Tax season is a difficult time for many Americans. According to a Zogby Interactive Survey, nearly three-quarters of U.S. adults say that filing their tax return is “stressful” or “very stressful.” The number of tax myths that abound may be a key contributor to this stress.
One of the most persistent myths claims that you’ll never get a substantial tax return without an accountant. These finance professionals can certainly help you prepare and file your tax returns, but if your budget’s tight, finding money for their fees can add unnecessary stress. However, there’s an easy and affordable alternative. You might not realize that more than 27 million taxpayers now prepare and file their own tax returns online—and that figure is growing with each year.
Online tax preparation services guide you through the process step by step, from calculating your eligible deductions to filing your tax forms. Filing basic returns is generally free, leaving you with more money in your bank account, and you can save a copy of your tax return for your own reference. Online tax preparation services also feature smartphone apps, so you can choose whether to work on your tax return from your personal computer or from your iPhone 6s Plus on the T-Mobile network. Using your own network connection rather than public wireless Internet will help you keep your sensitive data safe, and the iPhone’s large Retina Display will make it easy to see your tax forms.
So don’t believe those persistent rumors, because many tax time myths simply aren’t true. Familiarize yourself with the facts below, and you might find that tax season is easier and less stressful than you ever thought possible.
Here’s a resource to help you out; this infographic sorts fact from fiction to help ease your concerns at tax time. Please let me know what you think: