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Benefits to Efile taxes when online tax filing for 2022

Posted by admin on January 7, 2023
Last modified: February 13, 2023

Efiling your taxes has become increasingly popular in recent years. The majority of taxpayers now file their tax returns electronically, and it’s no wonder why. Filing electronically is quick, easy, and processed faster than mailing your return. Plus, the IRS recommends Efiling as the best way to file your taxes. Here’s a breakdown of the benefits of Efiling your taxes

In today’s digital world, electronic tax filing is expected to be an alternative to older, manual processes. Businesses can now do more than paper-based, laborious, time-consuming tax preparation or software-based filing with PriorTax. Online tax filing via Efile has brought greater flexibility in filing taxes and is much more convenient as one taxes can now be filed at one’s convenience, home or work.

PriorTax Assigned Tax Service Professionals 

You do not need to use expensive tax-prep software to file taxes electronically. Even if you are not fiscally competent and not in a straightforward situation, you can fill out tax forms with one of our assigned tax professionals step by step on the spot. Online tax filing with PriorTax will identify tax forms and documents you will need to start the filing process with confidence.

Audit Protection with PriorTax

PriorTax can even provide an audit defense during the filing process should your tax return be selected for audit by the IRS.

efile taxes

Benefit 1. Filing Taxes Online or Efile tax is simply the easiest way

Taxes don’t have to be a pain. In the past, you had to make an appointment with your accounting office and wait around while they did the math. But now, you can file online from anywhere. All you need is an internet connection. You can even do it from your phone! With web-based tax programs, there’s no need to go to a physical office. And with locally downloaded programs, you can take your taxes with you wherever you go.

Filing your taxes online is quick, easy, and convenient. With step-by-step instructions, you can be confident that you’re completing everything correctly and won’t face any penalties for inaccuracy. You can even start filing, save your progress, and come back to it later. Online filing is simply more convenient.

Benefit 2. Efiling your tax gets your Tax Return through Direct Deposit

Choosing to file electronically and get your tax refund through direct deposit is the fastest way to get the money as soon as the IRS begins processing returns. Because Efiling reduces processing time, individuals and businesses receive their refunds faster (e.g., within three weeks of Efiling). In addition, you are more likely to get a refund more quickly if you file your return electronically instead of by mail, simply because doing so saves a trip to the post office and time spent in the mail. 

Benefit 3. Efile taxes for faster processing

There are many advantages to filing your taxes electronically. One of the biggest advantages is that you will receive confirmation almost immediately that IRS has received your tax return. Additionally, processing your refund will likely be faster since electronic filing means that IRS does not need to sort or transcribe your tax return at their service center. Everything related to your tax return will be processed faster when you file online. You won’t have to read confusing instructions for each form or try to figure out which number goes in which box. Instead, electronic filing asks simple and intuitive questions, clarifies where inputting information is required, and automatically fills out all necessary forms.

There’s no need to write your name a million times when you file with an electronically signed return. Instead, simply draw your signature on your device’s trackpad, copy and paste it when indicated, and submit your return. The information is sent directly to the IRS immediately, eliminating the wait for postal delivery, IRS mail room sorting, and eventual approval.

Efiling your taxes means receiving any refunds you are owed much faster. Direct deposit is automatically wired to your bank account once the IRS processes your information, rather than waiting for a physical check to come in the mail. This way, you don’t have to rely on the postal service for timely delivery. It usually takes 1-3 weeks to get your refund after you file your taxes electronically and request a direct deposit. But it can vary based on how you filed, what credits you claimed, and how you want to receive your refund. You can learn more about when to expect your refund here.

Benefit 4. Simple and secure electronic records of tax forms

Keeping records of your taxes for up to seven years is a best practice. After that, there is a risk of identity theft when old tax records are disposed of improperly. On the other hand, the stack of past taxes will grow larger each year and take up more space. Efile taxes provides a solution by storing years of history securely online without taking up physical space. This makes information easy to retrieve when needed.

Benefit 5. Accuracy of filing taxes online

Taxes can be confusing, but accuracy is key. Incomplete or incorrect information given to the IRS can result in big penalties – even jail time. PriorTax takes care of everything for you so you can feel confident that your taxes are done right.

Efile your taxes early.

Someone who files early on their taxes will be already in the system, either processing their return or receiving a refund. If you discover that you owe the IRS money, filing early gives you extra time to get back on the road to paying the tax. 

People who file early stand a better chance of discovering errors and fixing them before the deadline, which could result in larger tax refunds. People who tend to wait until later to file taxes are more likely to make mistakes, like missing out on valuable credits and deductions. 

If you filed in mid-January, you would only owe taxes due after filing. The good news is that if you submit your taxes early but then you make an error, you will have extra time to fix it and still be on track for your required filing deadline. For these reasons, if you are not in a state of mind where you can file your taxes properly early, opting for the Tax Extension is a good idea that will buy you some additional time.

