E File Taxes Online, eFile Tax Return

Since e-filing taxes sprouted just a few years ago, filling taxes has been made so much simpler and less intimidated for taxpayers who utilize this option. My hat is off to whoever thought of it and off again to whoever developed it—thank you!

Besides simplifying tax filing and removing the intimidation factor, e-filing has been proven time and time again to be much more accurate. As a matter of fact, the Internal Revenue Services (IRS) has been reporting a less than one percent error rate on returns which are e-filed. That is phenomenal especially when considering that over seventy million tax returns have been e-filed in 2006 and the number of e-filed tax returns is expected to grow considerable this tax season for 2007.

E-filing provides fast tax refunds as well as the security of direct deposit into your bank account in just ten days instead of the usual six to eight weeks for mailed-in tax returns. If you wish to get your full refund amount in twenty-four to forty-eight hours, refund anticipation loans are available.

Conversely, if you owe additional taxes, you can still e-file them as early in the season as you wish and use the delay payment option up until the due date. For added convenience, you can also authorize an electronic withdrawal of funds from your savings or checking accounts or you can use the credit card of your choice.

You need never worry about your tax returns getting lost or delayed in the mail when you e-file because this is the only method of tax filing that gives you an official receipt. Furthermore, you save money on postage and the inconvenience of fighting the crowds that appeared at the post office for the same reason as you have—to mail their tax returns.

There have been strong forces that attempt to enlist all of us to move closer or join the Green Movement or any number of other environmental movements which have been established to, among other issues, protect trees. E-filing uses no paper that is produced from trees therefore, it is environmentally correct.

The e-filing system has been programmed such that it is capable of combining all the relevant information that you have entered and files the federal and the state tax returns simultaneously. You will not need to repeat, reenter, or duplicate any information.

The following is a quick tutorial on how e-file works:

1. You start your return by answering easy-to-understand questions and enter your tax data as prompted. Please note that if you e-filed the previous year, you can import it at any time. Additionally, you will have access to online guidance and customer support, all the necessary forms and you can always take a break and return at a later time.
2. E-filing your tax return involves reviewing your entries, selecting your desired refund or payment option, and then e-filing your return with IRS. You will also have an automatic error, accuracy and omissions checking available to you.
3. If you used the “Continue” button when advancing from one page to the next, your last page will be the End of Interview Questions. You need to click the “Continue” button on that last page and it will lead you through the final few steps to file your returns.
4. You are done.

In conclusion, e-file taxes is the quickest, most convenient, most accurate, most secure, most environmentally correct method for filing your tax returns, and is available to individuals, sole proprietorships, partnerships, all types of corporations, estates, trusts and nonprofit organizations. Why everyone does not e-file is a mystery to me.

Posted in Tax Preparation & Software