Business & Finance Taxes

If You Are One of the Holdouts, Your Benefits to Picking the EFile Tax Return Method

Efiling your taxes - a method that's been around for years now and is actually used by about 100 million taxpayers around the country.
Every year, the efiling website opens sometime around the middle of January for use to file taxes that year.
Your efile tax return done well in time, lets you stay clear of the long lines at the post office come the last filing day in April.
If that isn't incentive enough, perhaps you need to know about a few of the other great benefits that come your way when you choose the efile tax return method.
About the only antidote to paying the IRS is having the IRS pay you back.
To shorten the turnaround as much as possible, you need to make sure that you efile that tax return.
How soon a turnaround is that? It can be as short a wait as 10 days.
An early efiling is processed in as little as 48 hours.
While itemized tax deductions do take a little longer going through the IRS process, direct deposits are done really quickly.
You get your refund in little more than a week.
As an efiler, you can give the IRS a choice of three financial accounts in which to send you your tax refund; you can also ask them to buy you US Series 1 savings bonds with your tax refund.
Why, you could even use savings bond as a gift to a child in the family.
You just have more options when you choose the efile tax return method.
Tax returns done by hand with pen and paper have more mistakes than the electronic version.
It's just the way people are - give them a completely manual method of doing something, and they end up making mistakes.
The IRS even has statistics on the matter - one out of five tax returns done by hand has a mistake or two.
How does the efile tax return compare, you ask? Only one out of 100 efiled returns have any mistakes at all.
And even if they do find a mistake in an efiled return, they can quickly contact you to have it corrected in under two days.
About 60% of all taxpayers around the country get an IRS tax refund each year; and on average, they get $3000 apiece.
It would be much better planning if you could adjust your tax withholding (which could work out to a couple of hundred dollars a month) and get the withheld money if they earn and.
Who wants to give the IRS a loan for free?


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