A less taxing alternative: e-filing software can help keep you ahead of the IRS. (Tech Options).If you usually slide through the post office door right before it swings shut on April 15, you're not alone. Each year, just before midnight, millions of last-minute filers cram into mail centers to beat Uncle Sam's tax deadline. "When it comes to something like taxes, we put them on the back burner Noun 1. back burner - reduced priority; "dozens of cases were put on the back burner" precedence, precedency, priority - status established in order of importance or urgency; "... . We know we have to deal with them eventually, but if it's not the crisis of the hour, we put it off," says Sandra E. Cox. executive director of the Coalition of Mental Health Professionals Inc. in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and a member of the Association of Black Psychologists (ABPsi). But times are changing. With the federal government's push to have 80% of tax returns Fried online by 2007, now is a good time for last-minute filers to reap the benefits of procrastination. Toni Radcliffe, a district manager for H&R Block says electronic filing is better because the return "gets there faster It's checked for mistakes, such as math errors and Social Security number or name mismatches, and it goes back to you immediately to be fixed if there are mistakes." Anthony King For the psephologist, see Anthony King (professor) Anthony King (born June 6, 1975, in Myrtle Beach, South Carolina, U.S.A.) is an American writer, director, and comedian based in New York City. , CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. , of the 45-year-old firm King, King & Associates P.A. in Baltimore adds, "If you do have a refund coming, it speeds up the process from six to eight weeks to four or five days." But he notes that there's no reason to file electronically if you owe taxes. Thanks to software, you won't have to play beat the clock or stand in long lines--unless you really want to. To help you meet the deadline gracefully grace·ful adj. Showing grace of movement, form, or proportion: "Capoeira is a graceful ballet of power and control, artists kicking and jumping in synchronized movement" Alisa Valdes. , we've evaluated three tax preparation software packages and collected a few helpful tips. AUTOMATE IT The three popular tax preparation software packages we evaluated guide you through the filing process, remind you of possible deductions, and explain complicated items. If you're unsure about which information to include, you needn't be; these programs have electronic help buttons and provide assistance in the form of text or videos. Tax preparation software allows you to file electronically from home without going through a third-party service that charges a fee. In addition, the IBS IBS Irritable bowel syndrome, see there has signed an agreement with Free File Alliance L.L.C. that will allow up to 78 million taxpayers to electronically file their tax returns for free since January 2003. Tax software companies will provide the service, and the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. will provide links to them through www.irs.gov (where you can also download tax forms) and www.first \gov.gov. Each of the programs reviewed (TaxCut Platinum 2002, TurboTax Premier 2002, and TaxAct 2002 Deluxe de·luxe also de luxe adj. Particularly elegant and luxurious; sumptuous: deluxe accommodations; a de luxe automobile. adv. ) permits at least one free federal e-filing. TAXCUT PLATINUM 2002 H&R BLOCK WWW.HRBLOCK.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. TaxCut offers a step-by-step Next button format. The program features tabs that let you move freely between federal and state tax forms, information on the filing process, and tips on preparing next year's taxes. You can also answer questions and return to them later without losing information. The planning area helps you estimate 2003 taxes, prepare for life changes, and optimize your retirement plan; it even offers a free investment plan. Interview assistants help you deal with capital gains, business expenses, rental property, depreciation, and stock options. You can also look nine years ahead to see the effect of tax law changes that were made in 2001. Special features * Configurable auto-save option and password protection * Can import financial information from Microsoft Money Microsoft Money is Microsoft's personal finance software for computers using the Microsoft Windows operating system. A version is also available for Windows Mobile (available for Money versions 2000-2006, and up to, but not including Windows Mobile 5.0). , Quicken A popular financial management program for PCs and Macs from Intuit, Inc., Mountain View, CA (www.intuit.com). It is used to write checks, organize investments and produce a variety of reports for personal finance and small business. , and other programs that support Tax Exchange Format (TXF TXF The X Files TXF Transactional File System TXF Transactional Ntfs TXF Tax Exchange Format ) files * Can load last year's return created in TaxCut or TurboTax * Up to five e-filings * Shoebox shoe·box n. 1. An oblong box, usually made of cardboard, for holding a pair of shoes. 