Free Tax Filing

Posted by admin on February 28, 2022
Last modified: February 28, 2022

PriorTax Free Online Tax Filing and Free Tax Calculator

As preparations begin for the IRS to start accepting our 2021 tax returns and the 2022 tax season gets underway, we’re here to help you navigate your options to find the best free tax filing and online tax filing options for your needs at PriorTax

Why is online tax filing a good option?

The IRS has already put out advice that they encourage all taxpayers and tax professionals to opt for online tax filing this year because of staffing issues. They warn that paper tax returns could take several additional weeks to process. This is additional weeks beyond the estimated 3-week turnaround they quote as typical for getting tax refunds to American taxpayers opting for online tax filing with E-File.

Opt for free online tax filing with E-File as the faster, easier, and more accurate option. You’ll be able to benefit from built-in accuracy checks, faster acknowledgments of receipt (in near real-time), and faster processing times of your tax returns.

free tax filing 2021
free tax filing 2021

I owe the IRS money for my 2021 taxes. Why is online tax filing a good option for me too?

Doesn’t online tax filing just mean that the money will disappear from my account faster?

Whether you owe the IRS money or the IRS owes you money, all taxpayers can benefit from the addition of accuracy checks and more timely acknowledgment of receipt for their returns. 

If you have a tax bill this year and owe the IRS money, you can take advantage of EFW. Electronic Funds Withdrawal (EFW) is for when using an online tax filing option with E-File. EFW allows scheduling the withdrawal of funds from your bank account. As a result, you can schedule your payments for any future date up to the tax return deadline.

Want to know if you’re due a tax refund when you file your taxes this year?

On the PriorTax.com website, you can take advantage of our comprehensive and free tax calculator. And see what’s in store for you this tax season. Visit today to use our free tax calculator to calculate your tax bill or the refund you can expect from the IRS this year.

In addition to our free tax calculator for the 2021 tax year, we offer a full suite of free tax calculators. Our Free tax calculator includes prior year taxes. You can find a free tax calculator for each prior tax year going back to 2011.

Take advantage of our prior year free tax calculators before online tax filing in 2022, and you won’t be going into the online tax filing process blind this year.

Where can I get reliable information about free tax filing options for the 2022 tax season?

If you need to file your taxes this year, the IRS website is an excellent place to start. On their website, they maintain pages on IRS Free File where you can find free tax filing options to prepare and then file your federal taxes for free. For simpler filing process is done more easily and streamlined with PriorTax for maximum tax return with the best customer service.

For taxpayers with an Adjusted Gross Income (AGI) of $73,000 or less, the IRS offers a range of Free File Online Offers in conjunction with external providers.

This free online tax filing option allows taxpayers to prepare their 2021 federal tax returns with commercial tax preparation companies for free. These are guided preparation tools where you answer questions about your income and financial situation in 2021, and your tax return will be prepared for you. You can visit the IRS website to use their IRS Free File Online Lookup Tool and find the free tax filing offer for your needs.

Depending on the IRS Free File Program you choose, you may be able to receive free state tax returns too. Each offer is a bit different, so it’s essential to review the offers of each provider and determine and verify your eligibility. You will also need to create an account after accessing your chosen tax preparation provider from the IRS. Accounts made when visiting their website directly are separate from the IRS Free File program. So, to take advantage of these offers, you will need to access your chosen tax preparation provider via the IRS. The filing process can be easier and more streamlined filed with PriorTax for maximum tax return.

And for taxpayers with any AGI, the IRS offers Free File Fillable Forms.

This online tax filing option involves electronic forms that you can fill out and file yourself by making an account with the IRS. However, it lacks the guidance of the commercial tax preparation company offers mentioned above. So, you’ll need to be prepared to follow the IRS instructions, publications, and forms for yourself and, in some cases, make your own calculations to complete the free electronic forms offered.

In addition to these two resources, two IRS programs offer free assistance and e-filing for qualifying taxpayers: the Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly (TCE) programs. These programs are offered in local communities across the country. You can visit the IRS website to use their VITA/TCE Locator Tool and to learn more information.

How can I find good online tax filing options with support beyond the IRS’s Free File Program?

The information above should poise you to take advantage of your free online tax filing options this year. Unfortunately, these resources cannot cover all scenarios. However, there are online tax filing options for the rest of us too!

If your financial situation is more complicated than can be served to your liking with the free providers, you’ll need to branch out to paid options for tax filing. Just make sure to do your due diligence. Check that you are working with a registered tax preparer. You can use the IRS’s Directory of Federal Tax Preparers to find well-qualified tax return preparers in your area, including enrolled agents, certified public accounts, and tax lawyers with unlimited representation rights to represent you before the IRS when needed.

Consider taking advantage of the peace of mind offered by the seasoned tax professionals and CPAs behind our easy-to-use online tax filing services. Visit PriorTax.com to begin your 2021 tax return today. You’ll have the support of our free phone, email, and live chat throughout the process. And for our clients with more complex returns, the option to add a Professional Review or CPA Review for less than working with an in-person tax preparation company from the comfort of your own home or office.