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What is e-Filing and Why Should You e-File Your Tax Returns

Many of our clients have questions regarding the IRS e-File process:   What IS e-Filing?  Why should I e-File?  What is the e-File Form?  When should I e-file and is any payment due at that time?  Here are some answers to these common e-File questions:
What actually is e-filing?   E-Filing is simply taking an electronic version of your tax return and sending it using the Internet directly to the IRS data processing center,  instead of paper filing your tax return through  the mail. E-filing of your returns is included in your Hysjulien and Associates tax preparation service.
Why should I e-File my tax returns?   E-filing your tax return is by far the fastest way to receive your income tax refund!  In addition,  E-filing is safe and more secure than paper filing through the mail.  It is also  the most accurate way to file your tax return.  Plus, we can  check on the status of your return within 24 hours after the IRS has received your e-filed return versus 4 weeks if you mail a paper return!
What is the e-File Form?  The e-file form, also know as Form 8879, is the IRS e-file Signature Authorization, which approves your tax return and gives Hysjulien and Associates your permission to electronically file your taxes.  Without a signed copy of this form, we are not allowed to file your returns.  You will receive the appropriate e-file forms in your tax packet, and they are also available on your portal.  This year, the IRS is even allowing  electronic signature of the e-File form.  New e-file forms must be filled out and signed annually so you will need to sign your new e-file forms each year.
When Should I e-File?  What if I want to wait until April 15th to pay my taxes?  Whether you owe taxes or anticipate a refund, you can e-File your returns as soon as they are completed.  The sooner you e-File, the more quickly you can receive your refund!  If you OWE taxes, you can still e-File as soon as your returns are complete.  You will simply authorize an electronic funds withdrawal or pay by credit card and as long as you  e-file before the April 15, 2015 deadline, you can schedule an electronic funds withdrawal from your checking or savings account as late as April 15!  You do NOT need to pay early even if you efile prior to the deadline.  It is almost always advisable to efile well in advance of the deadline!

For more information, see Hysjulien and Associates CPA Brock Welch’s informative video “All About eFiling” or call your Hysjulien and Associate tax and accounting professional.

February 27th, 2015

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