When it comes time to filing your taxes there are many ways to go about it. You may choose to go to an accountant, a tax preparation store, purchase software or to do your taxes yourself. No matter what you decide to do you should take advantage of t e-file. E-file allows you to file your taxes electronically. It saves time, and because it is automatic there is less chance for error. You will receive your refund faster if you e-file.
The first day that e-file is available is January 16, 2007. If you have an adjusted gross income below $52,000.00, you may qualify to e-file with no additional fee. It depends on the software that you choose to use. You should read the fine print carefully. You can learn more about the free file program by visiting www.irs.gov.
When you are e-filing you can elect to have your refund direct deposited into a checking or savings account. This is a great way to speed up receiving your refund. It is simple, and you do not need to worry about your check being lost or stolen in the mail. This is available to you no matter how you file. You can sign up for direct deposit if you go to a tax preparation store, file through the mail or e-file. There is no fee for this service.
If you end up needing to pay taxes this year you have the option of making an electronic payment as well. One advantage of this is that you do not have to worry about your check being lost in the mail. You will receive confirmation of payment. You can pay over the phone or online.
If you have any additional questions about your taxes you can visit the www.irs.gov. If you plan on using the state and local tax deduction, the higher education deduction or the educator deduction you will need to wait until February to file your taxes. The laws have changed slightly, and this will insure that you do not make any mistakes.
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