2. Something resembling or suggestive of such a box, as a plain, rectangular building or a cramped room or dwelling. Noun 1. dialog box A movable window that is displayed on screen in response to the user selecting a menu option. It provides the current status and available options for a particular feature in the program. lets you choose a type of document then tells you where to place it in your return Pricing * TaxCut Platinum for Windows: $29.95 after $10 rebate rebate, partial refund of the total price paid for goods or services. In the United States, rebates were historically given by railroads to favored shippers as a return on transportation charges. * Federal e-filing: One free federal e-filing with mail-in rebate, then $14.95 * TaxCut State: One free state income tax program with mail-in rebate, then $24.95 each * State e-filing: $9.95 * Ask-A-Tax-Advisor by phone or email: one free with rebate, then $19.95 per topic TURBOTAX PREMIER 2002 INTUIT in·tu·it tr.v. in·tu·it·ed, in·tu·it·ing, in·tu·its Usage Problem To know intuitively. [Back-formation from intuition. INC WWW.TURBOTAX.COM TurboTax Premier 2002 has an EasyStep interview that walks you through the filing process. The program features guide words at the top of the screen that take you to a detailed drill-down menu of topics. TurboTax Premier comes with Internet Explorer Microsoft's Web browser, which comes with Windows starting with Windows 98. Commonly called "IE," versions for Mac and Unix are also available. Internet Explorer is the most widely used Web browser on the market. It has also been the browser engine in AOL's Internet access software. 5.5 and Media Player 6.4 and offers video instructions at various steps. If you don't enjoy friendly video coaching, you can stick to the text help. You can also open the video library and choose topics independent of the Q&A process. If you use the EasyStep interview, Turbo Tax takes you to a Future Taxes section after you file this year's return. TurboTax doesn't automatically save your changes as TaxCut does, but it does give you the option. Intuit allows you to prepare tax returns from any computer using a trial version. But it will only allow TurboTax Premier to print or electronically file from the computer it was originally installed on. Special features * Can load last year's information from TurboTax or TaxCut * Can import financial information from Quicken, QuickBooks, and other programs that support Tax Exchange Format (TXF) files * Can import data from dozens of financial partners such as A.G. Edwards and W-2 eXpress * Up to five e-filings * Video instructions aren't necessary, but are a nice addition. Includes electronic copy of Money magazine's Income Tax Handbook Pricing * Federal software: $49.95 after mail-in rebate * Federal e-filing: one free after mail-in rebate, then $14.95 * State software: one free after mail-in rebate, and $29.95 for others * State e-filing: $8.95 * Advice by phone: $19.95 for 10 minutes (can be in multiple calls within 10 days) TAXACT 2002 DELUXE 2ND STORY SOFTWARE WWW.TAXACT.COM TaxAct has a unique appearance, with seven large icons arranged in a circle (but numbered in order). As with the other programs, you can skip around. But you can also use Continue buttons within each topic to cover everything from start to finish. As you enter data for the questions asked, the answers sometimes appear on a mock tax form. You can choose to go through the program in the forms view. Many IRS forms are included. The Life Events button allows you to go directly to topics such as a birth, job change, marriage, inheritance, lottery winnings, or lawsuit. You can jump to a summary of your return at any time during the process. And you can select whether to automatically save the information. Special features * Can import last year's TaxAct return * Links to Keen.com advice service, where customer can choose among advisors with prices listed * Up to five e-filings * TaxWatch feature tells you where your federal tax dollars are spent and makes planning for next year as important as completing this year's taxes. It even prints a new W-4 to prevent over-or under-withholding Pricing * Federal Software price: $9.95 * Federal e-filing: One free, up to four additional at $7.95 each * State software price: $12.95 * State e-filing: $7.95. TaxACT 2002 Deluxe and TaxACT 2002 State with bonus free federal e-file: $19.95 Last-Minute Whether you use pen and paper, software, or a professional tax preparer, remember you can get help at the IRS hotline at 800829-1040. Be sure to write down the name and employee number of the person with whom you spoke. You'll need this information in case you don't understand the answer or don't think it's correct. You can follow up on your refund at the around-the-clock, self-service tax refund Tax refund Money back from the government when too much tax has been paid or withheld from a salary. hotline at 800-829-1954. |
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