Why Electronic Filing of Income Tax is a Smart Decision
The IRS officially begins the 2024 tax year on Jan. 27, 2025. This will be the first time the agency accepts both paper and electronic income tax returns. If you want to start early, you can file your tax return as early as Jan. 2, 2025. We will send it directly to the IRS when they begin accepting returns late January. Your return will be among the first to be processed by the IRS. You have plenty of time to get started. You have plenty of time to get started.
In fact, you can easily begin today by selecting the 2024 TaxAct(r) product that best fits your tax situation.
Why e-file your taxes?
Choosing to electronically file (e-file) your tax return is the quickest and most efficient way to submit your taxes to the IRS. But that’s just one of the reasons you should consider efiling your tax returns this year. Here are a few other reasons why efiling could be the best choice for you.
1. Fast and accurate filing: no math required.
When you e-file using tax preparation software such as TaxAct, you can complete your return faster and with greater accuracy. Tax software such as ours can do the math for you, guide you through each step of your return and even help you identify tax savings opportunities. You won’t need to wait for the IRS to receive your return via snail mail. E-filing can also reduce the chance of a human error on your tax return. If you are due a refund in 2024, the money will usually be deposited into your account much faster if you e-file. When you efile your tax return, the IRS receives it immediately for processing. Paper tax returns can take much longer. You can track your refund using the IRS Where’s my Refund? Want your tax refund faster? Choose direct deposit to receive your refund as soon as possible. You can receive confirmation to ensure your peace of mind.
One benefit of e-filing tax returns is that you will be able to elect to receive an electronic confirmation from the IRS when they have received your return. No more wondering if your return has been delivered to the right place. We’ll let you know that the IRS has accepted your return once you’ve filed it using TaxAct. It is a common myth that you have to pay your taxes immediately when you efile your tax return. In reality, you have some flexibility.
You can pay tax amounts owed when you e-file, or you can e-file early and set up an automatic payment to be made on the tax deadline (April 15, 2025). Payments can be made electronically, by check, money order, credit card, or via your bank account. Stay organized.
Using DIY software to file your taxes creates a permanent electronic record of your tax return. You can easily access the information for future use. For example, when tax season comes around again next year. If you continue to use TaxAct for e-filing we will already have the data from your previous tax return, which means we can transfer that information directly into your new return, saving time. Once you file your tax return for this year, you will have access to it for seven free years. Say goodbye to cluttered filing cabinets.
6. Keep more money in your pocket when e-filing.
Don’t spend more money than necessary to file your income tax return. Compare our prices and you’ll find that they are very competitive. Start efiling your return today.
