Garfield Heights, Ohio – Not so long ago e-filing taxes wasn’t very common. In 2001, of all the federal tax returns filed, 31% were filed electronically. In nine short years, approximately 70% of all federal tax returns filed in 2010 were done so electronically. Those who don’t e-file are now the exception.
Why would almost 99 million taxpayers choose to e-file? No more waiting in line at the post office, no more worrying if your return reached its destination, and no more writing out a check are good reasons. You can pay any tax due by using the Electronic Federal Tax Payment System (EFTPS). Electronic payment options are convenient and secure. E-filing allows you to submit your tax return to the IRS in a quick, accurate and efficient way. You don’t need to worry about attaching specific documents to certain pages or if the person at the IRS correctly keyed in your return. Also, since an e-filed return is computer processed, the processing time is quicker, so you can get your refund faster! More than 74 million refunds were electronically deposited saving taxpayers a trip to the bank.
E-filing is also beneficial for the IRS. For 2009 federal tax returns, it cost the IRS $0.19 to process an e-filed tax return compared to the $3.29 it took the IRS to process a paper return. Computer processed e-filed federal returns consequently have fewer errors than the human processed paper returns.
Contacting a qualified tax preparer is the easiest way to e-file. Contact Steven Cook at Matrix III Income Tax Service, LLC for professional advice for your tax situation. Steven is an expert who keeps current on tax law changes as well as a member of the National Association of Tax Professionals. He can save you time and offer insight on how to use the tax breaks available to you. Call 216-332-7283 for more information.
This written advice is not intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer for following the advice. Other factors may need consideration that would change the opinion presented.
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