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Irs E File

Written by Kathleen Gagne
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Try Irs E File This Year

Last year, over 53 million taxpayers used the Irs E File option, and the number is expected to grow significantly this year. If you're wondering why efile is so successful, the answer is simple. Without a doubt, efiling is the fastest and easiest way to prepare and file your income tax return.

Let's look at the reasons why. First of all, no matter how you file your return, you will still have to gather the information that must be entered on each line of your return. That means that you'll be in charge of W-2 forms, 1098 forms, receipts for charitable donations, student loan interest forms, and more. Fortunately, once you have the forms in hand and enter the data into the program, all of the calculations will be done for you.

Irs E File Advantages

Here's how it works. You start out by entering personal information just as you would on your paper form. Most of the programs will actually help you to determine which IRS 1040 form is right for you. Once that is settled, you will be asked a series of questions designed to make sure that you complete the form correctly. Your program will even review your entries to see if any of them seem unusual.

Online tax preparation programs have already been shown to result in fewer errors on tax returns than paper and a calculator. They generally take less time, and can cost considerably less than a trip to an accountant. Once your return is filed, you'll get a confirmation of receipt from the IRS. If you owe taxes, you can pay online. Finally, and probably most important, if you are due a refund, you can select the direct deposit option and have your refund in days, and get to your vacation faster than ever before.

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