According to the IRS, 20% of income tax returns prepared on paper have mistakes, and mistakes can lead to overpaying taxes. Only about 1% of electronically prepared returns have errors.
Month: January 2018
Why tax preparation cost isn’t the only consideration
You can get quotes and compare costs, but bear in mind that cost is not the only consideration. Here are some other things to think through:
Canada Efile Service Unavailability Notice
The EFILE service will stop accepting transmissions of your clients’ 2013, 2014, 2015 and 2016 initial (T1) personal income tax and benefit returns and 2015 and 2016 amended T1 returns through the ReFILE service at midnight (Local time) on Friday, January 19, 2018. Both services will re-open on Monday, February 26, 2018 at 8:30 a.m. (Eastern time) for the electronic filing of your clients 2014, 2015, 2016 and 2017 initial (T1) personal income tax and benefit returns and 2015, 2016 and 2017 amended T1 returns.
For comparison, here’s how 2018 brackets would have looked under the old tax code
