Tax help > Dramatic Increase in Electronic Tax Filing Continues as 2005 Tax Deadline Approaches

Dramatic Increase in Electronic Tax Filing Continues as 2005 Tax Deadline Approaches

Electronic tax filing continues to show a strong increase this year.
The Internal Revenue Service expects, for the first time ever, to have over half of all individual tax returns electronically filed.
According to industry experts, the convenience and accuracy of electronic tax filing accounts for its marked growth.
Along with the continued growth of online tax preparation and filing, comes a continual increase in the Free File program.
The IRS strongly encourages tax filers, who have not yet filed their taxes this year, to look into their electronic filing options and learn if they qualify for the Free File program.The IRS reported that through the end of March, 49 million tax returns were electronically filed.

This is a 7 percent increase over last year's numbers.
Through March 18, the number of e-filed tax returns was up nearly 3 million over last year.
The biggest increase in electronic filing is in home computer use.
According to the IRS, the group of taxpayers who use a home computer to self-prepare their tax returns is up by nearly 15 percent this year.
With the April 15th tax deadline rapidly approaching, the IRS encourages taxpayers to check out their electronic tax filing options.

With online filing, tax returns are submitted directly to the IRS?no paper forms are necessary.
Online tax filing therefore eliminates human error; in fact, less than 1 percent of e-filed tax returns contain errors, compared with up to 20 percent for printed IRS forms.
This reduces the chance filers' returns will take longer to process, and enables taxpayers to sustain on-time tax filing status and still file their taxes online just before the April 15th tax deadline.
Also important to the growing trend toward online tax filing, is the short time it takes online tax filers to receive their tax refunds.
Online tax filers receive their refunds up to 50 percent faster than those filing paper tax returns.

All these facts account for the strong movement away from paper tax filing to online tax preparation and filing.Industry experts have noted that new tax preparation products are committed to using technology that makes electronic tax filing safer and easier.
Tax filers who have not yet filed their taxes should check out the selection of online tax products found at IRS.com, a site that provides access to new improved online tax preparation programs and online software.
Since 1999, IRS.com has consistently provided access to the leading online tax programs, software and more.
Taxpayers looking for detailed information about how to file taxes electronically should visit an e-file resource page, IRS.com/efile/taxes.htm. The increasing electronic filing rates parallel a continued increase in the use of Free File.

To date, more tax filers have used Free File this year than for all of last tax season.
As of March 16, the number of tax returns that have gone through Free File are up by 44 percent compared to the same time last tax season.
As of March 16th, 3.55 million tax returns have gone through Free File.
FreeFile.com is a noteworthy Free File resource providing several Free File and electronic tax filing options.
The record-breaking year for Free File reflects the wider increase in the overall online tax filing trend.

Tax filers who have not yet filed their taxes, should rest easy considering their electronic tax filing options.
Tax filers who will file in the next 2 weeks, or before the April 15th tax deadline, will still gain all the benefits of online tax filing..

Tax Fraud Attorneys

Tax fraud is a white collar crime involving offenses like tax evasion, non filing of tax returns, non declaration of income and assets, misrepresentation of conditions for exemption, forgery, and any other crimes related to the payment of taxes. Tax fraud attorneys are lawyers who fight criminal cases on behalf of those charged with tax fraud.

Tax fraud attorneys, unlike attorneys handling income or business tax, are employed only after a person or organization has been charged with tax fraud. They don't generally advise on tax planning or filing of returns, but are hired after a person suspects he may be under investigation, or when authorities start a tax audit.

A skillful tax fraud attorney will negotiate with the authorities on behalf of his client and draw attention to mitigating circumstances.

Navigating between tax planning and tax fraud is risky for a person without proper knowledge of tax laws. For example, many tax frauds...

Tax Fraud Attorneys

Tax help > Tax Fraud Attorneys

New Tax Rules for the November 2006 CFP Certification Examination

(ContentDesk) June 22, 2006 -- President Bush signed the Tax Increase and Prevention and Reconciliation Act on May 17, 2006 just in time to meet the CFP Board of Standards six month cut off for the November 2006 CFP? Certification Examination. As a result, candidates taking the November exam will need to know the changes to the Kiddie Tax rules and the increases in the Alternative Minimum Tax (AMT) exemption amounts.Congress created the Kiddie Tax rules many years ago to prevent high-income taxpayers from shifting income to their children who are in lower tax brackets. Under the Kiddie Tax rules, any child under the age of 18 will pay taxes on any unearned income (e.g. capital gains, dividends, interest and rental income) above $1,700 in 2006 at the parents marginal tax bracket rather than the childs marginal tax bracket. Prior to the law change, the Kiddie Tax rules only applied to children under the age of 14.

However, children under the age of 18 are now subject to these...

New Tax Rules for the November 2006 CFP Certification Examination

Tax help > New Tax Rules for the November 2006 CFP Certification Examination

Taxhead.com Proves again that it's Tax Software and EFile Service is Fast and Easy

(ContentDesk) October 31, 2005 -- Based upon actual results, half (49%) of Taxhead.com customers completed their tax return in less than 30 minutes. Three-quarters (76%) of customers were able to complete and efile their taxes in under 60 minutes.Data is based on an analysis of tax year 2004 customers who completed entering their tax information in a single sitting (84% of customers), and whose tax returns were accepted by the IRS on their first attempt (about 90% of customers). For more information please go to - http://www.Taxhead.com?page=speedFor comparison purposes, the IRS reports that the average completion time for tax form 1040 is over 13 hours, and over 10 hours for form 1040A. Online tax preparation together with e-file has proven itself to be a more accurate, less time-consuming method for preparing and filing income tax returns. IRS statistics show that in 2003, over 54 million tax returns were filed electronically (e-File) versus mailed paper forms.

In 2004, for...

Taxhead.com Proves again that it's Tax Software and EFile Service is Fast and Easy

Tax help > Taxhead.com Proves again that it's Tax Software and EFile Service is Fast and Easy

Millions Expected to File for a Tax Extension in 2005

Nearly nine million tax filers are expected to file for tax extensions this year, according to the IRS, and this group will find it easy to extend their filing deadline?they will not need an explanation, or any paper forms.
Automatic four-month tax extensions are available online.
Filing for a tax extension online allows taxpayers to request an automatic four-month tax extension minutes before their extension request is due, or the normal filing deadline of April 15th.
Taxpayers who file for tax extensions online also get an acknowledgment that the IRS has received their request.Taxpayers requesting an online extension may choose to pay an estimate of the taxes they owe, and they can make this payment electronically.
Filing an Millions Expected to File for a Tax Extension in 2005
Tax help > Millions Expected to File for a Tax Extension in 2005