Electronically filing, or e-filing, is a safer, faster and simpler way of submitting your tax return to the IRS. The IRS still accepts paper forms, but they are able to e-filed tax returns much faster. Taxpayers can easily file taxes using the IRS’ e-file. Here are some of the reasons why e-filing your tax return is a better way to file:
There is danger of a paper return getting postponed or lost in the mail. IRS’ e-file is safe and secure, as it uses sophisticated encryption and has strict security guidelines. To date, the IRS has processed more than 1.2 billion e-filed tax returns. More and more taxpayers are now using e-file to file their return.
2. Faster Processing and Refunds
With e-filing, the IRS receives returns instantly. 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 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. They may transfer the taxes owed electronically from their bank account, pay by check, through debt or credit card, or 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. 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 to prepare and file tax returns for free.