| The benefits of participating in the IRS e-file program
are:
1. IRS e-file returns are virtually error-proof with an
error rate of less than one percent as opposed to the error rate for paper
returns which remains steady between 20 and 21 percent. IRS e-file
greatly reduces the chance that you will get an error letter from the IRS.
2. If due a refund, you can expect to receive it in approximately
three weeks from the acknowledgment date - even faster with
Direct Deposit (half the time as when filed on paper).
3. If a balance is due the IRS your tax professional can file
your return electronically any time during the filing season; however,
sending the payment for a balance due by April 16 is still your
responsibility. You may file electronically as soon as you are ready and
will receive a confirmation from the IRS within 48 hours of receipt of
your return. You may then pay your balance due to the IRS by check, direct
debit (automatic withdrawal) directly from your bank, or by credit
card. All balance due payments, regardless of method of payment, must
be authorized or sent to the IRS by April 16 to avoid late payment
penalties or interest charges.
To pay by check, make your check payable to the United States Treasury
and mail it, along with the IRS payment voucher (Form 1040-V), to the
address indicated on the voucher. For direct debit (automatic withdrawal),
include your bank routing information and account number on the Form 1040
when you file electronically. You can designate the exact date (up to and
including April 16) that you want the payment to be withdrawn (by the
Department of Treasury financial agents) from either your checking or
savings account at your bank. Credit card payments are available for
filers who file through an Authorized IRS e-file Provider,
through commercial tax preparation software or through TeleFile.
Income Tax
Preparation Check List
Contact our office for more
information. |
