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E-FILING YOUR TAX RETURN THE INS & OUTS OF E-FILING What's so Great About E-Filing? It's Paperless! If one pine tree produces about 161 reams of paper which equals 80,500 sheets and 230 Million filed taxes in 2010, 116 Million of them were filed electronically 28,835 which saved around 28,835 trees. Trees saved by electronically filing taxes One tree produces about 80,500 sheets of paper 1 = 500 sheets 1 = 1000 trees Faster Refunds More Accurate A Quick Confirmation Check A Confirmation that your files have been submitted will be sent within: E-Filed Traditional 10 50 Double Check 48 DAYS DAYS HOURS No Errors With direct deposits, recieving your return from e-filing can be so much easier. On average, it takes about E-File software automatically checks for necessary information & common mistakes, eliminating the chances of human error. The IRS currently is phasing in its Modernized e-File (MeF) system, the next generation of electronic filing that will send a confirmation within 6-8 weeks for a return to come if you file by paper & mail. minutes as opposed to 48 hours. Growth of E-Filing in America E-Filing Increase since 2001 E-Filing Receipts 2009 vs 2010 2009 2010 % Change 150M Total Receipts 143,529,000 141,536,000 -1.4% Tax Professionals 63,285,000 63,893,000 1.0% Self-Prepared 32,193,000 34,847,000 8.2% 100M Total 95,478,000 98.740,000 3.4% 50M Almost 80% of 79% taxpayers filed their taxes electronically in 2011 compared to 30% in 2001. Traditional Filed Returns E-Filed Returns Returns Filed Electronically in the U.S. 2010 12 Million+ 10Million 8 Million 6 Million 4 Million Under 2 Million E-Filed Tax Returns vs Traditional by State in 2010 Traditional Filed Returns luanduda 40M E-Filed Returns 30M uhudu 20M 10M How Do You E-File? Gather Information All W-2s Receipts Including any related to Small Business, Taxes Paid, Charitable Contributions ITIN Individual Taxpayer Identification Number for You and Your Spouse All Form 1099s Including 1099-INT, 1099G, 1099-DIV, 1099-R, and 1099-MISC Your Social Security Number Your Bank Information Including your Account Number and Bank Routing Number (Your bank routing number is the first number on the Records of Other Income Health Expenses Medical and Dental Including Rental Income, Royalties, or Income from Partnerships, S Corporations or Trusts bottom left of your check) Form 1098 Income Records From Unemployment Compensation or Social Security Credit card (If paying taxes due by credit card or debit card) For Home Mortgage Interest Casualty & Theft Losses Unreimbursed Job Expenses IRS E-File Provider Tax Preparation Software AUTHORIZED IRS file NOTES PROVIDER Authorized E-File Providers are Tax Professionals such as Do it yourself with Tax Preparation Software that ranges from free services to deluxe paid software with premium assistance. Either way, prepare your taxes without ever having to leave the comfort of your own home. H&R Block. They are the Electronic Return Originator (ERO) accepted into the electric filing program who transmits tax return information to the IRS. Follow Instructions E-Sign Submit ABC PIN# FINISH Depending on the service provider, the instructions could be as simple as answering true or false questions. Finish your E-filing experience by submitting your files. Now all you have to do is wait for your tax return. No need to use a pen. Just create a PIN identification number. Sources,,id3237234,00.html,,id3231381,00.htmlm H&R BLOCK NEVER SETTLE FOR LESS" CREATED BY OBIZMEDIA.COM f םטסטטסaםפה ARKANSAS CALIFORNIA CONNECTICUT DELAWARE I HAWAL IDAHO I SIONIT7 I VNVION MAINE MARYLAND MASSACHUSETTS MICHIGAN I MINNESOTA lanossiw MONTANA| NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NORTH CAROLINA NORTH DAKOTA I LOIHO OKLAHOMA . RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE I TEXAS WASHINGTON WEST VIRGINIA WISCONSINI WYOMING I


shared by kcatoto on Jan 23
For those of you out there that are “old school” and still file your returns the old fashioned way, on paper, you’re a dying breed. The growth in e-file is huge and continues its upward trend. H...


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