Plan to paper file your taxes this year? If so, you’re wasting your time. E-filing is the faster, easier and better way to do your taxes. Once you try it, you’ll never go back to paper again. Here are five great reasons to make the switch.
According to the IRS, taxpayers who manually prepare their return are 20 times more likely to make mistakes than e-filers. Errors on your return can slow down your refund or lead to an IRS audit. Using a tax preparation program like ezTaxReturn can help you get your taxes right the first time. They’ll guide you through the process step-by-step to minimize mistakes. If an entry seems questionable, they’ll flag it so you’re forced to take another look. Best of all, the program handles all the paperwork and calculations so you remain stress-free. As long as you enter accurate information, you’ll get accurate results.
If you want to get your refund as quick as possible, e-filing is the way to go. Typically, you’ll receive IRS acknowledgment within 24 hours and your refund within 21 days. Paper returns take a lot longer to be processed. The total wait time is 6-8 weeks if you send your taxes off by snail mail. Keep in mind, that’s assuming the IRS doesn’t find any issues with your return.
Safe and secure
Tax returns are full of sensitive information you don’t want getting lost or stolen. Filing electronically is much safer than filing by paper. When you e-file, your return is securely transmitted from your computer to the IRS without any pit stops. Plus, the IRS has several safeguards in place to ensure your private information remains confidential. Tax providers must comply with strict security guidelines and use the latest encryption technology to keep your data safe. So far, the IRS has successfully processed over 1.5 billion tax returns.
Flexible payment options
There’s nothing worse than owing money and being unable to pay. Fortunately, the IRS has flexible payment options which allows you to e-file now and pay later. Through your tax preparer, you can request to have the funds deducted on the date of your choosing. Just be sure to get it squared away before April 17th to avoid penalties and interest. Taxpayers also have the option of paying their balance by credit or debit card, check or monthly installments.
It’s free in some cases
Forget spending an arm and a leg to do your taxes. If you have a simple return, you may be able to e-file a FREE 1040EZ at ezTaxReturn.com. To qualify, you must meet the following criteria:
- File Single or Married Filing Joint
- Under 65 years old and not blind
- No dependents
- Less than $100,000 in taxable income
- No adjustments to your income
- Don’t claim any tax credit EXCEPT the Earned Income Credit (EIC)
- Have only wages, salaries, taxable scholarship or fellowship grants, unemployment compensation or Alaska Permanent Fund dividends
- Less than $1500 in taxable interest
Although you may qualify for a free federal 1040EZ, you are required to pay if you need to file a state return as well.