Haven’t filed your taxes yet? If you’re not sure whether you should e-file or submit them the old-fashioned way, there are several reasons you should e-file them, according to one expert.
Electronically filing, or e-filing, is a safer, faster and simpler way of submitting your tax return to the IRS, says Jonathan Bochese, a senior tax attorney at the Tax Defense Network. “The IRS still accepts paper forms, but they are able to process e-filed tax returns much faster,” Bochese, a licensed tax professional, says. Taxpayers can easily file taxes using the IRS’ e-file. Here are some of the reasons according to Bochese why e-filing your tax return is a better way to file:
1. Safety
There is danger of a paper return getting postponed or lost in the mail, Bochese says. IRS’ e-file is safe and secure, as it uses sophisticated encryption and has strict security guidelines. More and more taxpayers are now using e-file to file their return - to date, the IRS has processed more than 1.2 billion e-filed tax returns.
There is danger of a paper return getting postponed or lost in the mail, Bochese says. IRS’ e-file is safe and secure, as it uses sophisticated encryption and has strict security guidelines. More and more taxpayers are now using e-file to file their return - to date, the IRS has processed more than 1.2 billion e-filed tax returns.
2. Faster processing and refunds
With e-filing, the IRS receives returns instantly, Bochese notes. The day after taxpayers file their return, they can check the status of their refund using the “Where’s My Refund?” service on IRS.gov. Taxpayers can expect their refund to reach them within 21 days after e-filing their tax return. Taxpayers who combine e-file with the direct deposit of the refund into their bank account will receive their refund the quickest.
With e-filing, the IRS receives returns instantly, Bochese notes. The day after taxpayers file their return, they can check the status of their refund using the “Where’s My Refund?” service on IRS.gov. Taxpayers can expect their refund to reach them within 21 days after e-filing their tax return. Taxpayers who combine e-file with the direct deposit of the refund into their bank account will receive their refund the quickest.
3. Tax debt payment options
Taxpayers who owe the government taxes can e-file their return early and set an automatic payment date any time before the closing of the tax season, Bochese says. They may transfer the payment electronically from their bank account or pay by check, through debt or credit card, or by money order.
Taxpayers who owe the government taxes can e-file their return early and set an automatic payment date any time before the closing of the tax season, Bochese says. They may transfer the payment electronically from their bank account or pay by check, through debt or credit card, or by money order.
4. Free filing
The IRS Free File is the free tax preparation program that allows taxpayers to file tax returns at no cost, according to Bochese. The IRS also offers tax help to those who cannot afford to hire tax help. Low-income individuals and families and the elderly can use the IRS’ Volunteer Income Tax Assistance and Tax Counseling for the Elderly, where IRS volunteers will help prepare and file tax returns for free, Bochese says.
The IRS Free File is the free tax preparation program that allows taxpayers to file tax returns at no cost, according to Bochese. The IRS also offers tax help to those who cannot afford to hire tax help. Low-income individuals and families and the elderly can use the IRS’ Volunteer Income Tax Assistance and Tax Counseling for the Elderly, where IRS volunteers will help prepare and file tax returns for free, Bochese says.
The Tax Defense Network provides financial advice and tax resolution services around the country. The Tax Defense Network’s team of licensed tax professionals, enrolled agents, and CPAs has resolved more than $120 million in tax debt. TheTax Defense Network is A+ rated by the Better Business Bureau. Learn more about the Tax Defense Network on Twitter or Google+.
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