- Category: Individual Taxes
- Written by Wendy Levenfeld
- Hits: 2327
In 2010, 72.3% of individuals submitting income tax forms to the Internal Revenue Service (IRS) did so electronically. I don’t know about you but that number shocks me. Are there that many people that much more secure in their computer knowledge than I?
Maybe, if you are like me, it is time to force ourselves, though kicking and screaming, to enter the 21st century by getting on the IRS e-filing bandwagon. Why, you might ask? Well, there is no software to purchase. The sites have up-to-date IRS tax laws. Most boast that you can file in less than 20 minutes (Hah, I Say!) and your tax refund (should you be so lucky not to owe) is safe and secure.
Last year, officials said about 49 million people still prefer to make the yearly trip to the post office to mail off their paper tax returns. But the IRS has been trying to encourage you to file electronically. Here are three big benefits of e-filing:
Easier to Prepare -- Some of those paper tax forms can be confusing, but software tools made especially for filing your taxes will walk you through the process, step-by-step. Have all your tax information at hand and it should be rather simple. Just remember to buy NEW software each year so you are sure to have all the new tax laws incorporated. If you simply use the online services of the more reputable preparers, you can count on them having the most up-to-date regulations at hand.
Get Your Money More Quickly -- When you use a paper return, it has to be processed, sometimes by hand. That can take a few days upon receipt to complete. But when you e-file, you can get your money in as little as 10 days.
It May Be Free -- If you make less than $57,000 a year, you can use the IRS' Free File program to prepare your taxes at no cost.
Convinced yet? If so or if not; check out these sites for a comparison of what they have to offer to make your required annual IRS filing easier:
H&R BLOCK (1800-472-5625)
TURBO TAX (1-800-613-4406)