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Saturday, January 28, 2006

Tax Preparing is Easy and Free Using E File

Its that time again, and many dread doing their taxes. If you try Efile you will be surprised how easy and quick it can be. And one of the best advantages is that preparation does not cost at all. If you made under 50,000 last year as an individual or a business Efile will work great for you.

The IRS lists free recommended software that is a breeze to fill out, and it is accurate and error proof. Its easier than you think and they suggest the best free software to complete the job. Want to give it a try go here. Below are some of the reasons to give it a try:


The Electronic IRS for Taxpayers: File, Pay... and More.

In 2005, IRS web site was updated to make it more user-friendly and accessible to tax professionals, taxpayers, and other IRS customers. IRS worked with a variety of user groups to
improve the site's usability.

Improvements include a robust search engine and new features on the home page to help visitors more easily navigate the site to find information, services, and products they are seeking.

Now, IRS is introducing the Electronic IRS, a link on the home page that takes visitors directly to an overview of all the electronic services available from the IRS listed according to who might use the services.

The concept of the Electronic IRS is to provide a central source for all the many online
transactions that can be accomplished electronically with the IRS.

Beyond filing electronically (e-file), the Electronic IRS is a gateway to all the IRS electronic options available for taxpayers. On the irs.gov web site taxpayers can…

- Check on their refund with "Where’s My Refund?"
- Find an Authorized e-file Provider
- Obtain Copies of Tax Returns
- Calculate the appropriate withholding
- Obtain or complete online Forms and Publications
- Sign up for paying electronically
- Obtain an Employer Identification Number (EIN) online
- And more.

In 2005, more taxpayers than ever used electronic means to conduct
business with the IRS. For example:
• For the first time, a majority (52%) of individual taxpayers
(68.5 million) filed their tax returns electronically.
• More than 8 million business returns were filed electronically.
• More than 1 million taxpayers enrolled in the IRS’ Electronic
Federal Tax Payment System (EFTPS) in 2005, bringing the total
number of taxpayers enrolled to pay their federal taxes online or
by phone to 6+ million.
• 1.4 million payments were made by credit card.
• 1.2 million tax payments were made via electronic funds withdrawal.

e-file: The Most Popular IRS Electronic Service
IRS e-file has quickly become the most used option for filing individual
and business tax returns. Why? Because e-file offers many benefits
to users:

• e-file is more accurate.
• e-file is secure.
• e-file offers users the option of Direct Deposit so they can get
their refund in half the time.
• e-file offers the convenience of filing their tax return early and
delaying payment up until the due date.
• In most states, taxpayers can also file federal and state returns
at the same time.

How does e-file work?

Computer Prepared Returns
Taxpayers prepare their tax return on a personal computer using
a commercial software package, Free File, or an online service
and transmit the information via modem to an electronic return
transmitter.

2 Comments:

At 8:46 AM, Blogger Charlie said...

Easy and Free sounds to good to be true?

 
At 8:57 AM, Blogger B O B said...

Thank you for your comment Charlie. I would be hesitant to recommend this, but I have been doing this for years. And it is easy and it is free.

And I have seen no ill effects of doing your taxes this way. A lot of people go to professional preparers and pay a hefty fee for their services. I have never done that in my life. And I hate to see people throw away their money.

 

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