First Person: Why You Should E-File Your Tax Return
In the not so distant past, the concept of filling out your tax return and then filing it all online would have sounded ridiculous. After all, filing your taxes isn't supposed to be easy, right? Now, thanks to a system known as E-File, which is short for electronic file, the IRS says that two out of every three tax returns is now filed electronically.
There are many reasons that you too should join in on the E-File craze, here are just a few:
It's Easy
Filing your taxes electronically is actually easier than doing it the old fashioned way. Because you can prepare your tax return online, you will be able to avoid excessive use of whiteout or, even worse, having to start over if you make too many mistakes. Once your tax return is done, you can then click a few buttons and your tax return will be safely filed with the IRS.
It's Fast
Not only is filing your taxes via E-File easy, it is also fast. So, the IRS will get your return faster than if you were to mail it to them in the traditional sense. Why is this important? If you are entitled to a tax refund then you will get that refund much faster because you filed electronically. How fast will you get it? If you provide your banking information and request direct deposit, you can expect to get your money in as few as 10 days.
Peace of Mind
This is a biggie. When you mail away your tax return, you are leaving your fate in the hands of the United States Postal Service. While they typically do a great job, sometimes things get lost in transit. You can always pay for a return receipt and send your tax return certified mail, but this adds to the expense of getting your tax return to the IRS. When you E-File, not only is it free, but you get a return receipt almost instantly from the IRS stating that they have received your tax return. This offers the best peace of mind available in regards to knowing your tax return safely made it to the IRS.
Tried and Tested
Believe it or not, E-Filing has been around for about 20 years now. Since the IRS started E-Filing, close to 800 million tax returns have safely and quickly been electronically filed, with 95 million alone coming last year. With the ease, speed, and peace of mind that E-Filing offers, is there really any reason to file your taxes the hard way?
Published by Jimmy Collins - Featured Contributor in Business & Finance
Full time freelance writer. I am a former stock broker and money manager who still loves all aspects of finance as well as sports and fitness. Currently I hold a 4th degree black belt in the Martial Art of T... View profile
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8 Comments
Post a CommentSounds simple enough, thanks.
You're right...so much faster and easier...If I get a refund, it's usually deposited within 8 days.
great help...will pass info on to my hubbie!
We've used E-file for a while now....seems pretty good...and faster.
E-filing is the way to go.
Yes, E-filing is absolutely THE way to go! Unless, of course, you miss the thrill of the pre-midnight line of cars at the post office.
Sounds smart
Consider an article on "Why You Should File a Tax Return." How about the government making it simpler, period. Filing is one of the most excruciating things our government does to its citizens. They take our hard-eaned income then make it hard to give it to them.