As any good tax preparer will tell you, it’s never too early to think about tax season and to start gathering up those important tax documents.
And if you’re still filing a paper return, there’s no better time to ditch the manual form and do it electronically.
Here is the rundown on why eFiling is the best choice for anyone filing an income tax return.
Get Your Refund Faster
If you’re one of the 62 million tax filers who got a refund last year, you probably wanted to pocket that money sooner rather than later.
By filing an electronic tax form, a refund can be directly deposited into your bank account. The IRS estimates a refund could post in your account in half the time it takes a paper check to land in your mailbox.
An advantage to eFiling is fewer mistakes. Errors on a tax return could prove costly in penalties, fines and increase the likelihood of an audit.
Many tax filing software reduces the number of mistakes by doing the math and plugging in the numbers in the correct box. Most programs guide taxpayers through a series of questions.
Tax preparation services like E File 360 will file your tax return forms for you.
It’s Easier and More Convenient
Forgoing the paper tax return and filing it online gives taxpayers the convenience of eFiling from their home computers. For those who hire a tax return preparation service, most preparers file the forms electronically for the same reasons.
Also, eFiling is an easier process. Once the return is filed electronically, you get a notice saying the government has received and accepted it. You can also check the status of your refund.
Sending a paper return in the mail, along with personal tax documents, takes longer. And there’s always the chance it could get lost in the mail.
EFiling Saves Money
Electronic tax filers can save money on commercial tax software or tax preparation services by eFiling for free through the IRS. The IRS Free File program makes filing a federal return less taxing by providing free fillable forms.
If you’re wondering how to eFile your return, the IRS lists the ways taxpayers can do that.
Keep Better Financial Records
Knowing how to file tax returns can be complicated, but electronic tax filers benefit from having all their important tax records all saved in one place on their computers.
This makes keeping your tax, and financial records for the IRS recommended 3 to 7 years a lot easier.
Make Tax Season Less Stressful by EFiling
If you’re looking to save time and money during an already stressful tax season, consider eFiling your income tax return online.
The U.S., Internal Revenue Service, encourages millions of American taxpayers to e-file because it’s safe, secure, and taxpayers often get their refunds in half the time as those who still mail in the paper form.
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