Why you should electronically file your tax return?
Are you still filing your taxes on paper? If so, it is time to upgrade! E-filing is faster, easier, and more accurate than filing a paper return. E-filing makes compliance with reporting and disclosure requirements easier by eliminating the need to make copies, assemble all of the appropriate schedules and attachments and pay for postage – making the process easier for both the IRS and taxpayers.
Paper filing requires mailing via the sometimes unreliable US Postal System, and your tax return takes much longer to fully process than e-filing. Oftentimes, you are left waiting 2-12 months to receive your refund after submitting your tax return. An e-filed tax return will be processed by the IRS (and if applicable state) in 1 or 2 days. As a result, refunds are typically processed in about 2 weeks.
Your tax return must be accurate. Online e-filing verifies all the calculations, eliminating mechanical errors. The IRS estimates the error rate for paper returns is very high (10%-21%); meanwhile the IRS pegs the error rate for e-filed tax returns at about 1 in every 200. If your tax return does happen to have an error, electronic returns tend to be easier to correct.
If you owe taxes, you can e-file early and set an automatic electronic payment date anytime on or before the April 15 due date. You can also pay by check or money order, or by debit or credit card, or transfer funds right from your bank account.
Electronically filing you tax return is ultimately more secure, more efficient, and more environmentally-friendly. No paper, no stamps, and no gas needed to drive to the Post Office. Your tax professionals handle all the heavy lifting!