How To Choose A Great Online Tax Preparer

When people look for online tax preparers, they need to consider various factors. Choosing the right tax software option is vital to maximizing a tax refund after all. Therefore, individuals must focus and search for their best tax preparation solution. Each person is going to require something slightly different from their online tax prep service.

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Safety Concerns

TurboTax 2013 from last year provided ample safety measures. Unfortunately, not all preparation services take safety seriously enough. The last thing a person wants to do is lose their personal information. Others have become victims of identity theft and lost their returns. The best tax prep options implement strict safety protocols today.

Tax refund theft continues to grow at an alarming pace. More taxpayers find themselves victims each tax filing year. While tax prep companies try to combat this fraud, cases will slip through the cracks. By choosing the safest option, taxpayers can minimize their risk of becoming a victim.

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Photo by JeepersMedia

Convenience

These days, people tend to prize convenience and efficiency over other factors. It’s important to check out a tax service’s extra features. Turbo Tax 2013 was prized for its variety of useful features. Typically, such features aren’t core to the tax filing experience. They do, however, provide certain taxpayers with extra tools that can be used for various purposes.

In the end, consumers must consider price and a handful of other factors, too. TurboTax is often considered the best tax preparation software available today. Anecdotal and usage figures seem to support the validity of this idea. Still, each taxpayer needs to find the tax preparation service that’s right for themselves.

H&R Block Backs Voluntary Tax Certification Program

H&R Block Inc. has taken the forefront to elevate industry standards in tax preparation by supporting a new voluntary certification program initiated by the Internal Revenue Service.

Tax preparers who voluntarily enroll in continuing education courses covering basic tax filings, tax updates, ethic of tax preparation and other related issues will now receive a record of completion noting their efforts. The purpose of the IRS program is to help taxpayers find qualified individuals to prepare tax returns and to help them avoid unethical practices. A study indicating that 42 million Americans have used a tax preparer with no credentials and who operates under no state regulations or minimum standards is the impetus for this program. That figure represents about 54 percent of all returns prepared by someone other than the tax filer.

In a letter supporting the program, H&R Block CEO Bill Cobb encourage the United States government to continue promoting voluntary certification actions, indicating that his company believes the U.S Congress should set standards for professional tax preparers. Until Congress passes such legislation, however, Cobb believes a voluntary certification program is essential to protect the concerns of consumers. Such a program should also include components of the Registered Tax Return Preparer Program that the IRS previously implemented, including registration, competency measures, screenings and continuing education.

Cobb has previously commented that on an appeals court ruling that the IRS cannot regulate tax preparer, indicting that the ruling hurt honest taxpayers who are entitled to basic protections.

Kansas City-based H&R Block is one of few companies that requires minimum standards from its staff. All company tax preparers must have at least 75 hours of tax law and tax return courses in the first year of employment with 15 hours of continuing education for each subsequent year. Also required is 35 hours of system, policies and procedural training.

Jackson Hewitt’s Tax Advice For Recent College Graduates

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Jackson Hewitt’s Tax Advice For Recent College Graduates

Jackson Hewitt operates around the country and offers various tax services for taxpayers. With that in mind, millions of people file their state and federal income returns annually. This company helps many of those very individuals on a regular basis while competing with TurboTax 2013. Recently, Jackson Hewitt released its biggest tax tips for college graduates. Recent graduates often make some big mistakes on their returns that are more than avoidable.

Jackson Hewitt Tax Service
Jackson Hewitt Tax Service (Photo credit: kenteegardin)

For instance, most students can deduct their student loan interest on their return. Only interest paid from a qualifying loan counts, though, and the maximum deduction is $2,500. Most college students are claimed as dependents as they attend school. However, a graduate should claim themselves independent afterwards to maximize their tax benefits. Someone that is considered independent for tax purposes can claim many more deductions than someone considered a dependent.

Jackson Hewitt reminds recent graduates of other tax issues, too. Thousands of students receive scholarships, which are sometimes taxable, depending upon the circumstances. Typically, funds paid directly to a student are completely taxable. On the other hand, graduates starting a new job should check out their withholding. Higher income means more taxes must be paid during the year. Nobody wants to find that they owe money to the government.

Filing taxes during college is often different than doing so after graduation. Of course, most graduates see some big changes in the coming years. There is no reason a person should fail to take advantage of the tax advice that’s available. The right information can save someone thousands of dollars in taxes per year. Plus, most people don’t understand the tax system very well, and this advice always helps.

Millions of people will use Jackson Hewitt or TurboTax 2013 to file their taxes this year. Unfortunately, the deadline is fast approaching, and late filing can cost a person greatly. It’s important to take a look at one’s tax situation and take available deductions or breaks. Too many people fail to do so and pay the costs, especially college graduates. In the end, taxes come every year, and there are plenty of ways to minimize the burden.

Tax Carnival Ecstasy – October 23, 2012

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Welcome to the October 23, 2012 edition of Tax Carnival Ecstasy. In this edition we start with Anisha from the NerdWallet who takes a look at oil companies and the taxes they pay. Bill Smith reviews H&R Block‘s small business tax software. Anna Deguzman looks over the Fiscal Cliff and how the two presidential candidates will handle the crisis. Finally we have four easy ways to save money on your taxes that you can implement before the year ends. Hope you get a chance to read all the posts here, bookmark for later, share on the social networks like Twitter and Facebook and follow the carnival in the future.

