What you need to know about tax-prep software

first_imgby: Kay BellAre you prepared to spend more than a full day filling out your tax return? That’s the IRS’ estimate of how long it will take the average taxpayer to complete Form 1040.Sure, that includes the time it takes to pull together and sort through all your necessary tax receipts and records, learn about the Form 1040, decipher its instructions, copy the completed form and send it in. But even discounting these ancillary duties, the IRS figures it still will take around four hours just to fill out this most popular income tax return.And if you have additional schedules or tax credits to file, you might be measuring your tax time by the calendar instead of the clock.Don’t want to spend that much time with your 1040? Then tax-preparation software may be the answer. These packages promise to save you time and money by putting tax law and the forms you need at your fingertips. And some tax-prep devotees contend they can even save your sanity during tax season.If you decide this year to join the millions who do taxes on a computer instead of paper, here are some ways to make the process go more smoothly. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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