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SHOULD YOU E-FILE YOUR TAXES?

SHOULD YOU E-FILE YOUR TAXES?

SHOULD YOU E-FILE YOUR TAXES?

Like it or not, it is just about that time again: Tax time. Although you have until April 15 to file your return, filing early will get it off of your to-do list, and if you’re due for a refund, the IRS reports that of those who e-file their returns, nine out of 10 receive their refunds within 30 days.

If you’re still one of the few taxpayers who files paper returns, consider these reasons to switch to electronic filing:

  • Filing electronically often means a faster refund. By avoiding mail delays and common filing errors, you save time. Get your refund even faster by combining an electronic return with direct deposit of your refund.
  • IRS e-file is safe and secure and can help you avoid common mistakes. The IRS uses modern encryption technology to protect your sensitive personal information. The agency is also working to help protect taxpayers from refund fraud.
  • The IRS doesn’t have to re-enter your information into its system. This method results in fewer data-entry errors.
  • You can use multiple options to e-file. Tax preparation software is available commercially, and you can consult a tax expert for help.
  • You receive an acknowledgment that the IRS received your return. The IRS doesn’t send an acknowledgment when it receives paper returns.
  • If you owe the IRS, you can ask the IRS to electronically withdraw the money you owe directly from your bank account. You can decide when the IRS withdraws the money –up to the last minute on the filing deadline, even if you filed your return earlier.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional. Click here for free advice from the IRS about e-filing

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