Do you want a tool that will help you expedite the tedious process of entering the basic information of your tax return? While in the process of preparation, we have to input personal information, such as our social security numbers, into the platform that we are using to prepare our tax returns. The OCR, a tool that we use in our Taxmania platform for the transfer of information, can help you speed up the preparation of your tax return.
What is OCR and How Does it Work?
OCR, or Optical Character Recognition, is a technology that collects information from a document or image and prepares it to be edited, transferred, or converted into an electronic format.
With OCR technology, the process of filling in the boxes with the taxpayer's personal information is simple. The OCR reads the forms you upload and automatically places the information in its place, speeding up your tax return preparation process.
What are the Steps to Follow?
- You log into your Taxmania account.
- Once you are inside the platform, select the + Create Tax Return button.
- After creating the tax return document that you are going to file, you have the option of uploading the PDFs of the forms that apply to you for that taxable year period. The program is only working with some select forms, so it is important to validate that your form is available to be read with the OCR.
- When you're ready to upload the PDF, it should look like this:
Now with the integrated PDF, you are ready to continue with the process of preparing your tax return.
Which Forms Can the OCR Currently Read?
At the moment, the OCR can read and process the information from some forms to help you expedite the process of filing your tax return. These are:
- 480.7A (Mortgage interest)
Always Double Check the Text
We recently integrated OCR in Taxmania, meaning that it is currently in a transition period. You must verify and validate that the information it adds is correct. If not, you have the ability to rectify the information.
Do you Have Any Additional Questions?
For questions about the process of preparing and filing your tax return, visit our Information Center or request help from our Technical Support Team, through the Help area within your Taxmania account, and we will assist you as soon as possible. Save time and file your tax return with Taxmania today.