Tax Return Preparation: The Basics – Intuit Inc. (INTU), H&R Block, Inc. (HRB)

Tip 4: Double-check everything.
Too often, simple mistakes get through the tax return preparation process, delaying your refund and necessitating a formal response from the IRS. If you use an accountant, mistakes usually won’t be on your shoulders, and tax-preparation software does internal math checks to correct simple errors. But if you’re doing your taxes by hand, taking a few extra minutes to double-check your numbers can save you from a lot of troubles down the road.

Tip 5: Decide how to file.
Once you have returns done, you have one more decision to make: how to file your prepared return. E-filing is fast and easy, and although some preparers charge you for electronic filing, the extra speed with which you get refunds on e-filed returns might be worth the cost. Moreover, some free e-filing options exist. Nevertheless, if you feel more comfortable with paper returns, just remember that you’ll bear the cost of postage, and you might suffer a longer delay before you get your refund.

Get your taxes done!
Tax return preparation is scary for many people, but it shouldn’t be. By following these simple steps, you can be on the path to getting your taxes done long before April 15 rolls around.

The article Tax Return Preparation: The Basics originally appeared on Fool.com and is written by Dan Caplinger.

Fool contributor Dan Caplinger has no position in any stocks mentioned. You can follow him on Twitter @DanCaplinger. The Motley Fool recommends Intuit. The Motley Fool owns shares of Intuit.

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