Using spreadsheet-based tax return preparation software

Article Abstract:

Tax preparers could not enjoy the benefits of spreadsheet-based tax return preparation software packages in the past because of the lack of a graphical user interface in Lotus 1-2-3. The recent introduction of Lotus 1-2-3 versions 2.3 and 3.1 in the what-you-see-is-what-you-get or WYSIWYG format now makes it possible for practitioners to use the spreadsheet environment for tax returns. Among the advantages that spreadsheet-based tax return preparation computer programs offer are flexibility and ease of use. Such a program also allows tax preparers to link existing spreadsheet papers to a tax return without any incovenience. A tax package that integrates more than 250 separate tax forms are also now available from ATX Forms Inc.

Software, Financial software

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Electronic filing reshapes the tax return preparation industry

Article Abstract:

The IRS's decision to expand electronic tax return filing across the nation will increase accuracy and produce faster refunds. The advantages of electronic filing include: decreasing the time required for processing refund anticipation loans; providing electronic acknowledgment of filing returns; and reducing the error rate from over 20% with paper returns to about three percent with electronic deposits. Tax preparers can incur a high initial fixed cost and low variable costs by transmitting tax returns directly to the IRS, or they can reduce their initial investment by using a third-party transmitter.

Tax administration and procedure, Tax administration

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