Electronic reporting via tax software is a simple, prompt, and reliable way of submitting accounting and tax reporting. In this article, more about it.
Tax software: what is it?
The development of a market economy is accompanied by a constant increase in the volume of financial and economic information that public financial institutions must accumulate, process, and analyze. Tax authorities are no exception. If yesterday we had to stand in exhausting queues at the tax or pension fund to file reports, today the software does it for us in just 5 minutes. And today it is available to everyone.
Automation of tax accounting is a useful procedure that allows representatives of the large, medium, and small businesses to save money and time on preparing documentation. The use of timely file submission methods ensures prompt communication with the tax authorities.
Free tax reporting programs allow individual entrepreneurs and legal entities to avoid penalties from the regulatory authorities. Modern services help in filling out, checking, and submitting documentation.
Advantages of using tax software
There are the following benefits of electronic reporting via tax software:
- Saving time: no need to visit the tax office, no need to stand in queues at the tax office when submitting reports;
- Simplicity and comfort: you can submit a report sitting in the office, the entire sending cycle is simplified as much as possible – the process of encryption, signing, and sending reports is started by pressing one button and takes no more than a minute;
- Confirmation of delivery of reports: after sending the report, the letter passes through the servers of telecom operators, where it is authorized and checked for the integrity of the original report. If the check is positive, the service operator puts a “timestamp” on the encrypted report, which is the time of reporting.
- Confirmation of delivery of the report: the tax inspector sends an electronic confirmation of the delivery of the report (incoming control protocol).
- Independence from strict time frames: reports can be sent before 24:00 hours of the last day of submission of reports. Electronic reporting works 24 hours a day, 7 days a week!
- Confidentiality and protection: all reports are encrypted and stored on the servers of the system, which protects reports from loss. How to connect? You can contact the regional tax office at the place of registration or service operators.
Reporting received by the tax service using paperless technology has legal force, and the taxpayer who submitted documents in electronic form is considered to have submitted the reporting and is exempt from duplicating it on paper. All information transmitted to the tax authorities is transmitted in a secure and encrypted form and signed with an electronic digital signature.
Tax software alternatives
There are the following commonly-used options:
- Ava Tax
- Intuit TurboTax
- Jackson Hewitt
- Clarus R + D
Services are designed for the prompt formation and sending of all kinds of documentation to government agencies. Programs for the formation and preparation of reports to the tax office work with an Internet connection and provide wide opportunities to optimize your work at all stages of electronic reporting.
They allow you to compose and test documents to avoid slips and mistakes in declarations. Sending information to the e-mail of the fiscal authority takes a few minutes. The user can monitor the status of the submitted documentation, receive answers from the authorities.