In the United States of America, millions of people are worried about how they’re going to pay their taxes. If you have an exciting Myfsapay Program Pilot in the USA, then you’re in luck! In the coming weeks, there will be special offers for both businesses and individuals who need to make tax payments, so stay tuned to learn more. This Myfsapay program pilot in the USA could be just what you need to get your taxes done on time!
What is a digital tax assistant?
The digital tax assistant, an IRS-sanctioned online tool that guides you through your tax return and enters relevant data. It’s typically accessible between January 1 and mid-October. If you opt for one of these services, expect to pay around $50 to $100 per return. As long as you use one of these tools, keep track of all receipts because if you don’t itemize expenses or receive tax credits or deductions that increase what you pay, you may owe additional taxes when filing your return electronically. The bottom line: Using one of these tools ensures accuracy and makes calculating how much money you owe simpler.
If you don’t use one of these services and you get audited, you may be subject to penalties. In most cases, that means a $5,000 fine or as much as 25 percent of your owed taxes, whichever is higher. If you used one of these services to prepare or file your return but didn’t include all required information or failed to report all taxable income, penalties are significantly steeper. You could end up owing 100 percent of what’s owed in addition to interest and fees, which can quickly add up if you underpaid by several thousand dollars per year.
The benefits of using an eFiling provider
For those who are still filing manually, e-filing is a more efficient option that gets you through tax season faster. Instead of inputting data by hand and mailing out physical forms, you’ll have instant access to your tax return online at any time of day. And if you’re expecting a big refund, e-filing can save you both time and money—the IRS says taxpayers using e-file will receive their refunds about 14 days faster than those filing paper returns. The state of Pennsylvania offers free e-filing for those who make less than $51,000 per year (for married couples), and charges $1 per return if income is greater than that amount.
How do you use MyfSafePay as an eFiling provider?
An introduction to how you can use MyfSafePay as an eFiling provider. Discuss features and benefits of being an eFiling partner. Benefits include: faster refunds, secured service , flexible payment options and more. How do I enroll?: This is where you’ll walk through how easy it is to enroll in our program. You’ll discuss what documents are required, what forms we need from your clients, and answer common questions like What if my client doesn’t have a W-9? or Do I need to be a CPA?.
FAQs about the new option
What if I have already filed my return? Am I required to use Myfsapay for next year? The program is voluntary. In addition, we will continue to provide our existing services and partners to ensure that all U.S. taxpayers can prepare and file their tax returns electronically regardless of their preferred method of payment. We encourage you to try out the new option, but you’re not required to do so. If you choose not to participate, we will still be here when you are ready to prepare and file your return online using our current service offerings.
