Best Way to File Your Own Taxes
Which of these 5 options is the Best Way to File Your Own Taxes?
You may be wondering, what is the best way for filing your taxes? We’ll show you several options and the one we recommend for you to consider. Basically, these are the 5 options: Mail, online tax filing site, e-file using IRS fillable forms, a tax app, and a tax professional. If you’re not sure which one to use, keep reading to find out what is best for you.
File your taxes online at an online tax filing website
When it comes to taxes, the best online tax filing will be one that is the easiest and most convenient way to file your tax return. There are many sites offering this service, and it may appear confusing because of the advertising of FREE tax filing and the convoluted pricing scenarios. We decided to make this choice a lot easier by offering flat rate pricing.
How to file taxes online for the first time
We organized EZ Online Taxes and now offer $25 flat rate fee. No matter if you have a simple return or a very complicated one, the fee is the same. This low fee includes e-filing of your federal return, state return as well as electronic filing. Beware of a lot of the online tax filing sites that offer FREE tax filing. It’s hard to qualify first of all, and if you do, they charge you extra for filing the state taxes…it varies from $29.95 to $49.95.
If your return has a couple of extra schedules like a Schedule C or a Schedule E, your cost to file would be in the range of $90 to $170. It doesn’t take a genius to see why EZ Online Taxes is our first choice and why doing taxes yourself for the first time with us is a stress free event.
What do i need to file my taxes 2022
The first step before you file, is gathering your documents. This will include tax forms and other necessary documents, such as a W-2 and 1099 forms for interest and dividends. The best way to keep all your tax documentation organized and accessible is to keep them in one location. We advise our clients to get a large folder and put all information pertaining to taxes throughout the year. Keeping everything in one location will save you time and make the process go more smoothly when tax time arrives.
There are many benefits of using tax software when filing your taxes online. For example, our tax software can pull information from previous year tax returns, allowing the software to calculate any deductions or carry-overs from the previous year. It can even import tax documents like a W-2 and automatically place them on the tax return. Once you’ve entered all the data, you can easily file your taxes online. Unlike filing by hand, online tax filing is faster and more secure. With the help of the right software, like ours, you can get a refund in less time than ever.
Is filing your taxes by mail a good option?
Another option for filing your taxes is by mail. If you’re filing on paper, the IRS will need to manually enter the information or transfer it via a physical mail service. You should be aware that mailing a hard copy to the IRS and your resident state is not secure, and it takes much longer to process. It’s called “snail mail” for a good reason. This is not the best way to file your own taxes.
If you mail in your tax return, IRS employees have to scan it into their system and with their continuing staffing issues, it may take some time to get it processed. The Postal Service recommends that you confirm your tax information before sending taxes by mail.
The mailing address for the IRS varies depending on where you live. You can find the mailing address for your state and type of return by visiting the IRS Where to File page. There are also different mailing addresses for returns with and without payments.
While the IRS will receive payments, returns without payments will go to the Department of the Treasury. If you have multiple returns to file, mail them in separate envelopes. When mailing returns by mail, always remember to use certified or return receipt mail. You can also hand deliver them to a Taxpayer Assistance Center and ask for a date stamp of receipt.
Before we go any further, let me emphatically say that we do not recommend filing a tax return by mail! This is definitely not the best way to file your own taxes.
File your taxes online using a tax app
While there are several ways to file your taxes online, an app is often the easiest and most convenient choice for some people. These services are designed to make filing as simple as possible. In most cases, you’ll simply need to input data and upload documents. However, in some cases, they may take a long time to process, especially if you’re dealing with a more complicated tax situation. You might also find it easier to file your taxes online using a PC, since most tax-filing software apps require a secure WiFi. Some people will tell you this is the best way to file your own taxes, but personally, I find a phone app too cumbersome and slow.
File your taxes using IRS fillable tax forms
Another option available is using the IRS fillable forms online with their free filing. This option is not recommended for anyone who doesn’t have a good grasp of filing your own taxes. There is no guidance when using this option, and you’re pretty much have to rely on the IRS. Remember also, you can’t file your state return at this site. The federal return is free and e-filed, but you may have to pay extra to get the state return filed. This is really not the best way to file your own taxes.
File your tax return online using a tax professional
This last option may be okay for anyone who has a real fear of doing their own taxes, but it can be expensive, and sometimes…very expensive. This may be your best choice, too, if the return is on the complex side. Some examples are: If you have a sideline business, a rental property, or some other tax forms that you don’t understand… then you may need professional advice.
Just be sure you choose a professional wisely. If a friend advises you to see his brother-in-law down the street, who is doing taxes on his kitchen table, think twice. Find someone who is using an experienced tax professional and ask for a recommendation, then check his/her credentials. The IRS has been trying to weed out these part time preparers for years and is having a hard time because of Congress.
We recommend using EZ Online Taxes
Unless you have a very complex return, or have a panic attack when you think of taxes, then using the EZ Online Taxes filing site is the best way to file your own taxes. Filing taxes electronically is not only much more secure, but is faster, easier, and more convenient. E-filing your taxes helps you get a refund faster and reduces the chances of errors.
Our unique software will ask you a few questions for the information necessary to prepare your return. It will then check the return for accuracy, create schedules, and transmit it to the IRS and your resident state. There are many advantages if you can do your taxes yourself online, including error-reducing automatic calculators, faster refund processing, and direct deposit options. All of this for only $25.
How to file taxes for free
Be careful too with the sites that advertise free filing. Usually, many taxpayers don’t qualify because of the restrictions, plus they charge you extra for filing your state return. Quite often, the cost to file the state return is higher that our low $25 fee to file your federal and state returns.
By e-filing, you can also access your history from three years ago. This allows you to make future financial planning easier, as you will have your filing history at your fingertips. Currently, there are many desktop software programs that allow you to e-file your return, but beware of those with their confusing and expensive pricing tiers. At EZ Online Taxes, there’s only a low flat fee of $25 to file your federal and state returns, and e-filing for both.
We designed this program to help you, not to confuse you. One low fee for any type of personal return…simple or complex. Check it out and see why so many of our clients say we have the best way to file your own taxes.