Every year, millions of taxpayers find it extremely difficult to understand how to file their tax returns. This results in numerous fees which could have been easily avoided with the right tax return processing and filing. In the United States, tax returns are reports that are specifically filed with the Internal Revenue Services (IRS), or with the state or local tax collection agency. It will typically include information such as calculated income tax or other taxes. Tax returns are typically prepared using forms that are prescribed by the IRS or other taxing authority.

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Prepare Your Documents Early

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The earlier you prepare your documents, the earlier you will be able to figure out how you are going to file your taxes correctly. While you can always consider hiring an accountant, during tax season they may be faced with numerous clients who are cramming to file their taxes on time. When you prepare early, you help avoid problems like incorrect document issues. 

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Know Different Methods of Tax Filing

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These days filing your income tax return online has completely changed. For example, tax preparation software is available for your use, so calculations are automated instead of filing by hand. You can purchase software online or may take advantage of free ones offered by the IRS (for those with income that is $62,000 and below). Nevertheless, these free tax preparation software provides valuable help especially if you want to avoid calculation mistakes. 

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Know When You Need Help

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You must prepare yourself when you will need the help of an accountant or online tax return expert. This will help you save thousands of dollars in fees or penalties. Remember, you may be saving on your tax payment according to your calculations but mistakes may cost you double or triple your actual fees. Consider an accountant for situations such as

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o    When you have made mistakes in the past filing - if you find mistakes on your last filing and is still within 3 years, a professional will be able to help you amend the mistake. 

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o    When you are recently married or divorced - Your marital status on December 31 of the current year will determine your tax status for that year's tax filing. Some people become confuse when they are married recently because they now have different options like filing jointly or separately. An accountant will help you understand the benefits and disadvantages of each. 

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o    When You started a business - one of the best ways to save time and effort is to hire an accountant if you have just started a business.

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