Taxes are an inevitable part of life, it’s a complicated process of maintaining receipts and tracking expenses all the while ensuring that you don’t miss out on any deductions. As a freelancer or a small business owner, you must have dealt with the hassle of doing the paperwork and then rushing to the post office to file your 1099 form and check.
That process becomes a lot more tiresome if your check gets lost in the bowels of the U.S. Treasury, and you have to go through it all over again.
One way to break free from this tedious process is by paying your taxes online. It’s not only simple and easy but also very quick. Everything gets processed faster.
Pay taxes online, or e-filing as it is called, has many benefits for taxpayers such as-
Quick Acknowledgement
The acknowledgment of your tax return is quick. The IRS does not send out any notifications when it receives paper returns. Moreover, refunds, if any, are processed faster than paper-filed returns simply because it saves you a trip to the Post Office and the mailing time.
Accuracy
Filing taxes via EFTPS ensures accuracy. Paper filings are prone to errors. Also, when any paper-based forms are uploaded to the electronic system, there is often a possibility of human error in data entry.
Convenience
The E-filing facility is available 24/7 and you can file your taxes any time, anywhere at your convenience. You can start filing, and save what you’ve already done and return to it at a later time. You also have the option to file now, pay later - decide what day to debit your bank account for tax payment, among other convenience features.
Safe & Secure
Online filing ensures more security than paper filings since your data is not accessible to anyone either by design or by chance. With paper filings, your bank statements and details can fall in the wrong hands.
Accessibility
With with online platform, you can easily access past data while filing returns. Most e-filing applications store your past data in a secure vault and allow for straightforward access at the time of filing tax returns.
Prompt Updates
The tax code is ever-changing, so if you file your taxes online, you automatically get an update about the list of forms before the due date of e-filing.
Plus, you immediately receive a confirmation of filing, both at the time of filing and subsequently, via email on your registered email id.
Filing your taxes online isn’t just simple but also very convenient.
Another benefit of e-filing taxes is that tax filing programs, like FlyFin, are built to maximize your savings. The app is powered by A.I. that works around the clock and looks for deductions and tax breaks that apply to your profession and filing status.
Many people learn that they qualify for additional deductions by using FlyFin which not only saves them money on their tax returns but also finds opportunities to boost your tax refund. Plus, you can file your taxes directly through FlyFin or export the tax summary for IRS form in excel format if you wish to share it with your CPA.
