
If you do receive notice of a tax penalty from the IRS because you used tax prep software, call an experienced IRS tax relief attorney as soon as possible.
Discuss Your Situation with a Skilled IRS Tax Defense Lawyer
It can be stressful to face tax penalties or claims by the IRS, no matter what caused the problem. At the law firm of Attorneys Tax Relief in Chicago, we have represented many taxpayers to the IRS and helped them find favorable resolutions to their cases. Whether you need to defend against wrongful allegations or want to find an affordable way to pay off your tax debt, call us today at 800-819-6866 for help.