E-filing has been around for a while now, but the IRS still gives taxpayers the option of paper filing. There are a few good reasons to e-file, and the IRS is encouraging people to go this route. Here’s why.
- It’s more accurate. The tax software used to e-file does the math for you, so there’s a smaller chance of mistakes. This year’s software also includes step-by-step help with the new health care law tax provisions.
- It’s convenient. There are several ways to e-file. You can purchase commercial tax software like TurboTax, you can ask your tax preparer to e-file for you, or you can use IRS Free File. You may also qualify to have your taxes filed through the IRS Volunteer Income Tax Assistance or Tax Counseling for the Elderly programs.
- It’s safer than paper filing. Mail can get lost or intercepted. The IRS e-file system meets strict security guidelines, and uses secure encryption technology to protect your tax return. And it has a good track record: The IRS has safely and securely processed more than 1.3 billion e-filed tax returns from individuals since the program began.
- You’ll get your refund faster. Because there’s no mail delay and your return is more likely to be free of mistakes, it’s processed more quickly. The fastest way to get your refund is to combine e-file with direct deposit into your bank account.
- You have payment flexibility. If you want to get your tax tasks done early but don’t want the money you owe to be taken from your account right away, you can set up an automatic payment on any day until the April 15th due date. You can pay electronically from your bank account, by check, money order, debit or credit card.
If you have questions about e-filing, feel free to give me a call at (864) 836-3136.