Tax Time: Advantages Of E-File
As time progresses we have created more efficient ways of doing business and even doing our taxes. You can do it the old fashioned way – file out the paperwork and do all of the math yourself. Or you can buy a computer program – which will compute everything for you and leaving you the task of mailing off the information. Or you can file online – which means you don’t have to do anything but fill in the blanks.
E-filing for your taxes has many advantaged and several reasons why it can be the easiest route:
- Fast. No more last minute trips to the Post Office – with e-file, just hit Send
- Accurate. e-file checks for errors and necessary information, increasing the accuracy of your return and reducing the need for correspondence with the IRS to clarify errors or omissions.
- Easy. e-file leads you step-by-step. You can usually file a state tax return at the same time you electronically file your federal return.
- Quicker Refunds. Generally, when you use e-file, your refund will be issued in about half the time it would take if you filed a paper return. Those who choose Direct Deposit will get their refund in even less time.
- Peace of mind. With e-file, once the return is accepted for processing, the taxpayer is notified electronically, acknowledging the IRS received the return.
- Payment options. With e-file, you can file your return early but wait to pay any balance due by the April deadline. You can also pay electronically, using a credit card, electronic funds withdrawal or, in some cases, the Electronic Federal Tax Payment System.
The IRS is offering eligible taxpayers the opportunity to electronically prepare and file their tax returns for free through Free File, a program offered in partnership between the IRS and private-sector software companies. For information on taxpayer eligibility, access the Free File Web page at IRS.gov.For more information on e-file, check the IRS Web site at www.irs.gov/efile.