8 Reasons to E-File Your Tax Return

If you are reading this page then you obviously have both a computer and an Internet connection. This means you already have the tools to e-file your taxes. Below are 8 reasons to consider e-filing your return this tax season

1. Convenience

E-filing your tax returns is much more convenient then having to deal with piles of hard to understand tax forms. There are no documents to track down, and no trips to the store or post office. All you need is access to a computer and your financial information. You can file your returns anytime you want, 24 hours a day, seven days a week from the comfort of your own home.

2. Speed

E-filing is by far the fastest way to file your income tax return. The average taxpayer can complete online e-filing in less than 45 minutes. Compare this to spending hours going through your paper tax return line by line.

3. Accuracy

According to IRS reports, the error rate for paper returns is around 20%. On the other hand, the error rate for e-filed returns is less than 1%.

4. Less IRS Employees

By e-filing your return, you can also help the IRS, who will not have to pay employees to type your information into a database. Therefore they can hire fewer employees and cut back on the total cost. Additionally, there is less of a chance of an error from an IRS employee.

5. Security

The IRS launched the e-file program in 1986. So far, nearly one billion tax returns have been e-filed and there has not been a single security breach.

6. Faster Money

If you e-file your return and choose to have your refund deposited directly into your bank account, you can receive your refund in as little as 10 days. On the other hand, if you file by mail it can take over 10 weeks to get your refund.

7. Delayed Payment

If you owe money to the IRS then you can use e-filing to delay your payment to the IRS until April 15. That way you can have the peace of mind in knowing you filed your return early, but can schedule your payment for the anytime you like.

8. IRS Confirmation

When you e-file your return, you will receive confirmation within 24 hours of the IRS accepting or denying your tax return. You will also receive an email confirmation with proof of acceptance in about six to seven days.

9. State Returns

In most cases, if you have to pay a state income tax then you can file it online in the same e-file that you send for your federal return. The IRS will take the information entered and forward it to your state tax agency.