| Top
5 reasons to file taxes online The
Internal Revenue Service is putting even more push in 2003 behind its annual campaign
to get more people to file
their taxes online. An extensive advertising and public relations campaign
about e-filing including messages in the annual tax packages mailed out
to taxpayers will reach most Americans prior to April 15. Overall,
47 million returns, or 36% of all individual returns, were filed online in 2002.
The IRS is hoping to push that number higher in 2003 as part of its eventual goal
of having 80% of all individual returns sent electronically. You
can't file electronically this year if you do business as an S corporation or
a C corporation. But unincorporated sole proprietors can e-file, as can one-person
limited liability companies (LLCs) choosing to be taxed as a partnership.
Here are 5 potential e-filing
benefits for those and other taxpayers. - You
should get a faster refund. The IRS says that businesses and individuals who e-file
will typically get their refunds within 14 days. Folks who mail in their returns
can wait as long as six weeks for a check. If you want to file a paper return,
there's an in-between option that can cut your waiting time for refunds. On page
2 of your Form 1040, you can request that any refund be directly deposited into
your bank savings or checking account. That will slice one to two weeks off of
your wait.
- You
can file from the convenience of your home PC. If you do your own tax returns
using one of the widely available consumer
tax programs, you can send in your return directly from your family or home-business
desktop PC. About 9.4 million people filed returns from their own computers last
year. Click here for a free
demo.
- There
will be fewer IRS employee errors. This is one of those seemingly rare cases where
what's good for the IRS is good for you also. Electronically filed returns don't
have to be keypunched into the IRS's database. That means the IRS can hire fewer
employees. It also means that
you don't have to worry about whether your data has been accurately transferred.
No keypunch errors and no IRS notices based on incorrectly entered information.
That's a win-win.
- There
will be fewer taxpayer errors. Some basic taxpayer mistakes missing or
incorrect Social Security numbers, for example will result in the IRS computers
rejecting an e-filed return. You can usually fix and re-send the corrected returns.
That's better than sending in an incorrect paper return and getting a letter from
the IRS several months later.
- You
can piggyback your state
e-filing. In most cases, if you live in a state with an income tax, you can
file online with your state at the same time you send in your federal return.
The IRS will take the information you've sent and forward the appropriate data
on to your state tax agency. Combined federal-state e-filing is available for
taxpayers in 37 states and the District of Columbia. Click
here for more information on
how to prepare your federal and resident state tax returns online

Other
Business Center Reviews
Choosing
the Best Web Host
New! Top
3 Online Mortgage Loans Top
3 Online Inkjet suppliers Top
5 Reasons to File Taxes Online Top
5 Online Credit Cards Top
5 Online Web Host Top
7 Online Computer Software Top
8 Credit Consolidators and more Best
Travel Gadgets
Promotional
Links Air
Travel to Las Vegas -
Hotel
Discounts - Reserve
A Rental Car Online -
Vegas
Vacations
All
product information on this site, including prices, features and benefits, is
based solely on information made available by the vendors and GenxRevealed disclaims
any responsibility for this information or the products listed. Some product information
may be confusing without additional explanation. Product information may be inaccurate
and is subject to change without notice. You should contact the vendor with any
questions about the products or the information presented.
|