Do you file your tax return through the traditional way? If yes, then may be you are not aware of the advantages of filing your tax return electronically. E-filing is inexpensive, uncomplicated and quick. This is why IRS is encouraging consumers to file their taxes online. Read on to get acquainted with 4 major reasons why you should file your income tax return electronically.
Reasons to e-file your taxes
Here are the 4 reasons why you must file your taxes online:
1. Safe and secure: Your tax return contains all kinds of confidential information such as your social security number, banking and employment details, etc. If the identity thieves get hold of your tax filing documents, then they can misuse them to make money out of you. The postal department receives huge number of mails in the tax filing season. Like most consumers, if you mail your tax return, there is a great possibility that your package may get mixed up with others or get lost. The identity thieves wait for only this opportunity. They will use these details to drain money from your accounts. However, e-filing is safe and secure. IRS uses the latest technology to ensure that the confidential information of the consumers filing their tax returns electronically is protected.
2. Simple and easy: It is quite easy to file your taxes online. You won't need to pay anybody to fill out the tax return forms correctly. The entire process is simple. All you need to do is, log on to the IRS licensed websites and file your taxes. The e-file software embedded in these websites will fill out the required forms for you. So, you don't have to go through the tax papers again and again. In addition, you can complete the whole tax filing process free of cost.
3. Precise and correct: The e-file software can easily detect the calculation mistakes. This reduces the possibility of your tax return being rejected by the IRS due to numerous errors. However, when you file your tax return in the traditional way, there is a high chance of human error.
4. Fast and quick: When you file your tax return online, the total process can be completed within 2-3 weeks. If there is any mistake, then it can be corrected within a few minutes. E-filing also enables you get your tax refund directly deposited to your bank account within 10 days.
Finally, e-filing is accessible and convenient. You won't need to be at the mercy of the post office department. You can fill out and submit your tax return at your own convenience. So, if you feel like filing your tax return at 11pm, you can do it from your personal computer at home.