2010 Marks The First Cyber Tax Day
April 15th 2010 is no ordinary tax day. This year, for the first year, most tax payers will use IRS e-file to file their federal tax forms. The IRS anticipates more than 2/3rds of individuals to file electronically.
Doug Shulman, IRS Commissioner, said “Electronic filing is more and more popular every year, and most taxpayers now use e-file. IRS e-file means faster returns.” He also insists that the platform used is safe.
According to the National Retail Federation most consumers will use the e-file option through computer programs such as TurboTax. They also found that 40% of Americans will wait until the 6 weeks before April 15th to file. Fifteen percent will wait until the final two weeks. The IRS and private tax firms are all speaking of the ease and convenience of filing online. Even if you owe additional tax, e-file is still the best option. It allows one to file now, and pay later as long as payment is received by April 15th. E-file also allows for automatic withdrawal from any other account or by using credit card.
In 37 states and Washington D.C. residents can e-file both their federal and state returns with one transaction through the IRS. The IRS then forwards state information to the appropriate tax agency. Maryland and Virginia both participate in this program.
Both H&R Block and TurboTax have been heavily pushing the e-file program. For more information about Cyber Tax Day, visit cybertaxday.com.
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