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Bill Smith presents File Your Taxes posted at 2010Taxes, saying, “When it comes to online tax filing security is the major issue. Many people may like the concept or many might look down, most of them may feel worried about putting their information all on the internet and doubt that is it actually safe and secure to submit your tax return this way.”

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Bill Smith presents Gay Marriage Increases Federal Tax Headaches posted at 2008 Taxes, saying, “The advent of a new era in our nation’s history brings with it more than gay marriage acceptance; we are witnessing the dawn of a new era of federal tax headaches.”

Bill Smith
presents 2010 Tax Credits For Your Home posted at 2010 Tax, saying, “For those of you thinking of buying a new home but are not sure about the 2010 tax credits, maybe this will help you.”

[email protected]
presents Should oil companies pay higher taxes? Prof. Ho explains the economics of optimal taxation posted at NerdWallet, saying, “Should oil companies pay higher taxes? Prof. Ho teaches the economics of optimal taxes for the purpose of reducing the federal deficit.”

Bill Smith presents Tips to Get TurboTax Discounts posted at 2009 Tax, saying, “Turbotax software comes in various different versions like Premier, Deluxe, etc. Turbo tax software is used to prepare both State & Federal Income Tax Returns.”

Bill Smith
presents How to get online tax refunds with H&R Block? posted at 2008 Taxes, saying, “Nowadays there are many tax filing programs available online, but even today most of the people think twice while filing their income tax returns using these online programs.”

Bill Smith
presents H&R Block- Small Business Tax Software Review posted at 2009 Taxes, saying, “H&R Block is one of the best tax preparation software used worldwide. Today more than 500 million clients mainly in Australia, the U.S., and Canada use H&R block.”

[email protected] Obama vs. Romney vs. The Fiscal Cliff posted at NerdWallet Blog – Credit Card Watch, saying, “What change will the impending “fiscal cliff” bring? The nerds weigh in on the issue and the roles the presidential candidates could play.”

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Bill Smith presents FreeTaxUSA- Prepare your Taxes Yourself posted at 2011 Taxes, saying, “There are several tax preparation programs available online. Let’s begin with a very simple and a detailed review.”

John Schmoll presents 4 Simple Ways to Save Money on Taxes Before Year End posted at Frugal Rules, saying, “Tax season is quickly approaching us. Don’t fall behind and wait til the last minute to prepare for it. There are numerous things you can do now to help save you money and give less to Uncle Sam.”
That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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Tax Refunds with H&R Block

How to get online tax refunds with H&R Block?

Nowadays there are many tax filing programs available online, but even today most of the people think twice while filing their income tax returns using these online programs.  Many taxpayers still does not trust these online tax programs and prefer doing it themselves or seek help from experts to file their returns.

TurboTax and H&R Block are 2 of the best known services that offer free online tax filing programs to the public. Both the programs offer a step by step way for completing the tax form and allow filing of the complete income tax return online. Both the programs are user-friendly and all the instructions are easy to understand. The programs even do the mathematical part for you, ensuring that you file a mathematically correct return.

H&R Block has software that can be downloaded to help you prepare your taxes on your own and getting the tax refunds back faster along with the satisfaction that you did it by yourself. For tax filing all that you need is to fill in the required information data with a step by step guide and the program automatically computes prints and files the tax return. The program also has an automatic checker which checks the form for any mistakes before the sending it off. This is really great as there is nothing bad than getting a notice for any mistakes on the taxes from IRS, making delay in the tax refunds.

If you are self employed, an investor or even a homeowner you can file the refunds to. If will only cost you to download and file the return though, but the return forms will have all the required information and assistance you need to file the return yourself and thus, save your time from having to go to the location.

Dealing with IRS Tax Debt

Dealing with tax debt is different from how you handle your other debts. But you need not worry since it can be managed given the right amount of patience as well as the willingness on your part to lower down your debts.

For starters, getting debt help is highly recommendable especially for those who do not know where and how to start eliminating their outstanding balances with their creditors. Seeking for professional assistance is a very sensible thing to do because you will have to think of it as an investment in order for you to live a comfortable and financially secured life in the future.

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Managing tax debt on your own – If you do not want to spend money to pay for debt relief services, you may opt to control your tax debts on your own. You can do this by requesting copies of your tax returns and double checking it for any discrepancies. From there, you can choose which option you can take.

Get professional help to deal with your tax debts – People with low tax debts can get away without the assistance from financial counselors, however for those who happen to owe thousands of dollars, get expert help from debt relief companies. Here are several things that you can check and counter-check in order for you to ensure that the company can truly extend their services to you:

Amount being charged or rate of services – There are several companies that can give you a quotation for the whole duration that you are going to require their services, while there are some companies that charge by the hour. Whichever way you prefer, bear in mind a budget and stick to it so that you will not have any added troubles.

Their credibility as a company – While there are many companies out there, you still need to check the legitimacy of the agency that you are going to tap. Professionals who are dealing with tax debts need to be certified public accountants, tax attorney, or an enrolled agent.

Several of the debt strategies that they can suggest to you, apart from double checking your tax return documents, include the following: installment agreement, filing for bankruptcy, offer in compromise, and partial payment.

You see, dealing with tax debt is not an entirely complicated process. Given the right time and strategy, you will be able to control your balances and slowly pay them all off.