Frequently Asked Questions
Below are some of the most frequently asked questions about our tax preparation services:
Your tax return will be prepared by an experienced Laura Tax Services Income Tax professional who understands the current federal and state tax laws. All Laura Tax Services preparers must meet our high standards of knowledge, ethics and professionalism.
Yes, your return is covered by our "Complete Peace-of-Mind" ACCURACY GUARANTEE. Most importantly, we guarantee your return will be error-free, you will get every deduction you are entitled to, and you will receive your refund in the quickest time allowed by the IRS. Click Here to view the remaining guarantees.
Taxpayers can elect to have their taxes paid by authorizing an electronic funds withdrawal or by credit card through the IRS Electronic Federal Tax Payment System (EFTPS). If you e-file before April 15th, you can delay your payment by scheduling an electronic funds withdrawal from your checking or savings as late as April 15th.
You will receive a complete copy of your tax return at the time it is prepared. An additional free copy is available on our secure client portal or receive a hard copy by visiting Laura Tax Services for a $5 fee.
Most simple returns are completed in 30 minutes. More complex returns containing additional Forms or Schedules may require additional preparation time.
The first step is to gather your W-2s; 1099s; Social Security numbers for yourself, your spouse and all your dependents; and all other tax information. Bring them, along with a completed Laura Tax Services Client information sheet. Or you can send your tax information directly from our Website (call for more information) Or you can fax or mail your tax information. Once we have received your tax information, we will prepare your federal and state returns (if required) and send them to you for your review and signature. We will then electronically transmit the returns to the IRS and state tax authorities. You will receive your refund in the shortest time possible - Guaranteed.
If your refund is being directly deposited into your account (Electronic Refund Deposit), it will typically be available in 7-14 days; and for a check (Electronic Refund Check), typically from 8-15 days.
Electronic filing, known as e-filing, is the quickest, most accurate way to file your tax returns. E-filed returns have an error rate of less than 1%. If you are due a refund, you can expect to receive it within approximately 2 weeks from the date it is accepted by the IRS - less than half the time it takes when a paper return is filed.
You may benefit from itemizing your deductions on Schedule A if you:
Generally, you must decide whether to itemize deductions or to use the standard deduction. The standard deduction is a dollar amount that reduces the amount of income on which you are taxed. You should itemize deductions if your allowable itemized deductions are greater than your standard deduction. Some taxpayers must itemize deductions because they cannot use the standard deduction.
You cannot use the standard deduction if:
For more information on the difference between itemized deductions and the standard deduction, refer to the Publication 17, Your Federal Income Tax.