tax tips april 2012

Tax Tips For Last-Minute Filers Include Filing Electronically, Double-Checking Records

As the April 17th filing deadline rapidly approaches, searches on the internet for tax tips are increasing in proportion to the number of people who are scrambling to ensure their tax preparations are in order.

Tax tips abound on the web as the filing deadline draws nearer, but now that most taxpayers can file electronically online, the looming date is not nearly as threatening. And if you go the route of an expensive income tax preparers like H&R Block, there are even discounts available for Johnny-come-latelys through sites like Offers.com.

In a press release, the CEO of that site, Steve Schaffer, confirms discounts for H&R Block of as much as 45%, and says that even just over last year, web tax tips and the proliferation of filing services have caused a large shift in the number of taxpayers opting to file electronically:

“Since January, Offers.com has seen 40 percent growth in orders of online tax preparation products compared to this time last year. We’re definitely seeing people filing later via the Internet, and with our exclusive H&R Block offer we fully expect orders to increase even more as we approach Tax Day on April 17.”

However, tax preparers remind those filing late (or filing at all) to keep expenses claimed in check to avoid audits. While all taxpayers are allowed leeway to claim business expenses, frequent or ostentations entries will raise red flags.

Senior technical manager at the American Institute of CPAs Abe Schneier tells USA Today:

“You have to be reasonable. There’s no hard and fast rule but if you make a habit of doing that kind of entertainment, ordering $100 bottles of wine, it will generate questions.”

Have you found any tax tips online that have taken the fear out of filing online without the assistance of a CPA or tax preparer?

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