The days when you had to file your tax returns by hand are long gone. However, some U.S. citizens are still taking that antiquated route to returns. And they’re losing out on money – money they have the right to receive by law.
When you file for your returns on paper, unless you’re a financial professional who knows the ins and outs of filing, you’re probably not getting all the money you deserve. The IRS is constantly updating its list about what’s tax deductible and what isn’t. The amendments and additions to the list are virtually impossible to keep up with, but now, thanks to technology, return4refund you don’t have to. Online tools and computer software make it incredibly easy for anyone to maximize their returns in a legal, supervised way.
Tax Software Keeps Track of What’s Deductible, and More!
In addition to keeping track of what’s deductible and what’s not, these ingenious software systems also keep track of which obscure bracket you fall under. This is incredibly useful because, as you file for returns and add more to your list, your bracket changes. For instance, say you are to receive $500 in earned income tax credit after you’re initial breakdown. But you forgot to add something – a $250 language course that you purchased on your own for personal business purposes. Because you’re using it for business purposes, the language course is deductible.
So you backtrack through some steps in your return software until you get to the business/education section. After including your language course, instead of your return spiking $30 or $40, it spikes $200 – almost the full amount of the language course itself. Although instances like this are rare, they do happen. Why? Because, as you enter more tax deductible items, your credit builds; and, as your credit builds, that complicated bracket system implemented by the federal government also undergoes change. And this change often translates to more money for you.
Even More Benefits of Tax Return Technology
So far, you’ve learned that tax software keeps track of what’s deductible and what bracket you fall under. But it does more, too, because the whole purpose of filing technology is to streamline the return process. Software companies recognize this and it’s why they thrive. Many forms of return software don’t just offer one answer to a question – they offer a whole solution.
In addition to keeping track of deductibles and filing statuses, tax software also:
takes you through the whole return filing process, start to finish
makes the process easy by asking easy questions, often in the yes-or-no form.
adapts to your unique returns and specific financial status
gets you the earned income tax credit you deserve, down to the penny
files your return for you electronically
Thanks to modern technology, tax gurus and software engineers, after filing your return with tax software, you won’t question if you filed for everything you were legally entitled to.