Taxpayers… Start Your Engines!

Posted on 12. Jan, 2007 by in News, Taxes

efile.gifIt’s official. The IRS has just announced that taxpayers may start e-filing their 2006 returns beginning today. The IRS plans on another record-setting year for the e-file program, which has grown to include a larger number of taxpayers and business entities.

“E-file is fastest, safest and most accurate way to file a tax return,” said IRS Commissioner Mark W. Everson. “People will get their refunds faster through e-file. E-file greatly reduces the chances for making an error compared to filing a paper 1040.”

Taxpayers who use IRS e-file and who choose direct deposit can receive their refund in half the time. So there’s no excuse not for you to get those taxes in ASAP. In fact, the longer you wait to file your return and claim your refund, the longer you’re giving Uncle Sam an interest-free loan. Also, tax return information is protected through encryption, and an e-filed tax return is far more accurate than a paper return. Taxpayers receive an acknowledgement within 48 hours that the IRS accepted the return.

Although e-filing is technically free, many software vendors charge a fee to do so (a fee, in my mind, which is much too high). However, IRS Free File, a partnership between the IRS and some software manufacturers, will offer free tax preparation and e-filing again for taxpayers with an Adjusted Gross Income of $52,000 or less.

So, with that information go forth and e-file!

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