Thursday, August 1, 2013

Why E-File Your Taxes Rather than the Old Fashioned Paper File?


The IRS definitely prefers to receive tax returns in e-file format because it is much easier for them to process.  More than 80 percent of all tax payers are already filing electronically, but some people still prefer the comfort of paper documents that they physically mail to the IRS.  Here are some good reasons to consider letting go of the paper and e-filing your tax returns.
  1. E-filing forces the return to be as complete and accurate as possible.  There are far fewer opportunities for omissions and mistakes, making it better for you as well as for the IRS.
  2. E-filing is safe and secure.  Strict guidelines for security and encryption technology must be followed when e-filing.  You will receive a notice within 48 hours that your return was received and, if there is a problem with the return, you will receive a notice that provides information to quickly correct and resubmit the document.
  3. E-filing usually means you will receive your refund significantly faster than with paper filing.  Most refunds are issued in less than 21 days, and you can choose to have the funds deposited directly into your bank account.
  4. Several payment options exist with e-filing.  You can set an automatic payment date anytime on or before April 15 if you e-file early.  You can also pay by check, money order, debit or credit card, or by electronic transfer from your bank.
  5. You can access e-filing yourself through IRS Free File, and any tax preparer will automatically request to e-file your return due to IRS filing requirements unless the situation requires special forms that can be paper filed only.
FlemmerAssociates, LLP e-files all client returns except for unique client situations.  We agree that it is easier, faster and more accurate.  In addition, you don’t have to mail the return with the risk of possibly losing it in the postal system.  The notification that the return has been received is a wonderful feature because you have the peace of mind knowing that the IRS has received the document – something that’s always a concern when mailing the return.  Let us know if you have any concerns or questions about e-filing, and we’ll be happy to discuss the process with you.

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